NEW YORK – Meridian Bioscience this week announced that the closing date for its acquisition by SD Biosensor and SJL Partners via a newly formed affiliate company will be Jan. 31, 2023. Originally, the $1.53 billion deal, which was announced in July, was set to be completed in Q4 2022 and required to be completed by Jan. 6, 2023. Meridian’s board of directors determined that it is in the best interest of the firm’s shareholders to allow the acquirers additional time to complete the merger in order to finalize its financing, Meridian said in a statement.
BioMérieux this week increased its sales and revenue outlook for full-year 2022. The firm said a high prevalence of respiratory viruses has led sales of BioFire respiratory panels to be greater than previously expected. The firm expects full-year net sales to be stable at constant exchange rates as compared to previous guidance for the upper end of a 6 percent to 3 percent decrease. It also expects contributive operating income before non-recurring items to be above €660 million ($702 million), compared to previous guidance for the upper end of €580 million to €625 million. The firm also offered preliminary guidance for 2023 this week of total organic sales growth of 4 percent to 6 percent. Excluding respiratory panel sales, it expects sales growth of 8 percent to 10 percent. Sales of non-respiratory BioFire panels are expected to be in the mid-teens in 2023, while sales in its Microbiology and Industrial applications businesses are expected to grow in the high single digits, and Immunoassays should return to growth. Respiratory panels sales are expected to slow, assuming a moderate flu season at the end of 2023 compared to the current strong season in Q4 2022.
Applied DNA Sciences this week reported that revenues for the fourth quarter of its fiscal year grew 17 percent to $3.6 million from $3.0 million and included $2.9 million in COVID-19 testing revenue offset in part by a $713,000 decrease in product revenues from DNA concentrate within a textile supply chain. The Stony Brook, New York-based company booked a Q4 net loss of $664,554 compared to a net loss of $4.5 million for the year-ago period. For fiscal year 2022, revenues doubled year over year to $18.2 million from $9.0 million and included $4.8 million of COVID-19 testing revenue offset by a decrease in MDx test kit sales. The company reported a full-year net loss of $8.3 million, or $.93 per share, compared to a net loss of $14.3 million, or $2.07 per share, for the year-ago period. Applied DNA ended the year with $15.2 million in cash and cash equivalents.
Cofactor Genomics said this week that it has opened enrollment to non-small cell lung cancer patients on its ongoing PREDAPT study of its OncoPrism assay as a tool to predict immunotherapy response. The study is already enrolling squamous cell head and neck cancer, and Cofactor ultimately plans to include 11 different solid cancers on the trial. In head and neck cancer, Cofactor says the test has demonstrated it can predict checkpoint inhibitor response with nearly twice the accuracy as PD-L1 expression biomarkers.
Enzo Biochem this week announced its fiscal Q1 financial results, reporting that revenues declined 31 percent to $18.3 million from $26.5 million in Q1 2022. COVID-19 testing revenues declined from $9.2 million to $800,000, and excluding the impact of COVID-19 testing, total revenues grew in the low single digits. The firm’s life sciences division saw revenues grow 9 percent year over year to $7.1 million, while the clinical lab division’s revenues declined 43 percent to $11.2 million. Net loss for the quarter was $10.6 million, or $.22 per share, compared to a net loss of $2.3 million, or $.05 per share, in the prior-year quarter. Cash, cash equivalents, and restricted cash were $13.1 million as of Oct. 31.
Mawi DNA Technologies said this week that it has signed a memorandum of understanding with the Moroccan Ministry of Investment, Convergence, and Evaluation of Public Policies (MICEPP) and the Moroccan Ministry of Industry and Commerce (MIC) to explore a joint venture with Biotessia, Mawi's local partner, for a manufacturing facility in Morocco. The facility, which would serve the African market, would manufacture Mawi's sample collection devices for different types of biosamples.
Point32Health, the parent company of Harvard Pilgrim Health Care, and early cancer detection firm Grail said this week that they have expanded their pilot program offering Grail's Galleri multi-cancer blood test at no cost to Harvard Pilgrim members who purchase their insurance on the Maine Health Insurance Marketplace. The collaboration aims to collect real-world evidence to assess the impact of Galleri on health care resource utilization and patient-reported outcomes. Announced earlier this year, the first phase made the test available to Point32Health employees. Under the new expansion, eligible MHIM members will be able to join, as well. These individuals will be mailed information on how to participate.
QuantuMDx announced this week that it has received approval from the UK Health Security Agency for a combined assay detecting COVID-19, influenza A, influenza B, and respiratory syncytial virus. The test, which was previously CE-marked, runs on the firm’s Q-POC sample-to-answer, point-of-care qPCR instrument.
The Netherlands-based life-sciences company Detact Diagnostics announced this week that it has opened a US laboratory in Keene, New Hampshire. The lab is located at Keene State College’s Putnam Science Center and will serve as a diagnostics research and development space, with plans to roll out bacterial diagnostic clinical testing in the coming months.
In Brief This Week is a selection of news items that may be of interest to our readers but had not previously appeared on GenomeWeb.