Business Wire

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

Del

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

Om Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Følg saker fra Business Wire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Business Wire

Her Excellency Sheikha Hind Attends International Universities Arabic Debating Championship Closing Ceremony21.3.2019 15:03:00 CETPressemelding

Her Excellency Sheikha Hind bint Hamad Al Thani, Vice Chairperson and CEO of Qatar Foundation (QF), attended the closing ceremony of the fifth edition of the International Universities Arabic Debating Championship (IUDC) organized by QatarDebate, a member of QF. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190321005482/en/ Princess Sumaya University for Technology in Jordan takes First Place (Photo: AETOSWire) The championship – held under the patronage of Her Excellency Sheikha Hind bint Hamad Al Thani – took place at Qatar National Convention Centre from March 16-20, 2019, and included 107 teams from 51 Arab and non-Arab countries. During the ceremony, Her Excellency Sheikha Hind presented the winners with their awards. The debate team from Princess Sumaya University for Technology in Jordan took first place in this year’s edition of IUDC. The boys’ team from Qatar University was awarded second place, while the team from

Taulia Enhances Platform with New Artificial Intelligence Capabilities in a World First for Working Capital Solutions21.3.2019 15:00:00 CETPressemelding

Harnessing the latest developments in AI technology, Taulia’s upgraded platform supports simplified, informed decision-making and strengthens the buyer-supplier relationships. Taulia has upgraded its platform with a set of new world-class AI capabilities. Rate of suppliers taking advantage of early payment offers increases three fold. The enhanced platform supports companies in making better informed decisions about their working capital and cash. Working capital solutions provider, Taulia, has rolled out a new version of its buyer platform, bringing enhanced artificial intelligence (AI) capabilities to its programs. Companies now have the power of AI at their fingertips with the next-level enhancement of Taulia’s platform. The platform taps into aggregated data on supplier behavior, such as the historic timing of payments and the annual percentage rate (APR) accepted by suppliers when taking early payment, plus other factors including seasonality. By overlaying this with external data

Life-Sciences and Healthcare Communications Leaders John “Zeke” Czekanski and Scott Roberts Join Citrus Global Healthcare Communications Group as Managing Partners21.3.2019 14:21:00 CETPressemelding

Industry leaders John “Zeke” Czekanski and Scott Roberts have joined Citrus Global Healthcare Communications Group as Managing Partners. Zeke will oversee Citrus Scientific while Scott brings his extensive global market access and value experience in guiding Citrus Access. Together they will actively co-manage Citrus Strategy, providing insights enabling clients to innovate with confidence, broaden opportunities, and drive meaningful human-health outcomes forward. “I’m thrilled to be part of the Citrus Group working in partnership with our clients, the medical community, payers, government agencies, and global healthcare stakeholders. We look forward to delivering meaningful scientific insights and market-access solutions,” commented Zeke. Scott added, “There is a critical need in our industry, especially with highly innovative small to mid-size life-science companies, for a transformational agency applying data and analytics along with a holistic approach to the communications continu

Abzena Announces New Fully Integrated Developability and Optimization Service to Improve Lead Selection and De-risk Biologic Cell Line Development21.3.2019 13:44:00 CETPressemelding

Abzena, the leading biologics target to GMP partner research organisation (PRO), announced its Cambridge UK site has brought together its extensive discovery, immunogenicity assessment, protein engineering, formulation, bioassay and analytical expertise to launch a developability assessment and optimization service to assist customers in selecting and developing the best lead candidate to take forward for manufacture. The new Developability Service reduces the time, risk and cost required to take multiple lead candidates through cell line development and manufacturing. Biologics have potential liabilities for safety, functionality, stability and scalability and when these issues are identified early alternate leads can be selected, liabilities engineered out or measures can be taken to mitigate risk. The Developability Service also enables the selection of drug candidates most aligned with the target product profile by evaluating a range of functionality and specificity readouts. The s

XPRIZE Identifies 10 Future Breakthroughs Required to Protect Our Forests21.3.2019 13:27:00 CETPressemelding

Today, on the United Nations’ International Day of Forests, XPRIZE is releasing the Future of Forests Impact Roadmap, created in partnership with Kimberly-Clark Corporation. The digital report and its interactive website, based on future foresight techniques, illustrate the breakthroughs required for a healthier forest ecosystem, which might be the basis of future XPRIZE competitions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190321005409/en/ Across the world, forests provide food security and shelter, protect biodiversity and house indigenous populations. While forests cover more than 30 percent of the Earth’s surface, more than 32 million acres of forests are lost due to human activity every year, with research showing that continued mass deforestation and degradation is accelerating climate change. XPRIZE designs and operates global competitions to incentivize the development of technological breakthroughs that accel

Mark Thorne Joins BCW as Global Chief Financial Officer and Chief Operating Officer21.3.2019 13:17:00 CETPressemelding

BCW (Burson Cohn & Wolfe), a leading global communications agency, announced today that Mark Thorne has been appointed Global Chief Financial Officer and Chief Operating Officer, effective immediately. Thorne will be a strategic partner to BCW Global CEO Donna Imperato in transforming the agency’s financial model to better reflect its wide range of services and offerings. He is based in New York and replaces Pat Przybyski, formerly Global Chief Financial Officer. “Mark is well known for his strong business acumen, deep operational experience and high-level strategic thinking,” said Imperato. “I have known Mark for many years and am thrilled to now call him my partner. He is the right leader to help BCW execute our strategies and grow exponentially.” Thorne spent the past 20 plus years with Hill+Knowlton Strategies in a range of leadership roles, most recently serving as Global Chief Financial Officer and Global Chief Operating Officer. Prior to that, Thorne was Executive Vice President