The deal is anticipated to increase diagnostics' share of PerkinElmer's business to about 38 percent of total revenues from the current 30 percent. 

The French firm said that the funds will go toward international development and the marketing of the company's autoimmunity, allergy, and theranostic products. 

The firms will develop a test to measure total IgE in human tears for diagnosing allergic conjunctivitis.

The companies will provide allergy diagnosis and testing services to clinicians, hospitals, and private laboratories in Southeast Asia.