NEW YORK – Japanese chemical products firm Denka said today it has expanded its strategic partnership with Taipei, Taiwan-based PlexBio with a private equity investment of NTD$245 million ($24 million).
As a result, Denka now owns 33.4 percent of PlexBio's shares. PlexBio will use the financing for operations and product development. Both firms' goals are to advance their positions in the molecular diagnostics space, drive growth, and allow Denka to expand into new markets, they said.
In early 2018, the companies said they would expand their collaboration to include the codevelopment of a molecular diagnostic platform for infectious disease testing, with an initial focus on tests for sepsis and multidrug resistance.
PlexBio offers the IntelliPlex platform and Precision Image Code (πCode) MicroDiscs for the development of high-complexity assays. The technology enables "virtually any probe" to be conjugated to πCode Microdiscs, including DNA, RNA, antigens, antibodies, proteins, and chemical compounds, it said.
"By putting high complexity molecular information at the focus of disease management, we will help transform the delivery of care for patients," PlexBio Chairman and Chief Executive Dean Tsao said in a statement. "The structure of our agreement with Denka allows us to maintain the strong research and commercial focus at PlexBio and ensures that our business strategy, established partnerships and objectives remain unchanged."
Last month, A. Menarini Diagnostics signed a deal to exclusively distribute PlexBio's IntelliPlex system in western Europe, the Middle East, and Australia.