Mesa Biotech Archives - Medical Design Sourcing

Thermo Fisher completes Mesa Biotech acquisition

Thermo Fisher Scientific (NYSE:TMO) announced today that completed its previously announced acquisition of Mesa Biotech.

Last month, Waltham, Mass.-based Thermo Fisher announced its agreement to buy the point-of-care molecular diagnostic developer for approximately $450 million in cash. Mesa Biotech will become part of Thermo Fisher’s life sciences solution segment and is expected to bring in revenue of approximately $200 million in 2021, according to a news release.

The San Diego-based company has approximately 500 employees and revenues in 2020 of approximately $45 million.

Under the terms of the agreement, Thermo Fisher will pay up to an additional $100 million in cash upon the completion of certain milestones as well.

Mesa Biotech develops the Accula system for point-of-care PCR-based testing for infectious disease diagnoses. The affordable, easy-to-use platform enables rapid, accurate testing at physician offices, pharmacies and other s…

MedTech 100 roundup: Another peak for the industry

Medtech has been on the rise in 2021 and the past week saw that trend continue, as the industry hit yet another all-time best mark.

MassDevice‘s MedTech 100 index reached 107.4 points on Jan. 20, topping the all-time best of 106.81 points set on Jan. 8. That mark represents a 16% jump from the pre-pandemic high of 92.32 set on Feb. 19, 2020, and a 72.9% overall leap from the lowest point of 62.13 set on March 23, 2020.

Here are some of the best-performing medtech stocks from 2020.

The high point could not be sustained, but the industry stayed strong, finishing at 106.4 to end the week on Jan. 22. Medtech’s finish to last week was enough to top the previous seven days, coming in 0.6% ahead of the 105.8-point mark set on Jan. 15.

While medtech saw slight growth from the previous week, one of the overall markets saw a larger jump, with the S&P 500 Index rising 1.9%. The Dow Jones Industrial Average fared identically to medtech, rising 0.6%.

Thermo Fisher to acquire Mesa Biotech

Thermo Fisher Scientific (NYSE:TMO) today announced it will 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.

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. The San Diego-based company has approximately 500 employees and revenues in 2020 of approximately $45 million.

Mesa Biotech’s Accula Flu A/Flu B, RSV and Strep A tests have obtained 510(k) clearance and Clinical Laboratory Improvements Amendments (CLIA) waivers from the FDA. The agency also granted emergency use authorization for the Accula system for SARS-CoV-2 in vitro diagnostic …

NIH puts $249m into new COVID-19 tests

Quidel’s Sofia 2 point-of-care COVID-19 test. (Image from Quidel/NIH)

The National Institutes of Health (NIH) announced today that it is investing $248.7 million in new technologies to address challenges with COVID-19 testing.

The “Rapid Acceleration of Diagnostics” (RADx) initiative awarded contracts to seven biomedical diagnostic companies to support lab-based and point-of-care tests that could significantly increase the number, type and availability of tests by millions per week as early as September 2020, according to a news release.

Four of the selected technologies offer innovations in laboratory-based testing, including next-generation sequencing, CRISPR and integrated microfluidic chips for increasing testing capacity and throughput while reducing the time needed to receive results.

Remaining are three point-of-care technologies that provide nucleic acid and viral anti…