Opko Health, Inc. Acquires Claros Diagnostics for $30 Million
Published: Oct 18, 2011
Claros Diagnostics Inc., a Woburn maker of in-vitro medical diagnostic tests, has been acquired by Miami biopharmaceutical and diagnostics company OPKO Health Inc. The buyout amounts to at least a $30 million payment of combined cash and stocks, with the potential for another $19 million paid to Claros, based on milestone achievements, OPKO reported in a regulatory filing. Claros develops a diagnostics system that consists of a disposable cartridge and analyzer. The cartridge uses a single drop of fluid - such as finger stick drop of blood - on a cartridge the size of a credit card to analyze blood, serum, urine, or other bodily fluids. The analyzer is designed to return diagnostic results within 15 minutes based on a 'lab-on-a-chip' design. Combined, the cartridge and analyzer system has been tested for use in urology and infectious diseases, and has potential as a test for cardiology, women's health and companion diagnostics, Claros noted on its website.