Hologic to acquire Mobidiag, a company with backing from the University of Helsinki

The University of Helsinki’s long-term investment in research-based startups has proven to be a success.

On Thursday, 8 April 2021, Mobidiag Oy announced that it has signed a definitive agreement on the acquisition of its entire equity by Hologic, Inc. (Nasdaq: HOLX).

Established in 2000, Mobidiag is a biotechnology company specialised in molecular diagnostics, which refers to the utilisation of DNA-based techniques to diagnose a range of diseases, including diarrhoea and different viruses, such as Covid-19 infections.

The acquisition is valued at approximately €668 million. Through its funds, the University of Helsinki owns 8% of fully diluted shares of the company’s equity. The acquisition is expected to be completed between July and September 2021.

“Our heartfelt congratulations to the Mobidiag team! The company will now have excellent resources and the opportunity to grow, as well as the chance to offer its innovations to serve humanity as a whole,” says Chief Financial Officer Marjo Berglund of the University of Helsinki.

Research results for the benefit of society

Mobidiag is a prime example of the University’s long-term investment in research-based startups, as its first investment in the company was already made in 2006.

“The University of Helsinki's investment in Mobidiag has been a significant endorsement for us, especially in the early years of the company,” says Mobidiag CEO Tuomas Tenkanen. 

With its mission to produce research results for the benefit of society, the University of Helsinki wishes to actively support research-based innovation, entrepreneurship and startups.

“Achieving financial success in the process is a boon,” Berglund adds.

Proceeds from investments are used by the University, according to its principles for investment activities, to promote its core duties of teaching and research with a long-term perspective.

In addition to investment, the University of Helsinki supports and assists researchers in commercialising their innovations originating in research. For example, a company called Nanoform was listed on Nasdaq Helsinki in 2020.

Link to a release by Mobidiag

Link to a release by Hologic, Inc.

Further information:

Marjo Berglund, chief financial officer, University of Helsinki
marjo.berglund@helsinki.fi, phone: +358 2941 22213
Background information on Mobidiag

Established in 2000, Mobidiag Oy is a biotechnology company specialised in molecular diagnostics, which refers to the utilisation of DNA-based techniques to diagnose a range of diseases.

In 2013, Genewave SAS, a French developer of an automated diagnostics platform, Amplidiag Oy, a Finnish company holding patents associated with gastrointestinal diagnostics, and Mobidiag Oy merged.

Mobidiag’s strength is the multidisciplinary nature of the resulting combination, which brings together solid expertise in the development and production of diagnostics equipment, software, reagents and diagnostic tests.

In 2017 the company released to the market both of its product platforms: Amplidiag, a product family targeted at large laboratories and central hospitals, and Novodiag, a solution for small and mid-sized laboratories.

The primary business model of Mobidiag is to provide, in addition to the Amplidiag and Novodiag platforms, disposable test cartridges and reagents for both of the platforms.

Due to the Covid-19 pandemic, the company has succeeded in providing a significant quantity of both Amplidiag and Novodiag products as well as related tests.