Services firm Mesa buys out molecular diagnostics player for a cool $300M as genetics testing gains steam

The rise in genetic testing has spurred a revolution in drug development, and now a biopharma services firm is looking to jump on board in a big way.

Mesa Laboratories will acquire Agena Bioscience, a genetic diagnostics company based out of San Diego, for $300 million, the company announced Tuesday.

Agena is expected to reel in between $63 million and $67 million in revenue in Mesa’s first year of ownership. That number doesn’t include any possible Covid-19 revenue, which is expected to bring in another $3 million to $5 million in revenue.

The acquisition is expected to close in Mesa’s Q3, which ends Dec. 31.

Mesa focuses on quality control devices that offer sterilization and disinfection and biopharmaceutical development.

“We believe that ‘The Mesa Way’ approach to continuous improvement will help the Agena team to continue to rapidly scale both commercially and operationally,” CEO Gary Owens said in a press…
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