QuidelOrtho Corporation (NASDAQ: QDEL) acquired LEX Diagnostics Limited, a UK-based molecular diagnostics company that developed ultra-fast PCR testing technology, according to a statement from TTP Group.

LEX Diagnostics, founded in 2020 as a spin-out from TTP Group, developed the VELO system, a point-of-care molecular testing platform that delivers PCR results for Flu A, Flu B and COVID-19 from swab samples. The system provides positive results in as little as 6 minutes and negative results in under 10 minutes.

The VELO system received U.S. Food and Drug Administration 510(k) clearance and CLIA waived status in February 2026. The platform uses proprietary thermal cycling technology that enables rapid molecular testing at urgent care centers, physician office laboratories and pharmacies.

"At TTP, we identified the opportunity for ultra-fast thermal cycling to unlock the real potential of PCR at the point-of-care," said Dr Andrew Baker-Campbell, Chair and founding CEO of LEX Diagnostics. "That insight led our scientists and engineers to invent the core technology behind LEX Diagnostics, and TTP spun out the company to bring lab-quality PCR results to clinicians in minutes."

TTP Group originated LEX Diagnostics from an innovation program to translate ultra-fast thermal control technology into a commercial diagnostic solution. The acquisition terms were not disclosed in the statement.

QuidelOrtho describes itself as a global leader in in vitro diagnostics. TTP Group operates as an independent technology company that partners with clients to develop breakthrough technologies across healthcare, medtech, life sciences and other sectors.