Fujeribio Diagnostics, Inc., based in Japan, has bought Swedish CanAg Diagnostics, merging two leading biotechnology companies in cancer diagnosis.
Fujeribio Diagnostics, Inc., based in
Japan, has bought Swedish CanAg Diagnostics, merging two leading
biotechnology companies in cancer diagnosis.
“The merger will integrate the number one and number two companies in tumour markers, but Fujeribio will deal with marketing and distribution,” said Jan Sundqvist, CEO of CanAG, “whereas CanAg will focus on research and development.” He did not disclose any more details.
Investors in CanAg Diagnostics now divesting its holding in the company include Karolinska Investment Fund, Swedish Industrial Development Fund, New Business Venture Fund, MP Bio and Founders.
CanAg has 20 years' experience in developing monoclonal antibodies, which are used to detect cancers and in laboratory testing kits. The technology improves diagnosis and treatment for patients with the most common tumour cancers, by showing whether more-invasive tests are needed, as well as monitoring cancer growth and reaction to treatment. With its head office in Gothenburg and subsidiaries in China and the US, the company “employs 33 employees and had a turnover of just under €6 million in 2005”, said Sundqvist.
Fujeribio Diagnostics, formerly Centocor Diagnostics, was acquired by Tokyo’s Fujeribio, Inc. in 1998. It also specialises in monoclonal antibodies for tumour markers, though with a worldwide distribution network. Fujeribio Diagnostics focuses on the clinical development, manufacturing and commercialisation of its products, and is currently developing new diagnostic tests to detect and monitor cancers of the bladder, lungs and ovaries.
“The merger will integrate the number one and number two companies in tumour markers, but Fujeribio will deal with marketing and distribution,” said Jan Sundqvist, CEO of CanAG, “whereas CanAg will focus on research and development.” He did not disclose any more details.
Investors in CanAg Diagnostics now divesting its holding in the company include Karolinska Investment Fund, Swedish Industrial Development Fund, New Business Venture Fund, MP Bio and Founders.
CanAg has 20 years' experience in developing monoclonal antibodies, which are used to detect cancers and in laboratory testing kits. The technology improves diagnosis and treatment for patients with the most common tumour cancers, by showing whether more-invasive tests are needed, as well as monitoring cancer growth and reaction to treatment. With its head office in Gothenburg and subsidiaries in China and the US, the company “employs 33 employees and had a turnover of just under €6 million in 2005”, said Sundqvist.
Fujeribio Diagnostics, formerly Centocor Diagnostics, was acquired by Tokyo’s Fujeribio, Inc. in 1998. It also specialises in monoclonal antibodies for tumour markers, though with a worldwide distribution network. Fujeribio Diagnostics focuses on the clinical development, manufacturing and commercialisation of its products, and is currently developing new diagnostic tests to detect and monitor cancers of the bladder, lungs and ovaries.
Receive the Funding Newswire each Tuesday, our Policy Bulletin each Thursday, and news about bridging Europe’s east-west innovation gap twice a month in The Widening. 
A unique international forum for public research organisations and companies to connect their external engagement with strategic interests around their R&D system.