Lab21 Acquires Molecular Diagnostics Company

Lab21 Ltd, a global specialist in personalised medicine and clinical diagnostics has acquired Myconostica Ltd, a molecular diagnostic company focussing on the diagnosis of fungal infections of clinical importance. The financial terms were not disclosed. The move provides Lab 21 with its first set of nucleic acid-based assays along with manufacturing capabilities for developing and producing its range of new biomarker assays. In addition to developing global sales, Lab21 will also be launching the Myconostica fungal testing services from its new reference laboratory in South Carolina as well as its laboratory in Cambridge, UK.

Graham Mullis, CEO of Lab21, commented: “We are delighted that we have acquired Myconostica. The company’s products complement our infectious diseases portfolio and help position the Company in a large market where there are significant clinical challenges.” This is the sixth acquisition for the company over the last two years.

Professor David Denning of the University Hospital of South Manchester, founder and Chief Medical Officer of Myconostica said: ”We have developed fast and sensitive molecular diagnostics for life threatening fungal infections such as aspergillosis and pneumocystis pneumonia, that will transform patient care for these infections. Fungal infections are frequently under-diagnosed using current diagnostic methods and are much more common than
realised. The global reach of Lab21’s operations will extend the availability of Myconostica’s products to many more clinicians. I look forward to working with Lab21 to further develop the evidence base demonstrating the great clinical value of molecular testing for fungi, as is routine for viruses.”