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OraSure Inks $143M Multi-Year Deal to Supply Saliva DNA Collection Devices

NEW YORK (360Dx) – OraSure Technologies said Tuesday that its subsidiary DNAG Genotek has inked a $143 million agreement to supply Oragene Dx saliva-based DNA collection devices to a leading consumer genomics customer.

OraSure reported in a document filed with the US Securities and Exchange commission that the agreement provides for the supply of product over several years with minimum annual purchases by the customer.

In an e-mail, the company declined to provide additional details about the deal, including the customer's name.

OraSure noted that the FDA-cleared Oragene Dx allows for ambient temperature transportation and storage and provides a liquid sample to enable high throughput automation in a laboratory.

DNAG Genotek is a provider of sample collection kits and end-to-end services for human genomics, microbiome, and infectious disease applications.

In a research note Tuesday, Cannacord Genuity analyst Mark Massaro said that the multi-year deal is larger than the company's full-year 2016 revenue of $128.2 million, and is about eight times larger in aggregate than an $18 million hepatitis C supply agreement that the company did not renew a few weeks ago.