Bio-Rad Laboratories, Inc. and Curiosity Diagnostics sp. z o.o.
09.08.2022
Wardyński & Partners assisted Bio-Rad Laboratories, Inc. (NYSE) in its acquisition of 100% of the shares in Curiosity Diagnostics sp. z o.o. from Scope Fluidics SA for a total consideration of up to USD 170 million, consisting of an upfront payment and future milestone payments. This is one of the first transactions of its kind on the Polish market involving the biotech industry.
We acted as sole legal adviser to Bio-Rad Laboratories, providing assistance in all legal aspects of the transaction, including legal due diligence as well as negotiation and drafting of comprehensive transaction documentation. The firm’s work on the deal was led by partner Katarzyna Wójcik-Bąkowska. Key members of the team were Adam Pawlisz (counsel) and Krzysztof Drzymała (associate) from the M&A practice and Monika A. Górska (partner), who was in charge of IP aspects of the transaction. The other lawyers involved in the transaction were Katarzyna Jaroszyńska and Oliwia Kruczyńska, who coordinated the due diligence process.
Bio-Rad is a global leader in developing, manufacturing, and marketing a broad range of innovative products for the life science research and clinical diagnostic markets. Based in Hercules, California, Bio-Rad has a global network of operations with some 7,900 employees worldwide and USD 2.9 billion in revenues in 2021.
Curiosity Diagnostics, a late-stage, pre-commercial platform company, is in the process of developing a sample-to-answer, rapid diagnostics PCR system for the molecular diagnostics market. The PCR|ONE system offers an exceptionally easy procedure to perform a genetic test in disposable cartridges, in a fully automated procedure, in an exceptionally short time of 20 minutes.
Congratulations to both parties and everyone involved in this exciting project, which has already garnered a lot of media coverage.