10 December 2021 | News
To complement global network of clinical diagnostics laboratories
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Eurofins Scientific has announced a share purchase agreement with Japan-based Transgenic Inc. to acquire Genetic Lab (G Lab), a molecular biology based testing provider for diagnostics, biomarker development and drug discovery. The acquisition will further enhance Eurofins’ expansion in Asia and complement its global network of clinical diagnostics laboratories focused on specialised and advanced genetic testing.
G Lab employs over 70 staff and generated revenues of over EUR 13 million in the financial year ending March 2021. Initially established as a genetics technology based bio venture in 2000, G Lab has developed a reputation among clinical communities in Japan for the CAP accredited quality services provided by its technical experts, in-house medical pathologists and cytotechnologists. G Lab also provides diversified testing services supporting biomarker development for companion drugs.
Through this acquisition, the Eurofins network will further strengthen its position in the Japanese market, where it is currently the market leader in environment testing and non-invasive prenatal testing, by extending its service offering in BioPharma services and clinical testing in Japan, notably increasing its COVID-19 testing product and service offering to support the fight against the pandemic.