PARIS, FRANCE: Eurofins Scientific, the global scientific leader in bioanalytical testing and a leader in clinical diagnostics testing, announced a share purchase agreement with Transgenic Inc. to acquire Genetic Lab Co., Ltd.
Genetic Lab Co. is 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.
Genetic Lab employs over 70 staff and generated revenues of over EUR 13m 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.
Genetic Lab (G Lab) also provides diversified testing services supporting biomarker development for companion drugs. Since Mar 2020, G Lab has played an important role in the COVID-19 response in Japan, by facilitating PCR testing, and supporting Hokkaido prefecture and Sapporo city with their COVID-19 testing programmes.
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.