Investing.com -- Shares of bioMérieux (EPA:BIOX) rose over 4% on Monday after the company said it is going to buy SpinChip Diagnostics ASA, a Norwegian diagnostics company.
SpinChip has developed an innovative immunoassay platform that promises to transform near-patient testing.
The deal, which positions bioMérieux for growth in the in vitro diagnostics market, is valued at €138 million, with the company paying about €111 million for the remaining 80% stake, having already held a 20% share since March 2024.
SpinChip’s technology has garnered attention for its ability to deliver lab-quality results from a whole blood sample within just 10 minutes.
This compact analyzer is designed to support faster, more efficient diagnostics in acute care settings, where timely decisions are crucial.
The platform’s first test, focusing on high-sensitivity cardiac troponin I (hs-TnI), has shown strong performance in a retrospective clinical study and is currently undergoing a European multicenter trial.
The company aims to secure CE marking under the In Vitro Diagnostic Regulation by the end of 2025.
bioMérieux said that SpinChip’s platform addresses a critical need in diagnosing myocardial infarction, a leading global cause of death.
Existing methods for detecting MI rely on high-sensitivity cardiac troponin assays, which, while accurate, are often hindered by lengthy sample processing and transportation times.
These delays contribute to extended emergency department stays and increased healthcare costs. SpinChip’s technology, which delivers fast, precise results near the point of care, could help alleviate these challenges.
Initially, SpinChip will focus on established cardiac markers such as hs-TnI, NT-proBNP, and D-Dimer, which are essential in acute care scenarios. The company also plans to broaden its test menu to include other areas relevant to emergency medicine.
The deal is expected to boost bioMérieux’s long-term growth prospects, with the first product launch anticipated in 2026.
The company believes that SpinChip’s solutions could increase its diagnostics portfolio and drive business expansion beyond 2028.
The integration and development costs for SpinChip will be covered through bioMérieux’s existing R&D investments, which represent around 12% of annual sales, by reallocating internal resources.