GENEVA (AP) — Swiss drug maker Roche plans to buy IQuum, Inc., a U.S. company that specializes in molecular diagnostics and sample testing, in a deal worth up to $450 million.
Roche said Monday that it will pay $275 million upfront for the privately held IQuum, based in Marlborough, Massachusetts. It said further payments of up to $175 million are dependent on “product-related milestones.”
Once the acquisition is complete, Roche plans to integrate IQuum into its Roche Molecular Diagnostics division.
