Skip to main content
Premium Trial:

Request an Annual Quote

Immucor to Buy BioArray Solutions for $117M

NEW YORK (GenomeWeb News) — Diagnostics systems maker Immucor said Tuesday that it will buy molecular diagnostics company BioArray Solutions for around $117 million in cash. 
BioArray has developed diagnostic systems based on its BeadChip system to determine antigens for donors and recipients of blood transfusions. Immucor’s reagents and instruments also are focused on the blood transfusion industry.
Through the deal, Norcross, Ga.-based Immucor said it will acquire an IP portfolio with roughly 100 issued or pending patents.
BioArray will continue to operate out of its base in Warren, NJ, and will retain its name.
Immucor also said that BioArray’s current equity holders plan to form a new company before the deal closes that will commercialize the BioArray technologies outside of the blood transfusion and transplantation areas. That part of the deal will give Immucor a 19 percent holding in that new company.
Combined, the two companies should be able to “deliver more precise genotyping solutions to enhance patient outcomes,” and the deal should open up new opportunities in Immucor’s transplantation and transfusion-related applications, Immucor CEO Gioacchino De Chirico said in a statement.
BioArray CEO Michael Seul said that Immucor’s automated platforms, FDA licensing experience, distribution network, and financial backing should allow BioArray to introduce the BeadChip products more swiftly and widely than it would have been able to do otherwise.
Immucor said that it expects the acquisition to be dilutive to its earnings for several years following completion of the deal. For 2008, it said that the acquisition is expected to reduce its earnings per share by roughly $.20 to $.23.
In early Wednesday trade on the Nasdaq, Immucor’s shares tumbled 34 percent to $18.18.

The Scan

Study Reveals Details of SARS-CoV-2 Spread Across Brazil

A genomic analysis in Nature Microbiology explores how SARS-CoV-2 spread into, across, and from Brazil.

New Study Highlights Utility of Mutation Testing in Anaplastic Thyroid Cancer

Genetic mutations in BRAF and RAS are associated with patient outcomes in anaplastic thyroid carcinoma, a new JCO Precision Oncology study reports.

Study Points to Increased Risk of Dangerous Blood Clots in COVID-19 Patients

An analysis in JAMA Internal Medicine finds that even mild COVID-19 increases risk of venous thromboembolism.

Y Chromosome Study Reveals Details on Timing of Human Settlement in Americas

A Y chromosome-based analysis suggests South America may have first been settled more than 18,000 years ago, according to a new PLOS One study.