NEW YORK — Eurofins Scientific said on Friday that it has agreed to acquire Genetic Lab, a Japanese molecular biology-based testing provider for diagnostics, biomarker development, and drug discovery.
Eurofins said that the acquisition will be structured as a share purchase agreement with Genetic Lab parent firm Transgenic. Financial and other terms were not disclosed.
Luxembourg-based Eurofins said the transaction will further its expansion in Asia, particularly in Japan, and build out its global network of clinical diagnostics laboratories focused on specialized and advanced genetic testing.
Genetic Lab has over 70 employees and generated €13 million ($14.7 million) in the fiscal year ended March 2021, Eurofins said.
Earlier this year, Eurofins acquired at-home DNA testing products provider DNA Diagnostics Center.