EDX Medical Group to Acquire Torax Biosciences

Original from: 360DX

UK digital diagnostics firm EDX Medical Group said Friday that it is acquiring in vitro diagnostics and immunochemistry firm Torax Biosciences.

Northern Ireland-based Torax will become a wholly owned EDX subsidiary as part of the deal. EDX develops PCR and genomic testing products and services for cancer, heart disease, neurology, and infectious disease testing, and Torax brings into the combined company its experience with in vitro diagnostics products design, development, manufacturing, and commercialization, the firms said.

The acquisition also provides Torax's laboratory capacity in support of EDX's laboratories in Cambridge.

Financial and other terms of the deal were not disclosed.

EDX Founder Chris Evans said in a statement that the Torax acquisition will strengthen and deepen EDX's innovation and product development capabilities.

"This enables us to provide an even wider range of testing solutions and data analysis," he said. "The Torax knowledge and capabilities in immunochemistry will accelerate our development of robust and innovative tests for cancer and other significant diseases."

Source: EDX Medical Group to Acquire Torax Biosciences