Boulder Diagnostics sells ‘assets’ for $7.9M

BOULDER – England-based Oxford Immunotec Global PLC (Nasdaq: OXFD) announced that it has acquired “substantially all of the assets” of Boulder Diagnostics Inc. for up to $7.9 million.

Company officials could not be reached, and it was unclear whether Boulder Diagnostics would continue to operate locally.

Boulder Diagnostics is developing immunology-based assays for rheumatology and infectious diseases. Oxford is a commercial-stage diagnostics company geared toward tests in the field of immunology.

The Oxford announcement stated that the company made an upfront cash payment of $1.8 million in the deal, which closed July 31. Oxford could also make up to $6.1 million in milestone payments contingent upon clinical, intellectual property and commercial launch milestones for the products under development.

Boulder Diagnostics’ focus is on three products. Spirofind is an assay to assist in diagnosis of Lyme disease. Goutifind assists in the diagnosis of gout. And Stratokine helps select biologics for autoimmune disease based on monitoring and prognosis of drug response.

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