OriGene Technologies said this week that it has acquired Foster City, Calif.-based immunoassay firm BioCheck.
The acquisition expands Origene's in vitro diagnostic portfolio and capabilities for future product development, the company said. In particular, the purchase provides OriGene with IVD products for the Chinese clinical market, currently a major area of focus for the company.
According to OriGene, the Chinese IVD market is among the fastest growing in the world and is predicted to be the second largest globally by 2017.
"OriGene values BioCheck’s unique combination of novel [US Food and Drug Administration-cleared] diagnostic products and its custom immunoassay development platform," OriGene CEO Wei-Wu He said in a statement. "Gaining such capacity is crucial to OriGene’s mission to empower the Chinese IVD market with more specific and sensitive products for responsive decision making and improved health outcomes."
BioCheck has developed custom immunoassays for a variety of conditions, including colorectal cancer, breast cancer, osteoporosis, heart disease, and several infectious diseases.
The price of the acquisition and other terms of the deal were not disclosed.