News

Aegirbio creates the multi-diagnostic company of the future – acquires LifeAssays and Abreos Bioscience

The Board of Directors of AegirBio AB (publ) has today resolved to acquire LifeAssays AB and Abreos Bioscience. Through these acquisitions, Aegirbio becomes a leading multi-diagnostic company with new opportunities for expansion on the world market.

The acquisitions of LifeAssays and Abreos Bioscience imply that Aegirbio secures the world-leading technology that serves as the basis of the products that will bring the Company into the future and opens up new opportunities for expansion on the world market.

Aegirbio is provided the resources that will ensure the Company’s global launch of innovative products on its technology platforms with multi-diagnostic applications. As a result, many of the current test methods will be replaced.

Aegirbio’s technology platforms with multi-diagnostic applications follow and advance the current trend to substitute large arrays of tests sent away to laboratories with a single safe, cost-efficient and faster point-of-care test that can be carried out at the clinic or at home.

“Through the acquisitions of Abreos Bioscience and LifeAssays, we are building an innovative and leading multi-diagnostic company with huge opportunites for growth in areas that have gained importance for the health care system, patients and the society at large. We are thus taking the next step on the envisioned aquisition trajectory that was presented to the market at the end of July 2020”, says Martin Linde, CEO of AegirBio AB.

Together with the Viraspec and Thyrolytics acquisitions in the fall, this will achieve significant synergies by means of accelerated product development and streamlined research and development. At the same time, future sales and marketing efforts will be rendered more effective.

“In concrete terms, this means that we will be able to develop and manufacture point-of-care tests and at-home tests substantially faster than today,” says Martin Linde.

The acquisition of LifeAssays provides Aegirbio full access to the technologies related to point-of-care tests that the Company today uses under license. In addition, new opportunities for expansion are created, since LifeAssays’ platform for simple and accurate at-home testing (QDA) and unique sample-processing technology (SampleX) may develop into a key technology for Aegirbio’s at-home testing effort in the near future.

The acquisition of Abreos secures Aegirbio’s access to existing and further developed Veritope technology. During the work related to COVID-19, Abreos’ Veritope molecules have proven to be a key reagent, indicating important applications even beyond the Biological drugs business area.

The successful cooperation with Abreos Bioscience and LifeAssays in the establishment of Proof of Principle for point-of-care tests is expected to have an important impact on Aegirbio’s move into pharmaceutical development, where diagnostics for selection and follow-up of patients is an integral part.

Abreos Bioscience currently has production capacity and sales channels that are being prepared for the COVID-19-related launch, and these will be used for other tests and across several markets simultaneously. This will make the best use of the companies’ existing and future networks of distributors and partners, even beyond the antibody tests possible today.

“When we founded Aegirbio, I was convinced that we shared a vision for diagnostics based on our combined technology to change and improve personalized dosing of biological drugs. Having worked closely with Anders and Martin, it has become clear that we share a broader vision of building an integrated personalized pharmaceutical company and that the best way of achieving that would be to fully integrate our companies and managements. I am pleased to be a part of this team and company moving forward, and I know that we have mapped out the best possible route for all stakeholders involved,” says Bradley Messmer, CEO of Abreos Bioscience.

“LifeAssays, with its subsidiary Magnasense, has out-licensed key technology to Aegirbio to allow physicians and patients to benefit from the Company’s high-quality tests, essential to the life and quality of life of patients. The acquisitions carried out by Aegirbio in the fall and Aegirbio’s vision for future development entail that LifeAssays’ technology will become even more crucial for the Company. Hence, taking this step feels like the logical and right thing to do, to benefit from Aegirbio’s growing competence and technology portfolio so that we with joint resources can step up the pace of development of our unique technology platforms,” says Anders Invarsson, CEO of LifeAssays.

Key individuals from Abreos Biosciece and LifeAssays will take up new significant positions in Aegirbio, raising the efficiency of the company as a whole.

For more information, please contact:
Martin Linde, CEO, AegirBio AB
E-mail: mlinde@aegirbio.com
Telephone: +46 706 730 968