Bethlehem, Pa.-based OraSure Technologies, a point-of-need and home diagnostics leader, announced recently it had acquired Sherlock Biosciences, Inc. a next-generation diagnostics company.
OraSure said the acquisition would expand its business by adding Sherlock’s molecular diagnostics platform, which is able to provide rapid results with strong sensitivity and specificity in a disposable format, well-suited for over-the-counter use. OraSure made the announcement on Dec. 19, during a conference call to investors.
“The acquisition of Sherlock represents the next step in OTI’s innovation strategy,” Carrie Eglinton Manner, President and CEO of OraSure. “Sherlock brings valuable capabilities with an advanced molecular platform that aims to deliver lab-like accuracy in a format that expands access to diagnostic insights through convenient, effortless tests. We are excited to welcome Sherlock’s talented team to OTI and believe that Sherlock’s unique capabilities will contribute significantly to the expansion of our pipeline of diagnostic tests in infectious disease, sexual health, and beyond.”
Sherlock’s first molecular self-test is for Chlamydia Trachomatis and Neisseria Gonorrhoeae, which OraSure said would expand its portfolio of rapid diagnostics for sexually transmitted infections. The test is in clinical studies and is expected to be submitted to the U.S. Food and Drug Administration by the end of 2025 for review. Officials with OraSure estimate CT/NG testing is a more than $1.5 billion market and that the products has potential to drive market expansion.
Additionally, Sherlock has been developing a pipeline of other molecular tests, along with several next-generation technology platforms, include Ambient Temperature Amplification and CRISPR-based technologies that officials said could further reduce costs and improve performance of its platforms.