We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies. Cookie Policy.

Features Partner Sites Information LinkXpress
Sign In
Advertise with Us
Technopath Clinical Diagnostics - An LGC Company

THE BINDING SITE

Engages in the research, development, manufacture, and distribution of immunodiagnostic assays, as wel as specialized... read more Featured Products: More products

Download Mobile App




Events

ATTENTION: Due to the COVID-19 PANDEMIC, many events are being rescheduled for a later date, converted into virtual venues, or altogether cancelled. Please check with the event organizer or website prior to planning for any forthcoming event.

UK's Binding Site to Be Acquired by Thermo Fisher for USD 2.6 Billion

By LabMedica International staff writers
Posted on 01 Nov 2022
Print article
Image: The Binding Site has entered into an agreement to combine with Thermo Fisher Scientific (Photo courtesy of The Binding Site Group)
Image: The Binding Site has entered into an agreement to combine with Thermo Fisher Scientific (Photo courtesy of The Binding Site Group)

Thermo Fisher Scientific Inc. (Waltham, MA; USA) has entered into a definitive agreement to acquire The Binding Site Group (Birmingham, UK) in an all-cash transaction valued at USD 2.6 billion. The transaction, which is expected to be completed in the first half of 2023, is subject to customary closing conditions, including regulatory approvals. Upon completion, The Binding Site will become part of Thermo Fisher's Specialty Diagnostics segment and is expected to be accretive to adjusted earnings per share by USD 0.07 for the first full year of ownership.

Serving clinicians and laboratory professionals worldwide, The Binding Site provides specialty diagnostic assays and instruments to improve the diagnosis and management of blood cancers and immune system disorders. The Binding Site was founded by a group of researchers from the Medical School at Birmingham University that was researching innovative ways of producing antibodies in the early 1970s. Today, the company continues to build upon its specialist protein heritage offering an expanding menu of over 200 protein assays across a range of clinical diagnostic systems. As demand grew for its expanding range of specialist protein assays, The Binding Site introduced clinical diagnostic systems into its product offering in late 2007. Together, the company’s specialist protein systems and assays provide laboratories with a complete specialist protein solution. The Binding Site’s flagship assay, Freelite, is the only serum free light chain assay recommended by national and international guidelines for the diagnosis, prognosis and monitoring of Multiple Myeloma and other B cell dyscrasias (cancers of the plasma cells).

The Binding Site has more than 1,100 employees globally and is an active and influential contributor to the broader scientific community. As an established leader in a fast-growing segment in which patient care has shifted towards early diagnosis and monitoring via regular testing, the company has an attractive financial profile. Its business has been growing approximately 10% annually and is on track to deliver more than USD 220 million of revenue in 2022. The strong clinical value of The Binding Site offering enables doctors across the globe to support millions of patients every year.

“This transaction perfectly aligns with our Mission and is an exciting addition to our existing specialty diagnostic offerings. With extensive expertise and a large and dedicated installed base in cancer diagnostics, The Binding Site will further enhance our specialty diagnostics portfolio,” said Marc N. Casper, chairman, president and chief executive officer of Thermo Fisher. “The Binding Site is extremely well-respected by researchers and clinicians alike for its pioneering diagnosis and monitoring solutions for multiple myeloma. We also know early diagnosis and well-informed treatment decisions for multiple myeloma can make a significant difference in patient outcomes. We are excited by the opportunity to enable further innovation in this area for the benefit of patients and look forward to welcoming The Binding Site team to Thermo Fisher.”

“This announcement marks the beginning of a new and exciting chapter for The Binding Site and is a testament to our team’s singular commitment to improving patient lives through the development and delivery of innovative solutions,” said Stefan Wolf, chief executive officer of The Binding Site. “The Binding Site has long been at the forefront of medical diagnostics and by joining the world leader in serving science, we will be even better positioned to accelerate scientific discovery and expand our product offering for the benefit of our colleagues, customers and, most importantly, the patients we serve.”

Related Links:
Thermo Fisher Scientific Inc.
The Binding Site Group 

Gold Supplier
Microplate Centrifuge & Reader
Lyra MP-Reader II
New
Silver Supplier
Whole Blood Quality Control
Meter Trax Control
New
POC Quantitative Immunoassay Platform
ProciseDx Instrument
New
Gold Supplier
Blood Glucose Reference Analyzer
Nova Primary

Print article
SUGENTECH INC.

Channels

Clinical Chem.

view channel
Image: Equivalence of Genetically Elevated LDL and Lipoprotein(a) on Myocardial Infarction (Photo courtesy of Viborg Regional Hospital)

Familial Hypercholesterolemia Patients With ACD Have Elevated Lipoprotein(a)

Familial hypercholesterolemia (FH) is a genetic disorder characterized by high cholesterol levels, specifically very high levels of low-density lipoprotein (LDL cholesterol), in the blood and early cardiovascular... Read more

Molecular Diagnostics

view channel
Image: A cheap blood test could improve diagnosis of myocarditis (Photo courtesy of Queen Mary University of London)

First-Ever Blood Test Could Detect Deadly Heart Inflammation Within Hours

Myocarditis, or inflammation of the heart muscle, is a difficult condition to diagnose. Symptoms include a temperature, fatigue, chest pain and shortness of breath, which can all be easily mistaken for... Read more

Microbiology

view channel
Image: Ring-form trophozoites of Plasmodium vivax in a thin blood smear (Photo courtesy of Centers for Disease Control and Prevention)

Immune Regulators Predict Severity of Plasmodium vivax Malaria

Cytokines and chemokines are immune response molecules that display diverse functions, such as inflammation and immune regulation. In Plasmodium vivax infections, the uncontrolled production of these molecules... Read more

Pathology

view channel
Image: Breast cancer spread uncovered by new molecular microscopy (Photo courtesy of Wellcome Sanger Institute)

New Molecular Microscopy Tool Uncovers Breast Cancer Spread

Breast cancer commonly starts when cells start to grow uncontrollably, often due to mutations in the cells. Overtime the tumor becomes a patchwork of cells, called cancer clones, each with different mutations.... Read more
Copyright © 2000-2022 Globetech Media. All rights reserved.