Roche Diagnostics announces plans to acquire BioVeris

Roche Diagnostics has announced that it has singed a definitive merger agreement with BioVeris, with Roche looking to expand its electrochemiluminescence (ECL) based immunochemistry business as a result of the transaction.

According to the agreement, Roche will purchase BioVeris for a total price of $600 million (304 million pounds), equating to an offer of $21.50 per share.

Following the purchase of BioVeris, Roche Diagnostics will aim to broaden the scope of its immunochemistry efforts to include life science research, life science development, drug discovery and development, patient self-testing and clinical trials.

As a result of the transaction, Roche Diagnostics will own the patent of ECL technology used in the Elecys product range.

Severin Schqan, chief executive officer of Roche Diagnostics, said: “ECL is a highly innovative technology.

“In comparison with other detection technologies ECL offers distinct advantages such as enhanced sensitivity, short incubation times and broad measuring ranges.”

He added that the purchase of BioVeris would enable the company to provide its customers with unfettered access to the technology and facilitate the expansion of its immunochemistry business.

Earlier this year, Roche Diagnostics announced that it had signed a licence agreement with Multilyte to enhance the company’s position in the field of immunodiagnostics.