Seneca advise on acquisition of MC Diagnostics by international firm ACT Genomics

Seneca advise on acquisition of MC Diagnostics by international firm ACT Genomics

Seneca Corporate Finance has advised on an international firm entering the European precision medicine market with the acquisition of a North Wales-headquartered specialist molecular diagnostic company.

Founded in 2006, MC Diagnostics (MCD) specialises in the design and development of molecular diagnostics across the fields of immunogenetics, immunology, blood banking and microbiology.

MCD has been acquired by ACT Genomics, with the companies having partnered to develop fusion genechips on MCD’s ALDAS platform, from which tests can now be performed at the point of care.

Peter Maguire, chief executive of MC Diagnostics said: “Scientists at MCD are experts in transplant diagnostics, PCR-based diagnostic tests, microarray fabrication, robotics and automation, as well as software engineering.

“We are heavily focused on field application and have successfully optimized our manufacturing, assay and automation processes.

“I am excited to ally with ACT Genomics to bring our knowledge and experience to Asia.”

Hua Chien Chen, chief executive of ACT Genomics added: “With a vision to transform genomic information into action for the benefit of cancer patients, we at ACT Genomics are dedicated to develop innovative and effective products that can cover a broader spectrum of patient needs.

“Working hand-in-hand with MCD has brought us to the frontier of genechip technology and we are excited to have already accomplished a promising breakthrough.

“We look forward to continue our close relationship with the experts at MCD to perfect the ALDAS system and develop additional practical products that exploit this cutting-edge platform for the well-being of cancer patients and also the general public at large.”

Peter Maguire, said of Seneca CF: “The Seneca team did a fantastic job in supporting us through the sale of the business and we were impressed by their expertise in helping us prepare for the process. In addition, the team’s dedication to getting the deal done and willingness to assist in every area of the transaction ensured we could balance the intensity of the process with continuing to run the day-to-day operations. I would thoroughly recommend Seneca Corporate Finance to anyone considering a similar process for their own business.”

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