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Axis-Shield Diagnostics has secured a £1.3m funding deal from Barclays for the expansion of its Tayside-based medical diagnostics business.

Axis-Shield, the medical diagnostics firm with sites in Dundee and Uxbridge, is to be acquired by Alere of the US for £235m.

Axis-Shield is to acquire the global clinical chemistry homocysteine operations of US-based Catch Incorporated for £6.3m.

Axis-Shield is considering plans to expand the workforce at its Dundee factory, due to rising demand for its diagnostic test products, which could involve expanding the building or finding new space.

Axis-Shield has sold its autoimmune diagnostics business to the Euro-Diagnostica Group for £2.2m.

Axis-Shield is to relocate its biotechnology laboratory division from Norway to Dundee by the end of the year, with the creation of up to 20 jobs.

Axis-Shield is to invest £6m in the development of a new point-of-care system for on-the-spot tests to detect disease, and the manufacturing will be subcontracted.

Axis-Shield has raised £8.3m in a share placing to fund the expansion of its medical diagnostics business.

Axis-Shield is acquiring the point-of-care testing business of Nycomed Pharma of Norway for £22m.

Axis-Shield is planning to acquire Medinor, the Norwegian medical products distributor, for £4.5m.