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Venaxis acquires US firm BiOptix Diagnostics

Invitro diagnostic company Venaxis has acquired US-based BiOptix Diagnostics for an undisclosed sum.

As of 12 September, Venaxis purchased about 98% of the voting shares of BiOptix for around 14% of its post-deal outstanding common shares.

Based in Boulder of Colorado, BiOptix developed Enhanced Surface Plasmon Resonance (E-SPR) technology to detect molecular interactions.

The technology has been developed in collaboration with JILA (University of Colorado) adjoint professor Dr. John ‘Jan’ Hall.

The ultra-sensitive detection surface plasma resonance platform aggregates high sensitivity with microarray detection capability.

It enables pharma and biotech researchers to understand earlier in the discovery process whether their target molecules have functionality against the disease targeted.

BiOptix collaborates with academic research institutions, biotechnology, pharmaceutical, and contract research organizations to help them in the drug development process.

SPR optical technology can measure refractive index changes on a sensor chip’s gold surface due to a change in mass, which occurs during a binding event.

BiOptix offers advanced technology for drug discovery scientists, which require label-free real-time detection of biomolecular interactions.

The firm’s instrumentation provide precise measurement of kinetics, affinity constants and concentration, easy-to-use analytical software and two operating modes for higher throughput and experimental flexibility.

Venaxis CEO Steve Lundy said: “We are pleased to announce this acquisition and are excited by the opportunity we believe it represents for shareholders of Venaxis.

“The newly combined company will benefit from BiOptix technology and market opportunity, combined with Venaxis resources and public listing. The company is expected to initially focus on product improvement initiates and expanding commercialization of BiOptix’s 404pi E-SPR product.”