Thermo Fisher to acquire Mesa Biotech

Jan. 20, 2021

Thermo Fisher Scientific announced it has entered into a definitive agreement to acquire Mesa Biotech, a privately held molecular diagnostic company, for approximately $450 million in cash. Under the terms of the agreement, Thermo Fisher will pay up to an additional $100 million in cash upon the completion of certain milestones following the close of the transaction, according to a press release from Thermo Fisher.

Mesa Biotech has developed and commercialized a PCR-based rapid point-of-care testing platform available for detecting infectious diseases, including SARS-CoV-2, Influenza A and B, respiratory syncytial virus (RSV) and Strep A. The company is based in San Diego, CA, and has approximately 500 employees and revenues in 2020 of approximately $45 million, according to Thermo Fisher.

Mesa Biotech's Accula Flu A/Flu B, RSV and Strep A tests have obtained 510(k) clearance and Clinical Laboratory Improvements Amendments (CLIA) waivers from the U.S. Food and Drug Administration (FDA). Additionally, the Accula System has received emergency use authorization (EUA) from the FDA for SARS-CoV-2 in vitro diagnostic testing, providing results within 30 minutes.

"The addition of Mesa Biotech's easy-to-use, rapid PCR-based test is highly complementary to our existing offering and will further help us meet the continuing demand for COVID-related testing while we work to rapidly scale and develop point-of care tests for other infectious diseases in the future,” said Mark Stevenson, Executive Vice President and Chief Operating Officer of Thermo Fisher Scientific

The transaction is expected to be completed in the first quarter of 2021, subject to customary closing conditions, including regulatory approval. Upon completion, the business will become part of Thermo Fisher's Life Sciences Solutions Segment.

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