Invisible Sentinel–Mérieux: investment, 201902 acquisition $75m in cash by bioMérieux

	Period	2019-02-07
	Money taker	Invisible Sentinel Inc.
	Group	Mérieux (Group)
	Money source	bioMérieux S.A. (Euronext: BIM)
	Group	Mérieux (Group)
	Product	Gene-Up® PCR-based food pathogen detection system

bioMérieux S.A.. (2/7/19). "Press Release: bioMérieux Acquires Invisible Sentinel, a US-based Company Specialized in Food and Beverage Molecular Testing". Marcy l’Étoile.

bioMérieux, a global player in in vitro diagnostics and world leader in food microbiology testing, today announced the acquisition of Invisible Sentinel Inc. This company, based in Philadelphia (PA) develops, manufactures and markets innovative and user-friendly molecular diagnostic tools for the rapid, accurate and reliable detection of pathogens and spoilage organisms in food and beverage.

Invisible Sentinel has developed Veriflow®, an innovative DNA Signature Capturing Technology that combines very simple protocols and workflows with rapid results, accuracy and specificity. This molecular testing platform is very easy to use and does not require sophisticated lab infrastructure. It targets diversified customers segments in the food and beverage industry (beer, wine, poultry, juices, nutraceuticals, etc.). The patented Veriflow® technology, which integrates innovative approaches based on conventional scientific principles, already has a proven market uptake with more than 1 million tests sold since its launch in 2014.

This acquisition strengthens bioMérieux’s position in food pathogen testing and spoilage organism detection by expanding it to new customer segments such as breweries and wineries. bioMérieux will now offer innovative alternatives to deliver accurate results for rare pathogen testing and challenging food matrices. The acquisition also complements bioMérieux’s molecular food testing solution GENE-UP® nicely and offers the opportunity to adapt Invisible Sentinel assays on the GENE-UP® system, making them available to customers processing high daily volumes of samples.

“We are very enthusiastic about having the talented team at Invisible Sentinel join us, and welcome them to bioMérieux,” said Nicolas Cartier, Executive Vice President, Industrial Microbiology Unit at bioMérieux. “This acquisition illustrates bioMérieux’s commitment to bring innovative solutions to customers of all sizes to ensure food and beverage quality and contribute to protecting consumer’s health.”

Dr. Nicholas Siciliano, Chief Executive Officer and co-founder of Invisible Sentinel, added: “We are thrilled to join the bioMérieux family today. bioMérieux’s rich history of pioneering innovation in diagnostics makes them the ideal partner for us to accelerate our growth. Their global commercial network and leadership in the food microbiology market will allow our products to reach even more customers worldwide while also empowering us to provide additional technologies and resources to our U.S. client base. Ultimately, this partnership will greatly enhance our ability to develop new products, introduce our technologies to new markets, and to better serve our existing customers in the food and beverage industry.”

bioMérieux has acquired all shares of Invisible Sentinel Inc. for approximately $75 million in cash, subject to customary adjustments. The company has 40 employees (FTE) and generated sales of about $9 million in 2018 with very strong double-digit growth year on year.

ABOUT BIOMÉRIEUX

Pioneering Diagnostics A world leader in the field of in vitro diagnostics for more than 50 years, bioMérieux is present in more than 150 countries through 43 subsidiaries and a large network of distributors. In 2017, revenues reached €2,288 million, with over 90% of international sales.

bioMérieux provides diagnostic solutions (systems, reagents, software) which determine the source of disease and contamination to improve patient health and ensure consumer safety. Its products are mainly used for diagnosing infectious diseases. They are also used for detecting microorganisms in agri-food, pharmaceutical and cosmetic products.

bioMérieux is listed on the Euronext Paris stock market
Symbol: BIM - ISIN Code: FR0013280286
Reuters: BIOX.PA/Bloomberg: BIM.FP
Corporate website: www.biomerieux.com.
Investor website: www.biomerieux-finance.com.

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