GenePOC, a Subsidiary of Debiopharm Group, Reaches an Agreement With Meridian Bioscience for the Acquisition of Their Molecular Diagnostics Business

LAUSANNE, Switzerland, April 30, 2019 /PRNewswire/ -- Debiopharm (www.debiopharm.com), announced today having reached an agreement with Meridian Bioscience, Inc. for Meridian to acquire GenePOC's (Canadian affiliate of Debiopharm) molecular diagnostics business portfolio. This decision was made in response to the need to identify a partner with a solid commercialization capacity, in order to quickly offer the benefit of GenePOC's rapid, high-quality diagnostics testing to patients, supporting diagnosis and guidance towards targeted therapeutic decisions for infectious diseases.

Debiopharm became the major shareholder of GenePOC in July 2016. Over years of collaboration, ongoing clinical development led to a number of achievements including FDA approval and European CE marking of the revogene^® device and 3 rapid molecular assays for Group A and B Streptococcus along with the Clostridium difficile test. Recently, the Carba assay also received CE marking certification. With these approved assays and a robust pipeline GenePOC has become a key player in the development of rapid diagnostic tools.

Meridian Bioscience has a long, proven history in both the laboratory diagnostics and life sciences markets. Meridian develops, manufactures, markets and distributes a broad range of innovative diagnostic test kits, purified reagents and biopharmaceutical enabling technologies. With an extensive commercial infrastructure and experienced sales force in the U.S., Europe and other major markets, the company targets hospitals, specialized laboratories, research centers, diagnostic manufacturers and companies with its broad offering.

"When we integrated GenePOC into Debiopharm, the main objective was to quickly bring their instrument and diagnostic tests to market approval. As antibiotic resistance is a major public health issue, it has become urgent to offer patients rapid diagnostic tools to guide therapies targeting the precise pathogen. Meridian's extensive commercial infrastructure and their undisputed experience make it an ideal partner for GenePOC. After nearly 4 years of collaboration, it is difficult to part ways, but we are happy to have successfully achieved our objectives together. I am deeply grateful to the entire team for their ongoing commitment."
- Thierry Mauvernay, President of Debiopharm

"We are very excited to be adding the GenePOC technology and team to Meridian. GenePOC provides an exciting, new state-of-the-art molecular diagnostics platform to our Diagnostics portfolio.  This is a critical element of our strategy to re-position our Diagnostics business for sustainable long-term growth. GenePOC's revogene^TM platform is an excellent fit for our customers and strategy to offer gastrointestinal-focused and other targeted diagnostic solutions to meet the diverse needs of today's more complex health care system.  We welcome the GenePOC team to the Meridian family and look forward to continuing our very good relationship with Debiopharm into future." 
- Jack Kenny, Chief Executive Officer, Meridian Bioscience

About GenePOC

Founded in 2007 by Dr. Michel Bergeron, GenePOC is a company that specializes in the development of diagnostic devices which enable the prevention and detection of infectious diseases.  The company aims to become the market leader in the rapid microbial testing. GenePOC's revogene^TM, a compact, automated instrument using patented, single used cartridges based on microfluid technology, called PIEs, leveraging PCR techniques in real time. revogene^TM is available in the US, EU and Canadian markets. Further information: www.genepoc-diagnostics.com

About Meridian Bioscience, Inc.

Meridian is a fully integrated life science company that develops, manufactures, markets and distributes a broad range of innovative diagnostic products. We are dedicated to developing and delivering better solutions that give answers with speed, accuracy and simplicity that are redefining the possibilities of life from discovery to diagnosis. Through discovery and development, we provide critical life science raw materials used in immunological and molecular tests for human, animal, plant, and environmental applications. Through diagnosis, we provide diagnostic solutions in areas including gastrointestinal and upper respiratory infections and blood lead level testing.  We build relationships and provide solutions to hospitals, reference laboratories, research centers, veterinary testing centers, physician offices, diagnostics manufacturers, and biotech companies in more than 70 countries around the world.

Meridian's shares are traded on the NASDAQ Global Select Market, symbol VIVO. Meridian's website address is www.meridianbioscience.com.

About Debiopharm

Founded in 1979, Debiopharm is an independent biopharmaceutical company engaged in the development of a broad variety of targeted oncology therapies and antibiotics. With an ongoing commitment to improve patient quality of life, the company has become a reference of excellence in drug development, drug manufacturing and digital health. Selecting promising first or best-in-class candidates from academic centers and start-ups, they carry out rigorous, creative clinical development for therapies which are subsequently commercialized by large pharmaceutical partners to maximize patient reach.

Visit us www.debiopharm.com

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Outcome Capital served as the exclusive financial advisor for GenePOC on this transaction.

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https://www.debiopharm.com