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MELBOURNE, Australia, Jan. 11, 2022 /PRNewswire/ -- Global analytical science and device company Trajan Group Holdings Limited (ASX: TRJ) (Trajan or the Company) has completed the acquisition of Neoteryx, LLC (Neoteryx), a global leader in blood microsampling devices based in Torrance, California, USA, on 30th December 2021.
Trajan has acquired 100% of the shares in Neoteryx along with the remaining global operations through a share swap and cash payment arrangement. The current parent company of Neoteryx, Farrona LLC, (Farrona) will be issued 4,659,843 ordinary fully paid shares in Trajan (New Shares). The New Shares are subject to a voluntary escrow agreement to be held by Farrona for a minimum period of six months (180 days).
An additional cash payment of $US 5.05 million, to be fully funded through debt, will be paid by Trajan to Farrona, excluding closing working capital adjustments. The majority shareholder in Farrona is Mr Fasha Mahjoor, Founder and CEO of Neoteryx.
Mr Stephen Tomisich, Founder and CEO of Trajan said, "This transaction will mark the moment that Trajan changed gear in driving the global commercialization and adoption of microsampling at scale. Remote sampling is an essential element in progressing personalized, preventative and data-based healthcare. We are building our device portfolio and the marriage with Neoteryx brings together the hemaPEN®[1] format, Mitra®[2], VAMS®[2] and soon our micro-biopsy device for skin sampling.
Importantly we are also building the tools around the entire workflow, from consumer portals to laboratory automation, through to the laboratory function itself. While not immediately EBITDA accretive as a result of this transaction we expect to see a meaningful acceleration of the microsampling portfolio's contribution to both Trajan's top line and EBITDA growth over the next 3-5 years."
Fasha Mahjoor added, "I am extremely pleased to see my Neoteryx team find its next home in Trajan. Today Neoteryx is a global leader in blood microsampling, the team has achieved incredible progress in pioneering the pathway towards decentralized healthcare. With the very clear direction and near future objectives that Trajan has in place, including having the full tool set to enable development and deployment of complete workflow solutions, the adoption will be significantly increased. I am also very pleased to continue the journey as a Trajan shareholder, as I can clearly see a very bright future for the Company." With the departure of Mr Mahjoor, Mr Tomisich will assume an acting CEO position with the current Neoteryx leadership team reporting directly to him.
Mr Tomisich continued, "bringing Neoteryx under the Trajan banner isn't just about the device or products, it is also about the global Neoteryx team. It's a dynamic leadership group based in the USA, UK and Europe with combined 50 years experience in microsampling commercialization with strong backgrounds in chromatography and sample preparation".
In addition, Trajan confirms successful Completion of its acquisition of LEAP PAL Parts and Consumables (as announced on 10 December 2021) for US$7.7M. LEAP PAL Parts is a specialized parts and supplies distribution business, supporting customers operating automated laboratory workflows.
[1] hemaPEN is a registered trademark of Trajan Scientific Australia Pty Ltd.
[2] Mitra® and VAMS® are registered trademarks of Neoteryx LLC.
Authorized for ASX release by the Board of Trajan Group Holdings Limited.
About Trajan
Trajan is a global developer and manufacturer of analytical and life sciences products and devices founded to have a positive impact on human wellbeing through scientific measurement. These products and solutions are used in the analysis of biological, food, and environmental samples. Trajan has a portfolio and pipeline of new technologies which support the move towards decentralised, personalised data-based healthcare.
Trajan is a global organisation of more than 520 people, with six manufacturing sites across the US, Australia, Europe and Malaysia, and operations in Australia, the US, Asia, and Europe.
About Neoteryx
Neoteryx LLC, a medical device company in Southern California, delivers simple, quantitative, qualitative and automatable microsampling solutions. Its Mitra® device based on patented VAMS® (Volumetric Absorptive Micro-sampling) technology facilitates remote specimen collection and transport of blood and other biological fluids to improve human health, reduce laboratory costs and enable new models of care. Neoteryx' s customers include scientific researchers, laboratories and health providers working to advance telemedicine, pharmaceutical development, biotechnology research and clinical diagnostics. For more information, visit www.neoteryx.com.
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