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Roche buys mtm laboratories

Roche has completed the full acquisition of Germany-based mtm laboratories, a company specialising in products for cervical cancer diagnosis

Roche has completed the full acquisition of Germany-based mtm laboratories, a company specialising in products for cervical cancer diagnosis.

Roche will pay €130m upfront, with a further €60m available to mtm shareholders depending on performance-related milestones.

The transaction is expected to close in the coming weeks, with mtm to become part of Roche's tissue diagnostics unit, Ventana Medical Systems.

Commenting on the deal, Daniel O'Day, chief operating officer, Roche Diagnostics, said mtm's products are "highly complementary" to Roche's current 'cobas' diagnostic technologies for human papiloma virus (HPV) – a common cause of cervical cancer.

As part of the deal, Roche will acquire mtm's tools for diagnosis, including a test to measure levels of the p16 biomarker, with a significant increase associated with persistent HPV infection and the possibility of cancer development.

"The combination of cobas HPV and p16 tests may redefine the standard of care for cervical cancer testing by improving detection, reducing unnecessary cervical biopsies, and improving the confirmation of cervical pre-cancer," said O'Day.

19th July 2011

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