HS BioLabs Ltd, a UK based supplier of molecular diagnostic kits has signed a joint venture agreement with 3B Blackbio Biotech India Limited (3B BlackBio). The deal was structured through share subscription. Financial terms were not disclosed.
In October 2020 HS BioLabs inked a deal to become an exclusive European distributor for 3B BlackBio’s range of TRUPCR® kits. The TRUPCR®range of kits offers one of the largest and unique range of molecular diagnostic qPCR assays in the oncology and infectious disease markets.
This agreement will allow 3B BlackBio to become a major shareholder of HS BioLabs Ltd and thereby forming its European subsidiary. HS BioLabs Ltd will be rebranded as TRUPCR Europe Ltd.
This investment is in line with the company’s vision to accelerate growth of the TRUPCR® range of molecular diagnostic kits within the European market. The European subsidiary will focus on becoming accredited for ISO 13485:2016 and begin R&D as well as Manufacturing. This will enhance customer service allowing the assays to be developed, supplied, and supported quickly throughout the European region. The subsidiary intends to launch a range of NGS assays early next year.
The initial investment will be used to setup R&D and a Manufacturing base in Manchester, as well as increase recruitment in all areas of the business including Sales & Marketing, Production and R&D.
Dhirendra Dubey, CEO of 3B BlackBio said ‘We are delighted to announce this deal which will allow us to grow quickly in one of the largest global markets. The deal is in line with our strategic plan as we look to significantly grow over the next 3 years.’
Harminder Singh, CEO of HS BioLabs Ltd said ‘With the additional support from 3B BlackBio we are confident we will be able to meet our ambitious growth targets as well as start developing and manufacturing kits in the UK. This is a major milestone for both companies.’
As a subsidiary of Kilpest India Limited, 3B BlackBio is an R&D driven company which develops, validates, and manufactures a range of qPCR (TRUPCR®) molecular diagnostic assays for the oncology and infectious disease markets. In addition, it is currently developing a range of NGS products (TRUNGS®) which will complement the TRUPCR® range of kits.
With over a decade of experience and more than 100 products developed and launched, the company ensures in delivering high quality patient care through its diagnostic solutions.
As an ISO13485:2016 accredited company, the molecular diagnostic kits are developed and manufactured in line with the highest possible standards.
HS BioLabs Ltd
HS BioLabs Ltd is a leading supplier of world class molecular diagnostics. The company has a high level of expertise in molecular diagnostic platforms and kits. It has built a broad network of clients throughout Europe including the NHS and private labs.
The company offers technical support and training on all its products and is committed to increasing the efficiency of laboratory testing and enhancing patient care.