Oxford Immunotec Announces Purchase of Assets of Boulder Diagnostics Inc.
Dienstag, 05.08.2014 13:05 von DGAP
DGAP-News: Oxford Immunotec
Oxford Immunotec Announces Purchase of Assets of Boulder Diagnostics
Inc.
05.08.2014 / 13:00
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OXFORD, United Kingdom and MARLBOROUGH, Mass., 2014-08-05 13:00 CEST (GLOBE
NEWSWIRE) --
Oxford Immunotec Global PLC (Nasdaq:OXFD), a global, commercial-stage
diagnostics company committed to improving patient care by providing advanced,
innovative tests in the field of immunology, today announced that it has
acquired substantially all of the assets of Boulder Diagnostics Inc. Boulder
Diagnostics is a private diagnostics company based in Boulder, Colorado that is
developing immunology-based assays for rheumatology and infectious diseases.
In the transaction, which closed on July 31, 2014, Oxford Immunotec made an
upfront cash payment of $1.8 million and may make up to $6.1 million in
contingent milestone payments that could ultimately bring the total purchase
price to $7.9 million.
The $1.8 million upfront payment was made from the Company's existing cash
reserves. The milestone payments are contingent on clinical, intellectual
property and commercial launch milestones for the products under development.
The company does not expect any material change to its revenues as a result of
this acquisition and estimates it will incur additional operating expenses of
$1.5-$2.0 million in the remainder of 2014.
'I am pleased to announce the acquisition of these assets from Boulder
Diagnostics. This is an additional step in our strategy to build a leading
immunology-focused diagnostics company,' said Dr. Peter Wrighton-Smith, Chief
Executive Officer of Oxford Immunotec. 'This acquisition brings us three
additional early-stage pipeline opportunities, using complementary
immune-measuring technology, in the field of rheumatology. Each opportunity has
the potential to address key unmet clinical needs and is well suited to our
growing commercial infrastructure. We will continue Boulder's development work
on these products alongside the independent development of additional tests
based on our T-SPOT(r) technology platform.'
About Oxford Immunotec
Oxford Immunotec Global PLC is a global, commercial-stage diagnostics company
committed to improving patient care by providing advanced, innovative tests in
the field of immunology. The proprietary T-SPOT technology platform measures
the responses of specific immune cells, known as T cells, to inform the
diagnosis, prognosis and monitoring of patients with immunologically controlled
diseases. T cells are a central component of the human body's immune system,
and are implicated in the control and progression of many medical conditions,
including certain types of infectious diseases, cancers and autoimmune
diseases. The Company's initial product developed using the T-SPOT technology
platform is the T-SPOT(r).TB test, which is used to test for latent tuberculosis
infection. The T-SPOT.TB test has been approved for sale in over 50 countries,
including the United States, where it has received pre-market approval from the
Food and Drug Administration, Europe, where it has obtained a CE mark, as well
as Japan and China. The Company is headquartered near Oxford, UK and in
Marlborough, MA. Additional information can be found at
www.oxfordimmunotec.com.
T-SPOT and the Oxford Immunotec logo are trademarks of Oxford Immunotec Ltd.
About Boulder Diagnostics
Boulder Diagnostics is a private diagnostics company based in Boulder, CO, that
is developing immunology-based assays for rheumatology and infectious diseases.
The primary focus of Boulder Diagnostics is on three products: Spirofind(r) - an
assay to assist in the diagnosis of Lyme disease in both early and
late-presenting forms, Goutifind(TM) - an assay to assist in the diagnosis of
Gout, obviating diagnosis by joint puncture, and Stratokine(TM) - an assay to
help select biologics for autoimmune disease based on monitoring and prognosis
of drug response.
Forward-Looking Statements
This release contains forward-looking statements, including statements
regarding future success of the company. These forward-looking statements are
subject to risks and uncertainties that could cause actual results to differ
materially. Forward-looking statements are based on current expectations and
assumptions and currently available data and are neither predictions nor
guarantees of future events or performance. Factors that could cause actual
events or results to differ materially from those described in this press
release include, among others: uncertainties as to the cost, timing and results
of development activities involving diagnostic products; the ability to obtain
approval for future products and market acceptance for approved products;
general economic and business conditions; and other risks detailed in Oxford
Immunotec's prior press releases and public periodic filings with the SEC. You
should not place undue reliance on forward-looking statements, which speak only
as of the date of this presentation. We do not undertake to update or revise
any forward-looking statements after they are made, whether as a result of new
information, future events, or otherwise, except as required by applicable law.
CONTACTS:
For Media Inquiries:
Caroline Crawley
Oxford Immunotec
Tel: +44 1235 442796
ccrawley@oxfordimmunotec.com
For Investor Inquiries:
Rick Altieri Mark Klausner
Chief Financial Officer, Westwicke Partners
Oxford Immunotec Tel: +1 (443) 213-0500
Tel: +1 (508) 573-9953 oxfordimmunotec@westwicke.com
raltieri@oxfordimmunotec.com
News Source: NASDAQ OMX
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Language: English
Company: Oxford Immunotec
United Kingdom
ISIN: GB00BGFBB958
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280871 05.08.2014