Lab21 Ltd has purchased the majority shareholding of Biotec Laboratories Ltd, a clinical diagnostic company with particular emphasis on infectious diseases. The sale included Biotec’s South African subsidiary, Biotec Laboratories SA; this joint venture with the Cape Biotech Trust has developed proprietary phage amplification technology that is being used to develop rapid diagnostic and susceptibility tests for both
active and Drug Resistant tuberculosis (TB).
Graham Mullis, CEO of Lab21 said: “Our goal is to grow Lab21 into a major international diagnostics business through both organic growth and acquisition – this transaction is an important step in that process. Our combined businesses, which have very complementary products, provide a great platform from which to build further our infectious disease and immunodiagnostic portfolio.”
Dr Berwyn Clarke, Chief Scientific Development Officer of Lab21 added: “We look forward to working with the R&D team of Biotec and exploring how its phage amplification technology can be used for the detection of other mycobacterium borne diseases, beyond TB.”
Peter Ellis, CEO of Biotec Laboratories Ltd said, “In order to be internationally competitive, the UK’s Diagnostics sector has long needed consolidation and we are delighted with the sale of our business to Lab21 to help create a global leader in diagnostics and are convinced that the Biotec team can play a significant role in Lab21’s future expansion plans and success.” For the immediate future, Biotec Laboratories will continue to trade as a subsidiary of Lab21 group.