Platform Technologies Are In Demand: M&A Driver Intact
Exact Sciences (EXAS $7.50) continued to run today up 3% and 1.3 pts in five days on no apparent news except presentations at recent investment conferences. The Company is developing a molecular diagnostic platform for detection of altered sDNA associated with colon cancer. Three biomarker pathways are being utilized: DNA methylation, DNA mutation and hemoglobin. A pivotal clinical trial should be underway by Q3.
Qiagen (QGEN $20.41) is up 0.5% and announced Sunday that it will make a bid for the Australian diagnostic Company Cellestis for $355 or A$3.55 sh. Cellestis has a diagnostic platform called QuantiFERON which has been marketed for detection of latent TB (tuberculosis) and CMV(cytomegalovirus) with potential for other DNA or RNA, high sensitivity early disease tests. According to Celelstis, QuantiFERON technology provides “pre-molecular” information on latent infections where pathogens are present in low amounts that are difficult to detect with traditional DNA tests. Cellestis Revenues for the year ended June 30,2010 were $42M with a profit of $10.6M.