Eurobio Scientific acquires Dutch transplant diagnostics firm GenDx

FRANCE- Eurobio Scientific a leading French group in in-vitro medical diagnostics and life sciences has acquired Genome Diagnostics (GenDx), a Dutch startup that provides molecular diagnostic kits in a deal valued at €135 million (US$131 million).

The acquisition will result in the establishment of a foundation to support transplantation research and development.

GenDx’s operations will continue in both its Utrecht headquarters and its North American office in Chicago.

The GenDx portfolio will be maintained and supported by the company’s current mature sales and global distributor network.

The Dutch human leukocyte antigen (HLA) typing company specializes in molecular diagnostics, matching patients and donors for bone marrow or cord blood transplants.

GenDx, founded in 2005, specializes in transplant molecular diagnostics, using high-resolution HLA typing to assess donor-recipient compatibility.

The two companies signed an agreement for the potential acquisition in August of this year.

Eurobio financed the acquisition in part with its own cash and in part with a loan from a syndicate of banks that included LCL, BNP, Crédit Agricole Ile de France, BRED, and CIC. Completion of this operation is subject to the finalization of the bank financing contract.

To preserve financial resources, the company secured a total loan of €90 million (US$87.5 million) and holds an option to increase the loan by €40 million (US$38.9 million) over a three-year period.

Eurobio intends to use a portion of the loan to repay the outstanding balance of its March 2020 syndicated loan, which is estimated to be around €4.5 million (US$4.4 million).

Eurobio stated that the acquisition will broaden its commercial portfolio with HLA diagnostic products and expand its geographic footprint, primarily in Europe and the United States.

GenDx is developing and marketing a full range of products, including HLA typing reagents, software for analyzing sequencing results, and training modules.

The company employs over 80 people, the majority of whom work in the Netherlands, and has sales force teams in Benelux, Germany, and the United States.

Eurobio is able to expand its scientific and technical capabilities with the acquisition of GenDx, thanks to significant know-how in human leukocyte antigen (HLA) and next-generation sequencing (NGS) technologies.

The company will benefit from GenDx’s advanced diagnostic digitization technology via algorithms and software, as well as its geographical footprint.

GenDx will provide Eurobio with distributors in the rest of Europe, Asia, and other parts of the world, with direct presence in the Netherlands, Germany, and North America.

Eurobio Scientific owns a broad and diversified portfolio of products in four specialty areas, including transplantation, infectious diseases, life science, and cancer.

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