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Grifols Acquires 60 Percent Stake in Progenika

NEW YORK (GenomeWeb News) – Barcelona-based plasma products manufacturer Grifols has acquired a 60 percent stake in Progenika Biopharma for €37 million ($48.4 million), the firms announced earlier this week.

Grifols paid 50 percent of the consideration in cash, with the other 50 percent coming in the form of non-voting (Class B) Grifols shares.

Vizcaya, Spain-based Progenika develops molecular diagnostics tests and DNA chips for disease diagnosis and prognosis. In particular, it has developed tests for evaluating transfusional compatibility studies.

The firms noted that since 2010 Grifols has held global distribution rights to Progenika's blood genotyping test, BloodChip. Progenika also makes the PharmaChip for identifying genetic variants that impact drug metabolism, and the LipoChip, an array-based test for diagnosing familial hypercholesterolemia.

In addition to its operations in Spain, Progenika has a reference lab in Massachusetts that gained accreditation from the College of American Pathologists last year.