Clairfield advises Scope Fluidics on the sale of its subsidiary Curiosity Diagnostics to Bio-Rad Laboratories for USD 170 million
Bio-Rad Laboratories, Inc. (NYSE: BIO and BIOb), a global leader in life science research and clinical diagnostic products, announced today that it has reached an agreement to acquire all of the outstanding shares of Curiosity Diagnostics, Sp. Z. o. o. from Scope Fluidics, S.A. (WSE NewConnect: SCP), a Warsaw, Poland, based developer of innovative technology solutions for the medical diagnostic and healthcare markets, for a total consideration of up to $170 million, consisting of approximately $100 million in cash, and up to $70 million in future milestone payments.
Curiosity Diagnostics, a late-stage, pre-commercial platform company, is in the process of developing a sample-to-answer, rapid diagnostics PCR system for the molecular diagnostics market.
“We are excited to have the Curiosity Diagnostics team join Bio-Rad’s Clinical Diagnostics Group and to work closely together to bring a new generation of rapid PCR systems to market,” said Dara Wright, Bio-Rad’s EVP and President, Clinical Diagnostics Group. “Curiosity’s PCR platform, PCR|ONE, offers a streamlined workflow and rapid turnaround times, and is expected to extend our reach beyond high-complexity labs into near-patient molecular diagnostics labs.”
Scope Fluidics President and co-founder, Professor Piotr Garstecki, added, “Our passion at Scope Fluidics is developing innovative technologies addressing the greatest challenges in global health. The dedicated, entrepreneurial team of highly skilled, specialized personnel of Curiosity Diagnostics is looking forward to further developing the PCR|ONE technology under Bio-Rad’s leadership while we at Scope Fluidics continue to pursue new and current projects in disruptive medical diagnostics.”
Bio-Rad Laboratories, Inc. (NYSE: BIO and BIOb) is a global leader in developing, manufacturing, and marketing a broad range of innovative products for the life science research and clinical diagnostic markets. With 70 years of focus on quality and customer service, our products advance the scientific discovery process and improve healthcare. Our customers are universities, research institutions, hospitals, biotechnology and pharmaceutical companies, as well as public health and commercial laboratories including food safety and environmental quality testing facilities. Based in Hercules, California, Bio-Rad has a global network of operations with approximately 7,900 employees worldwide and $2.9 billion in revenues in 2021. For more information, please visit bio-rad.com.
Scope Fluidics, S.A. (WSE NewConnect: SCP) is a Warsaw, Poland, based developer of innovative technological solutions for the medical diagnostics and healthcare markets through wholly owned limited liability companies. Scope Fluidics is developing the PCR|ONE technology for rapid, automated detection of infections via highly multiplexed PCR assays, and the BacterOMIC system for high-content automated antibiotic susceptibility testing. Both systems were awarded recognition in the 2019 American Association for Clinical Chemistry Disruptive Technology Competition. For more information, please visit scopefluidics.com.
Clairfield Partners and CET Polska, members of Clairfield International, acted as transaction advisor to Scope Fluidics, S.A.
“Clairfield International provided early support in our efforts to find an acquiror for Scope Fluidics’ subsidiary Curiosity Diagnostics. Clairfield’s persistence and continuous involvement that spanned several years allowed us to be where we are today. We were very fortunate to have Clairfield International as our sell-side advisor as their negotiating skills and transaction experience proved to be instrumental in maximizing the company’s value and conditions of the closed deal,» said Piotr Garstecki, CEO of Scope Fluidics.
Clairfield deal team: Edward Grey, Crosby O’Hare, Peter Chudy, and Charles Jonscher.