Thermo Fisher to Acquire Rapid PCR-Based Test For COVID-19

Thermo Fisher Scientific has announced plans to acquire Mesa Biotech, a privately held molecular diagnostic company, for approximately $450 million in cash. Under the terms of the agreement, Thermo Fisher will pay up to an additional $100 million in cash upon the completion of certain milestones following the close of the transaction which is expected to take place in Q1 2021. Upon completion, the business will become part of Thermo Fisher’s Life Sciences Solutions Segment.

Mesa Biotech has developed and commercialized a PCR-based rapid point-of-care testing platform available for detecting infectious diseases including SARS-CoV-2, Influenza A and B, respiratory syncytial virus (RSV) and Strep A. Mesa Biotech’s patented technology expands the availability of gold standard nucleic acid PCR amplification to point-of-care diagnostics.

The company’s Accula System has received Emergency Use Authorization (EUA) from the FDA for SARS-CoV-2 in vitro diagnostic testing and is now available for use in patient care settings, providing results within 30 minutes, with higher accuracy than other rapid tests on the market. The company is based in San Diego and has approximately 500 employees and revenues in 2020 of approximately $45 million.

Ingo Chakravarty, president and CEO of Mesa Biotech said, “…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.” (Source: Thermo Fisher Scientific Website, 19 January, 2022)