Posted: 23/10/2023
The corporate team at Penningtons Manches Cooper has advised Oxford-based Hutano Diagnostics Limited, an innovative, quantitative, multiplex point of care testing platform, on its sale to EDX Medical Group PLC.
Founded in 2018, Hutano Diagnostics’ mission is to enable accurate and timely disease prognosis, diagnosis and management. With a focus on improving the capabilities of lateral flow devices (LFDs), Hutano has developed a quantitative LFD platform, which translates the latest proteomics research into multiplex LFDs.
EDX Medical develops innovative digital diagnostic products and services, for the personalised treatment of cancer, heart disease and infectious diseases. The acquisition will enable EDX Medical to expand its point-of-care testing capabilities with a range of tests capable of accurately measuring a combination of multiple disease markers on a single device within minutes.
The Penningtons Manches Cooper team was led by corporate partner Will Axtell, with support from senior associate Dominique Sabatini, associate Leo Shrimpton, and corporate tax partner Kathy Potter. The wider team included support from banking and finance partner John Chater, pensions senior associate Clare Coley, and data protection senior associate Nora Pook.
Hutano Diagnostics Ltd founder and CEO, Atherton Mutombwera, said: “Joining forces with EDX Medical Group PLC opens up a world of possibilities. It gives us access to the resources, expertise, and global reach necessary to usher in the age of digital point of care diagnostics. Will and the team at Penningtons Manches Cooper deserve a great thanks for their expertise and advice on this important transaction.”
Will Axtell, corporate partner at Penningtons Manches Cooper, said: “We are delighted to have advised Hutano Diagnostics on this important sale to EDX Medical, which will support the continued growth of products and services offered by both businesses.”
Email Will
+44 (0)1865 813670
Email Kathy
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Email Dominique
+44 (0)1865 813667
Email Leo
+44 (0)1865 813619
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