Burlington-based diagnostics and testing giant LabCorp has announced plans to acquire Monogram Biosciences of South San Francisco for some $155 million.
Monogram's molecular diagnostics include HIV tests used routinely by physicians for managing patient therapy and are an integral component of anti-HIV drug development and clinical evaluations for the pharmaceutical industry.
"The transaction announced today is a significant step in the execution of LabCorp's strategy of leadership in personalized medicine," said David King, LabCorp's chairman and CEO.
"Monogram ... has an excellent clinical reputation, a market leading infectious disease test, a market-leading companion diagnostic, an exciting technology platform for oncology and offers LabCorp a substantial growth opportunity. By utilizing LabCorp's national infrastructure to build on Monogram's already strong sales, we will advance our leadership in infectious disease and cancer testing, companion diagnostics and personalized medicine. We look forward to providing improved offerings to both our and Monogram's current customers."