Magellan Biosciences Sells TekCel to Hamilton Company; Focuses on Expanding Presence in Clinical-Diagnostics Market

CHELMSFORD, Mass., Feb. 5 — Magellan Biosciences, an emerging leader in clinical-diagnostic markets worldwide, announced that it has sold TekCel, its in-lab sample management and storage business, to Hamilton Company. A privately held company based in Reno, Nevada, Hamilton is the worldwide leader in the design and manufacture of manual, semi-automated, and robotic products for precision fluid measuring. Hamilton is expected to maintain TekCel’s headquarters in Hopkinton, Massachusetts, and plans to invest significant resources to grow Hamilton’s East Coast presence. Financial terms were not disclosed. According to Magellan President and Chief Executive Officer, Dr. Robert J. Rosenthal, the TekCel business has significant synergies with Hamilton. “Our strategy at Magellan is to expand our presence in clinical diagnostics, specifically in hospital-based labs and the point-of-care setting. While TekCel has made significant progress designing new offerings that are also relevant to the needs of clinical customers, its primary customer base and its focus in the foreseeable future will likely remain pharmaceutical, biotech, and life-science research customers, where Hamilton brings significant global distribution and customer access. TekCel’s unique products and strong pipeline will benefit from the infusion of additional resources and attention; I’m confident that it will continue to grow and thrive under the Hamilton umbrella.” Dr. Rosenthal continued, “As reflected by the recent acquisition of TREK Diagnostics and today’s announced divestiture of TekCel, we are making significant progress in achieving our corporate goals. Our products for biomedical- and clinical-research customers grew at a compelling double-digit rate last year. And within our clinical diagnostics business, we are fortifying our position and intend to capitalize on a very clear trend — an increasing share of diagnostic testing that is occurring closer to the patient, in hospitals and at the point-of-care. Within the clinical segment, we are commercializing our point-of-care platform and related consumables, which recently received CLIA-waiver for blood-lead testing. We are also commercializing diagnostic platforms and consumables for applications such as bacterial pathogen identification, antibiotic susceptibility testing, and a variety of clinical immunoassays, all of which are important to improving patient care. We plan to continue our expansion in the clinical markets through a combination of new product development and acquisitions.”

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