UNITED KINGDOM - Bracco Imaging expands its portfolio in personalised diagnostics with the acquisition of Blue Earth Diagnostics
Bracco Imaging S.p.A., global leader in diagnostic imaging systems, signed a final agreement for the purchase of Blue Earth Diagnostics, an Oxford-based molecular imaging company specialised in the development and marketing of new PET imaging agents. The transaction is expected to be finalised by the third four-month period of this year.
Bracco Imaging is purchasing Blue Earth Diagnostics for 450 million dollars from Syncona, a leader in the health sector, and from the management team of Blue Earth Diagnostics. The company employs approximately 100 people and it forecasts revenues for 140 million dollars this year up to September 2019, mainly in the United States.
Blue Earth Diagnostics currently markets Axumin® (fluciclovine 18F), an innovative molecular imaging agent approved in the United States and in the European Union, used in the PET scans of patients with a suspected prostate cancer recurrence showing high prostate specific antigen (PSA) blood levels. Fluciclovina 18F can also be used in a wide range of other oncological imaging applications such as in neuro-oncology, a field that Blue Earth Diagnostics is currently investigating.