January 19, 2021 – Thermo Fisher Scientific Inc. (Waltham, MA) announced it has entered into a definitive agreement to acquire Mesa Biotech, Inc. (San Diego, CA), a privately held molecular diagnostic company, for approximately $450 million in cash.
Under the terms of the agreement, Thermo Fisher will pay up to an additional $100 million in cash upon the completion of certain milestones following the close of the transaction.
Mesa Biotech has developed and commercialized a PCR-based rapid point-of-care testing platform available for detecting infectious diseases including SARS-CoV-2, Influenza A and B, respiratory syncytial virus (RSV) and Strep A. Mesa Biotech’s patented technology expands the availability of gold standard nucleic acid PCR amplification to point-of-care diagnostics.
Mesa Biotech’s Accula Flu A/Flu B, RSV and Strep A tests have obtained 510(k) clearance and Clinical Laboratory Improvements Amendments (CLIA) waivers from the U.S. Food and Drug Administration (FDA).
Additionally, the Accula System has received Emergency Use Authorization (EUA) from the FDA for SARS-CoV-2 in vitro diagnostic testing and is now available for use in patient care settings, providing results within 30 minutes.
The company has approximately 500 employees and revenues in 2020 of approximately $45 million.
The transaction is expected to be completed in the first quarter of 2021. Upon completion, the business will become part of Thermo Fisher’s Life Sciences Solutions Segment.