, Inc. Secures Strategic Distribution Rights and Invests in Sapphiros, a Next-Generation Consumer Diagnostics Company
Summary
The relationship expands OraSures innovation pipeline with access to a broad portfolio of key Sapphiros products in development.Distribution of Sapphiros products is expected to accelerate OraSures core revenue growth rate beginning in 2025.BETHLEHEM, Pa., Jan. 04, 2024 (GLOBE NEWSWIRE) -- OraSure Technologies, Inc. (NASDAQ: OSUR), a leader in point-of-care and home diagnostic tests, specimen collection devices, and microbiome laboratory and analytical services, today announced it is leading the Series B financing and has entered wide-ranging strategic distribution agreements with Sapphiros, a privately held consumer diagnostics portfolio company based in Boston, and certain of its related entities. OraSure has secured exclusive distribution rights to key products in Sapphiros development pipeline that align with and enhance OraSures existing areas of expertise, including self-collected blood samples and diagnostic tests for sexually transmitted infections, respiratory conditions, and other diseases.Our partnership and investment in Sapphiros significantly expands and accelerates our product and innovation pipeline. It also advances our vision to improve the access, quality, and affordability of healthcare, including addressing unmet needs in the growing consumer diagnostic market, said Carrie Eglinton Manner, President and CEO of OraSure. We believe OraSures existing commercial infrastructure will allow us to quickly and efficiently scale following regulatory approvals to the populations that need them the most," said Mark Gladwell, President and CEO of Sapphiros. The OraSure family of companies is a leader in the development, manufacture, and distribution of rapid diagnostic tests, sample collection and stabilization devices, and molecular services solutions designed to discover and detect critical medical conditions.