Castle Rock, CO 9/14/16—Publicly held IVD company Venaxis has acquired BiOptix for 14% of Vanaxis’s post-deal outstanding stock.  BiOptix’s Enhanced SPR technology provides label-free detection of biomolecular interactions for drug discovery. “The newly combined company will benefit from BiOptix technology and market opportunity, combined with Venaxis resources and public listing. The company is expected to initially focus on product improvement initiates and expanding commercialization of BiOptix’s 404pi E-SPR product,” commented Vanaxis CEO Steve Lundy.

Venaxis stated on a conference call discussing the transaction that the acquisition gives it a developed technology, a commercialized product serving a growing market and the ability to make the company cash flow positive. Initial sales of 404pi were made this year. The product is positioned as a lower cost SPR system, priced in the $200,000 range.