ADAP - Roche to strengthen diagnostics portfolio with acquisition of TIB Molbiol

To further consolidate its position in molecular diagnostics, Roche Holding (OTCQX:RHHBY) (OTCQX:RHHBF) has agreed to acquire German-based biotech company TIB Molbiol Group. On Thursday, Roche announced a definitive share purchase agreement to acquire 100% of outstanding shares of TIB Molbiol Group. The deal that follows more than 20 years of collaboration between the two firms is set to close in Q4 2021, subject to customary closing conditions. “With this acquisition, we can expand our offering of tests of existing pathogens and our response to emerging pathogens and potential health threats,” remarked Thomas Schinecker, CEO of Roche Diagnostics. The partnership between the two companies led to the introduction of the first research-use-only SARS-CoV-2 detection test at the start of the pandemic in January 2020, Schinecker added. Read: Early this week, Adaptimmune Therapeutics (NASDAQ:ADAP) announced a partnership with the Genentech unit of Roche (OTCQX:RHHBY), targeting allogeneic cell therapies for cancer.

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Roche to strengthen diagnostics portfolio with acquisition of TIB Molbiol