bioMérieux Gains Critical Oncology and Theranostics Capabilities with the Acquisition of Molecular Diagnostics Company AviaraDx

Marcy l'Etoile, France - September 11, 2008. bioMérieux, a world leader in the field of in vitro diagnostics has acquired the privately held AviaraDx, Inc., a molecular in vitro diagnostics company, based in San Diego, California (USA). AviaraDx’s diagnostic tests, based on their proprietary technologies, are used in the molecular classification of cancers and to assist oncologists in making critical therapeutic decisions. The company has built a molecular R&D lab and a small sales & marketing team, as well as a high complexity Clinical Laboratory Improvement Amendments (CLIA) certified service lab.
 

bioMerieux’s strategy focuses on infectious diseases and high medical-value diagnostic tests, and for the latter, theranostics and oncology are critical elements. With AviaraDx, bioMérieux gains validated cancer biomarkers as well as capabilities in gene expression profiling in tissues for applications in oncology.

AviaraDx has two innovative products on the market based on proprietary technologies: Aviara CancerTYPE ID® provides improved cancer classification, especially for patients diagnosed with metastatic cancer where the origin is uncertain or unknown. Aviara Breast Cancer IndexSM offers a combined assessment of two Aviara markers (H/I and MGI) for risk prognosis and treatment response prediction for chemo and hormonal therapy. AviaraDx‘s high complexity CLIA certified service lab makes these diagnostic tests widely available to physicians in the U.S.

bioMérieux is thus in a position to offer a wide range of high-value tools for cancer management, which help oncologists make relevant clinical decisions in their daily practice: the widely installed VIDAS® immunoassay platform and molecular diagnostics with the NucliSENS® range and AviaraDx technologies.

“The acquisition of AviaraDx is a major milestone in bioMérieux’s long-term growth strategy. Their molecular technology in tumor tissue and broad clinical capabilities will help us achieve Dr. Christophe Mérieux’s vision of providing patients with personalized, predictive medicine,” stated Stéphane Bancel, Chief Executive Officer of bioMérieux. “We are also very excited to welcome the talented AviaraDx team to bioMérieux,” he added.

bioMérieux acquired full ownership of AviaraDx for $60 million. The company plans to keep AviaraDx as an independent legal entity called bioTheranostics, Inc. Richard Ding, bioMérieux’s Corporate Vice President of Business Development and Theranostics, has been named Chief Executive Officer of bioTheranostics. He will also continue to serve as a member of the bioMérieux Management Committee and to lead bioMérieux’s business development and theranostics activities.

Essentially focused on R&D, AviaraDx has 19 employees. It has limited sales today and is projected to lose approximately $8 million in 2008. Since bioTheranostics should have limited sales until 2012 and break even around that year, bioMérieux confirms its 2012 strategic plan sales growth and EBIT objectives:

• sales growth: 7-9% on average per year at constant exchange rates,
• 2012 EBIT margin between 16 and 17% of sales, at 2007 exchange rates.