Oxford Immunotec, the Abingdon-based diagnostics company founded in 2002 is to be bought by US-based diagnostic science company PerkinElmer.
The terms of the acquisition value the company at approximately $591 million.
PerkinElmer said that the acquisition will help it grow its portfolio of advanced infectious disease testing solutions to include tuberculosis detection
Oxford Immunotec’s T-SPOT.TB test is a unique, single visit blood test for tuberculosis. The company is recognised as a global leader of proprietary test kits for latent tuberculosis. Its Interferon Gamma Release Assay (IGRA) offering identifies individuals who are infected with tuberculosis. Oxford Immunotec had approximately 275 global employees as of September 30, 2020 and reported total revenue from continuing operations of $73.7 million and $39.2 million as of the fiscal year ended December 31, 2019 and the nine months ended September 30, 2020, respectively.
Peter Wrighton-Smith, PhD, Chief Executive Officer of Oxford Immunotec, said: “We are delighted to be joining the PerkinElmer family. We believe this transaction is great for our shareholders, our employees and our customers. Access to PerkinElmer’s global reach and automation experience will enable us to accelerate our growth journey and make a growing impact in the field of infectious disease.”
Prahlad Singh, PhD, President and Chief Executive Officer of PerkinElmer, said: “Tuberculosis remains one of the leading infectious causes of death, with close to one quarter of the world’s population infected. We believe Oxford Immunotec’s diagnostic testing solution plays an important role in slowing the spread and saving lives. Oxford Immunotec’s highly sensitive test and their team’s passion for solving complex health issues make it a natural fit with PerkinElmer’s mission and together, we believe will accelerate development of robust solutions to help detect infectious disease.”
PerkinElmer’s comprehensive global diagnostics portfolio includes solutions focused on immunodiagnostics, in areas of immunology and infectious disease; Reproductive Health, with a focus on newborn and prenatal testing; and Applied Genomics, which includes fully automated sample to answer solutions around genomics and molecular testing.
Oxford Immunotec’s leading product, the T-SPOT®.TB test, is used for diagnosing infection with Tuberculosis, the world’s largest cause of death from infectious disease. Oxford Immunotec has manufactured in excess of 20 million clinical T cell tests for TB infection which have been approved for sale in more than 50 countries, including the United States, where it has received pre-market approval from the Food and Drug Administration, Europe, where it has obtained a CE mark, as well as Japan and China.