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Tm Bioscience Mulls Possible Sale or Merger as Respiratory Panel Receives CE Mark

NEW YORK (GenomeWeb News) - Tm Bioscience today said it may be looking for a buyer or merger partner as one of several “strategic alternatives” it is exploring.
The company said it has formed a committee to look into its market potential and merger opportunities, although it added that it had not yet made any decisions to enter any transactions and that it will not list the names of potential partners.
Tm said it had recently received several inquiries and believes “this indication of interest demonstrates that it is an ideal time to explore our options.”
Company president and CEO Greg Hines said it is in the best interest of the company’s current and future customers that it finds such an alternative to help develop and promote its products.
Tm Bio said it has already retained the investment firms Leerink Swann & Co. of Boston and Westwind Partners of Toronto as financial advisors.
Separately, the company said its ID-Tag Respiratory Viral Panel has received CE Mark (Conformité Européene) status.
The company can now market the test for diagnostic purposes in countries following the European directives for viral testing.
Hines said the CE Mark approval for the ID-Tag RVP, which works to help physicians identify what virus may or may not be causing an illness, is integral to the company’s global marketing strategy.