Business Wire

Mobidiag Announces Joint Venture with Autobio Diagnostics and €10m Equity Investment

Jaa

Mobidiag Ltd., a commercial stage molecular diagnostics company addressing the spread of antimicrobial resistance, today announces that it has entered into a joint venture (‘JV’) agreement with Autobio Diagnostics (‘Autobio’), one of the leading clinical diagnostics companies in China, to commercialise the Novodiag® platform in China. In addition, Mobidiag announces that it has secured a separate €10m equity investment from Autobio. Lynx Financial (HK) Ltd, served as the exclusive financial advisor to Mobidiag in this transaction.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181217005272/en/

Mobidiag and Autobio will jointly invest €12.3m to establish a joint venture company in China. Autobio will invest €8m in cash to hold 65%, and Mobidiag will invest €4.3m to hold 35%.

Mobidiag will grant to the JV an exclusive license for human infectious disease assays (except for sepsis) for China. Initial activities of the JV will include the registration of the Novodiag® platform and three assays for the rapid detection of respiratory and gastroenteric infections and meningitis with the National Medical Products Administration (NMPA, former CFDA). The JV will also finance the establishment of local facilities in China to manufacture some Novodiag® components and disposables.

Proceeds from the €10m equity investment will be used by Mobidiag to continue growing its product portfolio, accelerate the development of further assays for the Novodiag® system and enhance its manufacturing capabilities, as well as continuing to facilitate Mobidiag’s commercial expansion.

The Novodiag® platform is an innovative molecular diagnostics solution allowing fully automated detection of infectious diseases, including antibiotic resistances. The platform combines real-time PCR and microarray technologies, to allow direct analysis of samples placed in a disposable cartridge. It also allows for comprehensive screening of multiple or single pathogens within approximately one hour, allowing clinicians to be better informed when making time-critical decisions, helping to deliver early treatments and avoid the spread of infection.

Tuomas Tenkanen, CEO of Mobidiag, said “We are excited to enter into this new Joint Venture with Autobio Diagnostics, a leader in IVD field in China. We are confident that their unparalleled access to the rapidly growing Chinese market combined with Mobidiag’s deep expertise in molecular diagnostics will result in a successful partnership that will bring syndromic diagnostic panels to China at an affordable price.

“The €10m equity investment strengthens our cash balance and will allow us to advance our wider strategy to grow sales internationally and launch more innovative and affordable molecular solutions to advance the diagnosis of infectious diseases and antibiotic resistances.”

Yongjun Miao, Chairman of Autobio said “In China, due to a lack of rapid, accurate and low cost diagnosis of pathogens, the timely and effective treatment of infectious diseases is limited and the misuse of antibiotics is not uncommon. Mobidiag’s Novodiag ® system is low cost, easy to operate, multi-target, and has a wide application and great market prospects. The cost advantages of setting up Joint Venture in China will further enhance the competitive force of the Novodiag ® system. Both Mobidiag’s and Autobio’s teams share the same vision for the Joint Venture, and already have a common culture, and we are excited by the prospects for the future.”

Donald Xu, Managing Partner of Lynx Financial, commented: “This deal epitomizes the current trend in cross-border transactions in the healthcare sectors between China and western countries. The strategy of combining investment with joint venture, will be the playbook for many upcoming and innovative companies to catapult their regulatory and commercialization process, and to compete against the entrenched MNCs, not only in China market, but also the rest of the world.”

Notes to editors

About Mobidiag Ltd

Mobidiag is a commercial stage, fast growing molecular diagnostics company whose affordable, widely applicable and robust technology makes the power of molecular diagnostics available to address the spread of antimicrobial resistance (AMR) by rapid detection of pathogens and their potential resistance to antibiotics. Through its Amplidiag® and Novodiag® solutions, Mobidiag offers a comprehensive range of fast, reliable and cost-effective molecular diagnostic solutions for the detection of infectious diseases to laboratories of all sizes.

Mobidiag is headquartered in Espoo, Finland, with subsidiaries in France, UK and Sweden. To learn more, visit www.mobidiag.com

About Autobio Diagnostics Co, Ltd

Founded in 1998, Autobio has become one of the leading clinical diagnostics companies in China. Autobio specializes in research & development, production, marketing and service of clinical diagnostic products, including immunoassay, microbiology and biochemical products. Autobio provides comprehensive solutions for medical laboratories.

About Lynx Financial

Lynx Financial is a leading boutique Investment bank focusing on Life Sciences and Healthcare sectors. With offices in both China and U.S., Lynx Financial specializes in cross-border transactions involving private placement, M&A, joint venture and licensing.

Contact information

Mobidiag
Dorothee Allard, Marketing Communications Manager
+33 1 55 25 17 13
marketing@mobidiag.com

Lynx Financial (Financial Advisor in China)
Flora Gao, Senior Vice President
1501 Century Ave.
GuoHua Life Financial Center, Suite 1001
Shanghai, China 200122
lynx@lynx-financial.com

WG Partners (Financial advisor to the company outside the China region)
Andrew Craig, Partner
+44 203 705 9320
andrew@wgpartners.co.uk

Consilium Strategic Communications
Chris Gardner, Matthew Neal, Chris Welsh
T: +44 (0)203 709 5700
mobidiag@consilium-comms.com

Tietoja julkaisijasta

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Tilaa tiedotteet sähköpostiisi

Haluatko tietää asioista ensimmäisten joukossa? Kun tilaat mediatiedotteemme, saat ne sähköpostiisi välittömästi julkaisuhetkellä. Tilauksen voit halutessasi perua milloin tahansa.

Lue lisää julkaisijalta Business Wire

Lehman Brothers Treasury Announces the Successful Auction of a Portion of its Intercompany Claim against Lehman Brothers Holdings Inc.20.3.2019 21:15:00 EETTiedote

In connection with its previously announced partial wind-down, Lehman Brothers Treasury Co. B.V. in liquidation (“LBT”), through its U.S. counsel Kramer Levin Naftalis & Frankel LLP, announced that its placement agent, Seaport Loan Products LLC, successfully concluded an auction of a US$10,475,844,413 portion of LBT’s US$34,548,000,000 intercompany claim (the “Intercompany Claim”) against Lehman Brothers Holdings Inc. for a total gross purchase price of US$179,472,166. The sale is expected to close during the first week of April 2019. The net proceeds of the sale (after deducting various sale-related costs and expenses), together with certain available cash, will be used to fund a final distribution to creditors of LBT who do not receive substitute notes as a result of LBT’s prior solicitation process. For more information on the partial wind-down, including information about the Intercompany Claim sale, the final cash distribution, and anticipated timelines, an Information Notice has

Susan Ochs Joins PSB as Global Head, Financial Services20.3.2019 20:34:00 EETTiedote

PSB, a global research-based consultancy, announced today that Susan Ochs has joined the firm as Senior Vice President and Global Head, Financial Services, effective immediately. Ochs is based in New York and is responsible for the global development of the financial services practice and will contribute to other industry practices as well. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190320005671/en/ Susan Ochs, SVP, Global Head, Financial Services, PSB (Photo: Business Wire) “We are proud of the amazing brands we currently partner with across the financial sector,” said Mike Chuter, CEO, PSB, to whom Ochs reports. “With Susan’s combination of private and public finance expertise we’ll be able to deliver even more meaningful insights to our current and future partners. We are delighted to welcome Susan and are excited about the deep experience she brings.” Ochs has more than two decades of experience across the financial

Corsair Infrastructure Partners Announces Long Term Investments by HarbourVest Partners20.3.2019 17:35:00 EETTiedote

Corsair Infrastructure Partners (“CIP”), the global infrastructure investment business of Corsair Capital (“Corsair”), today announced that HarbourVest Partners (“HarbourVest”), a leading institutional investor active across multiple asset classes and geographies, has invested in three new CIP-managed funds established to deploy capital in the aviation, port, and road sectors. Earlier this year, CIP’s new funds closed on the acquisitions of shareholdings in three platform companies – the airport developer Vantage Airport Group, the Australian stevedore DP World Australia, and the Spanish toll-road operator Itínere Infraestructuras – from various selling shareholders including Gateway Infrastructure Investments, a legacy CIP-managed vehicle. The investments from HarbourVest come from a long-term pool of institutional capital dedicated to supporting infrastructure equity sponsors like CIP, and will play an important role in the execution of CIP’s growth strategies for all three platforms

Fishawack continues to build best-in-class service offering with Dudnyk acquisition20.3.2019 16:00:00 EETTiedote

Fishawack, a leading independent healthcare communications specialist, is excited to announce its acquisition of Dudnyk, the Philadelphia-based healthcare communications agency. Dudnyk is an award-winning, full-service agency that specializes in creating insight-driven, authentic brand experiences that unite specialty physicians and their patients. They leverage strategic, scientific, and creative capabilities to serve clients in the biotech, pharmaceutical, and medical device industries. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190320005204/en/ Dudnyk leadership team includes Christopher Tobias, PhD, President; Laurie Bartolomeo, EVP, Creative Director; Drew Desjardins, EVP, Chief Strategy Officer; Annemarie Armstrong, EVP, Director of Client Services; John Kemble, EVP, Creative Producer. (Photo: Business Wire) Fishawack’s goal is to increase the range of healthcare communications services that it can offer to commerc

ExaGrid Nominated in Six Categories for the 2019 Network Computing Awards20.3.2019 15:00:00 EETTiedote

ExaGrid ®, a leading provider of intelligent hyperconverged storage for backup, today announced that it has been nominated in six categories for the 2019 Network Computing Awards. ExaGrid has become a finalist for Data Centre Product of the Year, The Return on Investment Award, Hardware Product of the Year, Product of the Year, The Customer Service Award, and Company of the Year. Voting to determine the winner in each category is underway now and closes on April 23. The results will be revealed at an evening award ceremony in London on May 2. ExaGrid’s model EX63000E backup storage appliance with data deduplication is a nominee in four categories. The model provides the largest scale-out system and offers up to a 2PB full backup with an ingest rate of 432TB/hr, which is three times faster than any other backup storage on the market. “We are thrilled to be nominated by IT staff, and recognized by Network Computing, in six prestigious categories this year,” said Bill Andrews, CEO and Pre

Eos Biosciences Issued Patent for New Approach to Shuttle Therapeutics Across the Blood-Brain Barrier to Treat Brain Diseases20.3.2019 14:30:00 EETTiedote

Eos Biosciences, Inc. (Eos), a nanomedicines company developing an efficient and versatile nanobiologic particle-based platform technology (Eosomes), announced that the U.S. Patent and Trademark Office has granted Eos Biosciences Patent No. 10,183,078, relating to a novel approach of using HER3-targeted Eosomes as a shuttle system for transporting various classes of therapeutics across the blood-brain barrier for treatment of brain disorders, including brain cancer. The patent is owned by Cedars-Sinai Medical Center and is exclusively licensed to Eos Biosciences. Details of the system will be highlighted in an upcoming manuscript from Lali Medina-Kauwe, PhD, Professor, Department of Biomedical Sciences, Cedars-Sinai. Omar Haffar, Ph.D., Founder, President and Chief Executive Officer, commented, “We’re very excited by the issuance of this pivotal patent and look forward to receiving similar approvals in other countries. This patent adds to Eos’ considerable IP portfolio covering the Eos

Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.

Tutustu uutishuoneeseemme