Svar Life Science (formerly Euro Diagnostica) and DIAsource ImmunoAssays Sign Milestone Agreement

MALMO, Sweden and LOUVAIN-LA-NEUVE, Belgium, July 30, 2018 /PRNewswire/ --

DIAsource ImmunoAssays to assume production and sales of RIA product portfolio and the Neolisa™ ELISA product. 

Svar Life Science signs strategic agreement to transfer the portfolio of radioimmunoassays (RIA) and the Chromogranin A Neolisa™ (ELISA) product to DIAsource ImmunoAssays, a BioVendor group company.

Svar Life Science AB (formerly Euro Diagnostica AB), a Swedish life science company that has been working across the clinical diagnostic value chain for over 30 years, and DIAsource ImmunoAssays, a leading diagnostics company delivering manual RIA and ELISA kits and open automation solutions to international markets, today announced a strategic agreement, under which Svar Life Science will transfer its portfolio of RIA products and the Neolisa™ CgA ELISA product to DIAsource, securing the continued production and sales of these products.

Svar Life Science will continue to invent, develop and apply the best analytical technologies, with a focus on helping deliver the answers needed in drug discovery and clinical diagnostics, and the impact this has on human lives.

This transaction strengthens DIAsource and BioVendor's position as one of the top RIA and larger ELISA manufacturers, committed to servicing customers worldwide that use manual assays and open automation to complement their portfolio on closed automated systems.

The portfolio to be transferred includes the complete line of radioimmunoassays for the quantification of a number of peptide hormones involved in critical physiological processes. These endocrinological parameters are mainly used as tumor markers and for diabetology and salt balance analysis. The portfolio transfer also includes the ELISA Chromogranin A Neolisa™ product which complements the RIA Chromogranin A product.

In order to support a smooth transition with minimal disruption for customers, the companies have agreed to a transition period. Starting 1^st of September 2018 DIAsource ImmunoAssays assumes sales of the RIA product portfolio. During the remainder of 2018 the RIA production will be transferred. Sales of the Neolisa™ CgA ELISA product will be assumed by DIAsource as of January 2019, with production transfer to follow during 2019.

Ron Long, CEO, Svar Life Science, said: "The agreement with DIAsource ImmunoAssays forms part of our strategy of focusing our product portfolio and core technologies to help deliver the answers needed in drug discovery and clinical diagnostics today. It also enables us to strengthen our support for life science customers providing high quality solutions, the best analytical technologies for drug development and clinical research and establishes practical platforms for routine diagnosis. DIAsource ImmunoAssays are committed to being a complete diagnostic provider and we're confident that this agreement enables them to increase their support for customers in the field of radioimmunoassays". 

Jef Vangenechten, CEO of DIAsource ImmunoAssays, said: "This acquisition is another step in our strategy to position DIAsource as a consolidator of manual specialty assays, after previous acquisitions of the Intertech RIA product line in 2012, Viro-Immun ELISA and IFA product lines in 2017, and more recently the RIA product line from X. DIAsource also acquired the RIA client businesses from distribution partners in France and Spain in 2015 and 2016. This is our fifth acquisition in the RIA space and shows once again that we are committed to the long term future servicing and supporting of our considerable RIA customer base worldwide. We experience that RIA remains important as the gold standard for assays that are not available on automated systems or for parameters that require a higher analytical accuracy, whereby manual assays offer benefits in terms of quality and flexibility versus price. Furthermore, we also believe we can further develop the growing Chromogranin franchise consisting of Eurodiagnostica's well-established RIA and ELISA products."
 

About Svar Life Science (formerly Euro Diagnostica) 

Svar Life Science is a Swedish life science company that invents, develops and applies the best analytical technologies for drug development and clinical research, and establishes practical platforms for routine diagnosis. You can be sure of our answers: we've been working right across the clinical diagnostic value chain for over 30 years. 

Svar is your partner for researching diagnostic strategies for personalized medicine and developing companion diagnostics based on assays customized for you. Once the assays are established, you can use us for dedicated testing in early discovery, preclinical and clinical phases. Our special competence areas are autoimmune disease, inflammatory disease and cancer, with a focus on IBS and RA.

Svar means 'answers' in Swedish. Svar Life Science - Delivering answers you can trust from discovery to diagnosis.

About DIAsource ImmunoAssays (part of the BioVendor Group) 

DIAsource ImmunoAssays http://www.diasource-diagnostics.com/ is a Belgian company, specialized since 30 years in the development, manufacturing, and sales and distribution of immunoassay tests and open instrumentation solutions for clinical diagnostics.

DIAsource is a leading provider of manual assays and open automation, based on a product catalog featuring over 190 ELISA and 140 RIA assays. It has direct sales representation in Belgium, France and Spain and strong sales in Middle East, Asia, and South America through a worldwide network of over 100 sales and distribution partners in over 70 countries.

Since September 2017 DIAsource is part of the Biovendor Group, https://www.biovendor.com/biovendor-group/ , an international diagnostics company with headquarters in Brno, Czech Republic.