OraSure announced that it has entered into definitive agreements to acquire two companies. CoreBiome is a privately-held, early-stage microbiome services provider that accelerates discovery for customers in the pharmaceutical, agricultural and research communities. CoreBiome’s proprietary genomics pipeline and algorithms deliver speed and scalability in the lab as well as precise analytics. Novosanis is a privately-held, Belgian company founded as a spinoff company from the University of Antwerp, Belgium, in 2013. Novosanis is an early commercial-stage producer and distributor of urine sample collection devices targeted primarily at the liquid biopsy, sexually transmitted infection screening and urological cancer markets. Novosanis’ primary product technology is Colli-Pee, a device designed for the standardized collection of first-void urine in the privacy of the user’s home or at a clinic. The transactions are structured with an upfront payment and potential additional payments based on future performance. The company expects that the acquisitions will together contribute from $4M-$7M in net revenues in 2019, with 3c-5c per share of dilution to non-GAAP earnings excluding transaction costs and required acquisition accounting adjustments.
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