Primer Design acquired by Novacyt for £12m

May 12th 2016, 22:24

In 2005, Dr Rob Powell and Dr Jim Wicks, two experts in PCR and diagnostics at the School of Medicine, Southampton University, had the idea of starting up a diagnostics company, Primer Design. The University declined to invest, so Prof. Tom Brown came on board as the only investor (investing £50k), as well as providing guidance and expertise in nucleic acid chemistry. Over the next ten years, Rob and Jim built the company up, developing the innovative and hugely successful genesig® platform, with qPCR kits for swine flu, Ebola and Zika virus; and establishing a worldwide reputation (with customers in over 100 countries).

Today, Novacyt, an international specialist in cancer and infectious disease diagnostics, has announced the acquisition of Primer Design, for a purchase price of £12m subject to the achievement of sales targets over the next three years.

http://finance.yahoo.com/news/novacyt-full-2015-results-120000241.html

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