Launch Diagnostics acquired by Palex Healthcare Group

Launch Diagnostics Holdings Limited, a leading distributor of in vitro diagnostics (IVD) in the United Kingdom, France, and Germany, has been sold for £12.9m to Duomed Belgium NV, a subsidiary of Palex Healthcare Group based in Spain.

This acquisition represents an important step in expanding Palex’s presence in key European markets and reinforces its mission to provide healthcare professionals with innovative and high-quality diagnostic solutions. The disposal will support Avacta’s objective of becoming a pure-play biotechnology company, and the proceeds will be used to further Avacta’s preCISION platform.

Avacta was advised by Dow Schofield Watts Corporate Finance, with a collaborative team from London and Yorkshire comprised of Paul Herriott, Mark Watts, Matt Spence, and Dave Graham, alongside legal adviser Walker Morris.

Shaun Chilton, non-executive chairman at Avacta Therapeutics, commented, “This disposal, which followed an extensive auction process, realizes cash to support our growing R&D investment program and also enables the management to focus on the development of our unique proprietary pre|CISION technology platform. This is a critical and necessary step forward in our corporate strategy to become a pure-play therapeutics company”.

Avacta Therapeutics is headquartered in London and has a site in Wetherby.