Thu, Jun. 23, 4:31 PM
- Oxford Immunotec Global plc (NASDAQ:OXFD) acquires Norwood, MA-based Imugen for $22.2M in cash. The transaction should close no later than July 1.
- Imugen is a clinical reference laboratory that specializes in testing for tick-borne diseases like Lyme Disease.
- The deal will add ~$5.5M to Oxford's top line in H2, raising its guidance for calendar 2016 to $79.5M - 82.5M. It expects to have $30M in cash at year end, enough to finance operations into H2 2018 based on its current operating plan.
- Management will host a conference call tomorrow morning at 8:00 am ET to discuss the acquisition.
Oxford Immunotec Global Plc is a medical diagnostics company. The company provides innovative tests in the field of immunology. It also provides T-SPOT technology to measure the responses of specific immune cells, known as T cells, to inform the diagnosis, prognosis and monitoring of patients... More
Industry: Diagnostic Substances
Country: United Kingdom