After the transaction, mtm will become part of Roche’s Tissue Diagnostics (Ventana Medical Systems) business unit.
Roche will pay mtm shareholders an upfront payment of $180m as well as up $85m upon reaching performance-related milestones.
mtm develops CINtec Plus Cytology and Histology kits to identify and diagnose pre cancerous cervical lesions.
The CINtec Plus Cytology kit is used to identify over-expression of p16 and Ki-67 proteins in cervical Pap test samples and is approved in Europe.
mtm’s CINtec Histology Kit is used to detect over-expression of p16 and is used in conjunction with traditional staining techniques to aid in the identification of high-grade cervical intraepithelial neoplasia (CIN) and cervical carcinoma in biopsy samples.
Roche Diagnostics COO Daniel O’Day said the combination of its cobas HPV with mtm’s p16 tests may redefine the standard of care for cervical cancer testing by improving detection, reducing unnecessary cervical biopsies, and improving the confirmation of cervical pre-cancer.
Roche plans to seek the US FDA pre-market approval (PMA) of both the kits based on planned clinical trials.
The transaction is subject to customary closing conditions and is expected to close soon.
