06/01/06
Fujirebio Diagnostics Inc, a provider of in-vitro diagnostics, has acquired 100% of the shares and equity-related instruments of CanAg Diagnostics AB, a biotechnology company based in Gothenburg, Sweden. The combination of the competencies and resources of Fujirebio Diagnostics and CanAg Diagnostics, two leaders in the field of serum tumor markers and companies with complementary strengths, will benefit the global diagnostics industry through increased customer offerings and expanded distribution channels to market.
“CanAg Diagnostics possesses outstanding scientific depth and Research & Development capabilities, strong brand recognition, and long-standing positive relationships with major diagnostics companies worldwide,” says Paul Touhey, Fujirebio Diagnostics president and chief operating officer. “The combination of the two companies allows us to leverage the technical and scientific resources of both organizations to more effectively and efficiently develop new, innovative assays in the field of cancer care.”
Fujirebio Diagnostics specializes in the clinical development, manufacture, and commercialization of in-vitro diagnostic products for the management of human disease states, with an emphasis on oncology. The company is currently developing a series of new diagnostic products to help physicians detect and/or monitor cancers associated with the bladder, lungs, and ovaries.
“This merger will result in greater resources for product development while creating a broader market platform for CanAg Diagnostics’ existing product portfolio,” says Jan Sundqvist, CanAg Diagnostics’ president and CEO. “The merger with Fujirebio Diagnostics is recognition of the achievements of CanAg Diagnostics. The complementary synergies in R&D and clinical focus areas create stimulating possibilities for the future and we are looking forward to being a part of Fujirebio Diagnostics,” says Olle Nilsson, vice president, CSO, and co-founder of CanAg Diagnostics.
“The strategic aims for the Venture Capitalists when investing in CanAg Diagnostics were to build value in a leading in-vitro diagnostics company with a strong product portfolio and positive cash flow. The divestment of the company marks the completion of these strategic aims,” says Anders Bergholtz, chairman CanAg Diagnostics.
