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BioMerieux Spends $60M to Acquire Private Molecular Dx Firm

NEW YORK (GenomeWeb News) – BioMerieux today announced that is has acquired privately held molecular diagnostics firm AviaraDx for $60 million.
San Diego-based AviaraDx makes tests — the CancerTYPE ID and Breast Cancer IndexSM — that are used for the molecular classification of cancers and to aid oncologists in making therapeutic decisions. BioMerieux said that with the acquisition it gains validated cancer biomarkers as well as capabilities in gene expression profiling in tissues for oncology applications.
AviaraDx also runs a high complexity CLIA certified service lab and has a total of 19 employees. BioMerieux said that AviaraDx “has limited sales today and is projected to lose approximately $8 million in 2008.” It anticipates the firm breaking even in 2012.
The firm will operate as an independent legal entity and be renamed bioTheranostics. BioMerieux Corporate VP of Business Development and Theranostics Richard Ding has been named CEO of the new subsidiary. He will continue to serve on BioMerieux’s management committee and will continue to lead BioMerieux’s business development and theranostics activities.

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