Roche purchases molecular diagnostics firm IQuum

Roche has announced the acquisition of IQuum, a US-based company focused on developing point-of-care offerings for the global molecular diagnostics market.

This takeover provides Roche with access to IQuum's Laboratory-in-a-tube (Liat) System, which enables healthcare workers to perform rapid molecular diagnostic testing in a point-of-care setting with minimal training.

The Liat Analyser and Liat Influenza A/B Assay, which is the first test available for use on the system, produce reliable and accurate lab-like results. Both have received European CE Mark and US Food and Drug Administration approval.

Roche will pay IQuum shareholders $275 million (165.51 million pounds) upfront and up to $175 million in product-related milestones. Once the transaction is complete, IQuum will be integrated into Roche Molecular Diagnostics.

Roland Diggelmann, chief operating officer of Roche Diagnostics, said: "With IQuum, we further strengthen our molecular diagnostics offerings with cutting-edge technology and products that serve the point of care segment."

This comes after the company's diagnostics division experienced a four percent year-on-year increase in sales during 2013.