Diagnostics pioneers Abacus Diagnostica, Kaivogen and Labrox are now together Uniogen
Three Turku-based life science experts – Abacus Diagnostica, a frontrunner in molecular testing and rapid PCR test systems, Kaivogen, a specialist in immunoassays and antibody tests, and Labrox, an innovator of high technology laboratory instruments and diagnostic readers – announced in September 2021 that they are joining forces to form a global diagnostics pioneer. The share swap agreement between the companies has entered into force and the transaction has now been completed. The name of the new company is Uniogen Oy. The company is targeting the global market with a total solution under development for point-of-care testing for infectious diseases and cancers, among others.
Although Uniogen is new as a company, the underlying companies, Abacus Diagnostica, Kaivogen and Labrox, have years of experience in international clinical diagnostics and life science markets. In 2021, the combined annual net sales of the three companies forming Uniogen was approximately EUR 15 million. The company is profitable and cash flow positive. Uniogen’s products are sold in about 100 countries around the world. Around 80% of sales comes from international markets outside of Finland. The company is headquartered in Turku, Finland and employs close to 100 professionals.
for life sciences.
Ilari Antila (55), MSc (Tech), has been appointed CEO of Uniogen Oy as of 17 January 2022. Antila has extensive international management experience from the diagnostics, medical devices and healthcare industries. He joins Uniogen from Injeq Oy, where he worked as CEO. The members of the company’s Board of Directors are Tomi Numminen (Chairman), Timo Lövgren and Johan Kronberg. The composition of the Board of Directors will be completed during 2022.
The transaction was implemented through a share swap agreement, in which the owners of the three companies became shareholders in the new company. About 98% of the company shares are held by Finnish shareholders. A significant part of Uniogen is owned by employees and the founders of Abacus Diagnostica, Kaivogen and Labrox.
Enabling the right diagnosis at the first appointment
Uniogen is a globally operating pioneer in diagnostic solutions and point-of-care testing offering diagnostic tests, test systems and laboratory instruments. Uniogen’s mission is to quickly identify pathogens and prevent their spread through advanced diagnostics. The company provides healthcare and patients with faster, easier and more cost[1]effective disease identification with the ultimate goal of enabling the right diagnosis and treatment at first patient appointment.
Uniogen is developing a unique total solution for point-of-care testing of infectious diseases and cancers, among others, for the global market in the upcoming years. In this new solution, antibody and PCR tests as well as diagnostics of several diseases can be performed with one versatile and easy-to-use device – virtually in any healthcare setting and without special expertise. Samples are taken and analyzed near the patient in the first treatment unit without the need to send them to external laboratories for analysis. With one single device, it will be possible to identify more than ten bacteria or viruses from one single sample with PCR, and determine, for example, whether a patient’s symptoms are caused by a coronavirus, flu, or a common cold. Cancer or prolonged infection can be detected using immunoassay tests.
“It’s great to have the opportunity to lead a company that brings together a long line of highly experienced diagnostics professionals from three companies as well as world’s leading instrumentation and biochemical knowhow. Together, we will develop novel products and expand our customer base. The new point-of-care testing solution under development will open great growth opportunities for us in the global diagnostics markets. There is currently no other point-of-care testing system on the market that combines both antibody and PCR testing. The size of our target market is several billion euros globally. Our growth is supported by, among other things, the growing need for decentralized diagnostics as mobility of people and the spread of new epidemics increase, and populations are aging. As healthcare costs keep rising, improving healthcare outcomes, cost efficiencies and accessibility through decentralized testing has become even more critical. Rapid diagnostics is expected to have a major positive impact on health economics”, said Ilari Antila, CEO of Uniogen.
“We are excited to work together to serve our customers more comprehensively and to better meet their needs. Going forward, our customers will get our vast range of products and solutions for clinical diagnostics and life science research from one company. As one Uniogen, we are able to combine our expertise and resources and provide solutions that none of us could even dream of providing alone. The importance of diagnostics has been acknowledged especially due to the Covid-19 pandemic, and diagnostics will be essential also in the future”, commented Erno Sundberg and Leena Kokko, CEOs of Abacus Diagnostica and Kaivogen, and Ida Erling, Head of R&D of Labrox.