WALTHAM, Mass., Jan. 19, 2021 /PRNewswire/ — Thermo Fisher Scientific Inc. (NYSE: TMO), the serving science world leader, made the announcement today that they have agreed to acquire Mesa Biotech, Inc. for a cash payment of approximately $450 million. Under the terms of the agreement to purchase the privately-held molecular diagnostic company, Thermo Fisher will make an additional cash payment of up to $100 million once specific milestones have been completed after the transaction is closed. Mesa Biotech has developed and marketed a PCR-based testing platform for detecting infectious diseases including SARS-CoV-2, Influenza A and B, respiratory syncytial virus (RSV), and Strep A. This new, patented technology makes gold-standard nucleic acid PCR amplification possible with point-of-care diagnostics. Mesa Biotech operates from San Diego, California. They employ approximately 500 staff and in 2020 the company boasted revenues close to $45million. Mesa Biotech’s Accula™ Flu A/Flu B, RSV, and Strep A tests have been given 510(k) clearance and Clinical Laboratory Improvements Amendments (CLIA) waivers from the U.S. Food and Drug Administration (FDA). The Accula System has also been granted Emergency Use Authorization (EUA) by the FDA for SARS-CoV-2 in-vitro diagnostic testing. Available now across a range of healthcare settings, the system generates results in under 30 minutes, and with better accuracy than many other rapid tests. Mark Stevenson, Thermo Fisher Scientific’s executive vice president and chief operating officer, is understandably pleased. “Mesa Biotech’s innovative platform will enable us to accelerate the availability of reliable and accurate advanced molecular diagnostics at the point of care. Since the start of the pandemic, Thermo Fisher has acted quickly to provide support to the scientists and healthcare professionals at the frontlines of combating COVID-19,” he announced. “The addition of Mesa Biotech’s easy-to-use, rapid PCR-based test is highly complementary to our existing offering and will further help us meet the continuing demand for COVID-related testing while we work to rapidly scale and develop point-of-care tests for other infectious diseases in the future.” Ingo Chakravarty, Mesa Biotech’s president and chief executive officer, agreed. “I am extremely proud of the remarkable accomplishments Mesa Biotech has achieved to date and excited about the prospects of becoming a part of Thermo Fisher. Mesa’s innovative rapid PCR platform technology, combining PCR accuracy with mobility and test results in 30 minutes, has already played a meaningful role in the collective efforts combating the pandemic. Thermo Fisher’s scale, innovation and global reach will allow us to more significantly amplify the impact our technology will have on human health, during the pandemic, and far beyond.” The acquisition will probably be concluded in the early part of 2021, dependent on regulatory approval and closing conditions being met, and Mesa Biotech will then be integrated into Thermo Fisher’s Life Sciences Solutions.
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