OSLO, Norway & HERCULES, Calif.--(EON: Enhanced Online News)--Genetic Analysis (GA) and Bio-Rad Laboratories, Inc., a global provider of life science research and clinical diagnostic products, today announced that they have signed an agreement in which Genetic Analysis will receive an equity investment from Bio-Rad in exchange for commercialization rights, in certain territories, for Genetic Analysis’s GA-map™ technology to detect gut dysbiosis. Terms of the agreement were not disclosed.
“Management’s Discussion and Analysis of Financial Condition and Results of Operation”
The patented GA-map™ technology is used as an aide in the diagnosis and management of irritable bowel syndrome and inflammatory bowel disease.
Dysbiosis is a microbial imbalance or maladaptation on or inside the body and is most commonly reported as a condition in the digestive tract. It has been associated with illnesses, such as inflammatory bowel disease and other chronic diseases.
“We are delighted to be linking up with Bio-Rad, a major force for innovation in in vitro diagnostic testing,” said Ronny Hermansen, CEO of Genetic Analysis. “We believe that this collaboration will accelerate the penetration of the GA tests into routine healthcare as the importance of the microbiome in major diseases becomes increasingly recognised.”
“We welcome the opportunity to partner with Genetic Analysis,” said Norman Schwartz, Bio-Rad President and CEO. “With the GA-map technology, we can offer products to analyze the microbiome associated with gut dysbiosis, which affects the quality of life of many patients around the world and can result in serious health problems.”
About Genetic Analysis
Genetic Analysis has developed and launched the first gene-based routine test for the mapping and aide in diagnosis of diseases related to dysbiosis and imbalances in the bacteria in the digestive system. The company markets the GA-map™ technology to three market segments: commercial routine testing, pharma companies and the research market. Genetic Analysis was established in 2008 and is based on research done by Professor Knut Rudi at Norwegian University of Life Sciences, NMBU and Nofima Mat in Ås. www.genetic-analysis.com
Bio-Rad Laboratories, Inc. (NYSE: BIO and BIOb) develops, manufactures, and markets a broad range of innovative products and solutions for the life science research and clinical diagnostic markets. The company is renowned for its commitment to quality and customer service among university and research institutions, hospitals, public health and commercial laboratories, as well as the biotechnology, pharmaceutical, and food safety industries. Founded in 1952, Bio-Rad is based in Hercules, California, and serves more than 100,000 research and health care industry customers through its global network of operations. The company employs more than 8,000 people worldwide and had revenues exceeding $2 billion in 2015. For more information, please visit http://bio-rad.com.
This release may be deemed to contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements we make regarding plans to commercialize the GA-map™ technology and our development and launch of new products. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “plan”, “believe,” “expect,” “anticipate,” “may,” “will,” “intend,” “estimate,” “continue,” or similar expressions or the negative of those terms or expressions, although not all forward-looking statements contain these words. Such statements involve risks and uncertainties, which could cause actual results to vary materially from those expressed in or indicated by the forward-looking statements. These risks and uncertainties include our ability to develop and market new or improved products, our ability to compete effectively, international legal and regulatory risks, and product quality and liability issues. For further information regarding our risks and uncertainties, please refer to the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operation” in Bio-Rad’s public reports filed with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended December 31, 2015 and our Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2016. Bio-Rad cautions you not to place undue reliance on forward-looking statements, which reflect an analysis only and speak only as of the date hereof. We disclaim any obligation to update these forward-looking statements.