BDB Pitmans advises Novacyt UK Holdings on its £12 million acquisition of IT-IS International

The BDB Pitmans corporate team has advised existing client Novacyt UK Holdings Limited (EURONEXT GROWTH: ALNOV; AIM: NCYT) an international specialist in clinical diagnostics, on its £12 million acquisition of the entire share capital of IT-IS International Limited, a diagnostic instrument development and manufacturing company.

The acquisition strengthens Novacyt’s position in the market and supports the longer-term growth opportunity for rapid near-patient testing as well as securing key IP and expanding the product offering and core capabilities in instrument manufacturing.

The BDB Pitmans team was led by Reading-based corporate partner Philip Weaver who was assisted by associate Michelle Gorman.

Philip Weaver comments:

‘The BDB Pitmans corporate team is delighted to continue working with Novacyt as it looks to reinforce its strategy and take advantage of the opportunity that COVID-19 has presented the company as it addresses a drive towards rapid, decentralised testing.

Client relationships are built on understanding their objectives and ambitions, and we’re delighted to be part of Novacyt’s growth story.’