Companies Announce Collaboration on Next-Generation Sequencing
Solutions Workflow
SANTA CLARA, Calif. & HOUSTON--(BUSINESS WIRE)--Mar. 7, 2016--
Agilent Technologies Inc. (NYSE: A) and Lasergen, Inc. today announced
that Agilent is investing $80 million in Lasergen, an emerging
biotechnology company with innovative next-generation sequencing
technology.
With this investment, Agilent will acquire a 48-percent ownership stake
in privately held Lasergen and will join the board. Agilent has the
option to acquire the remaining shares of Lasergen until March 2, 2018,
for an additional consideration of $105 million.
The two companies will collaborate on building a next-generation
sequencing solutions workflow for clinical applications, based on
Lasergen’s Lightning Terminators™ sequencing chemistry. Lightning
Terminators offer potentially faster, more accurate and less expensive
genome sequencing than other technologies currently on the market.
“Agilent is investing in a team and technology that hold great promise
for the future of genetic sequencing,” said Jacob Thaysen, president of
Agilent’s Diagnostics and Genomics Group. “Agilent has been clear about
its strategic intent to grow in the diagnostics space and, to that end,
build a complete routine clinical NGS workflow. Our investment and
collaboration are designed to accelerate Lasergen’s work in
commercializing their novel technology, focused on developing a
sequencing workflow aimed at clinical applications.”
“We’re excited to collaborate with a known leader in diagnostics and
genomics,” said Mimi Healy, Ph.D., president and CEO of Lasergen.
“Agilent’s experience of providing leading products, combined with our
expertise in NGS chemistry, will allow us to develop a comprehensive
solution designed to meet the needs of the routine clinical NGS market.”
The investment will result in a two- to three-cent earnings-per-share
dilution impact on both FY16 and FY17. However, Agilent’s overall
company-level guidance communicated on Feb. 16 remains unchanged.
Agilent’s management will present more details about this transaction on
a conference call with investors today at 2 p.m. PT. This event will be
webcast live in listen-only mode. Listeners may log on at www.investor.agilent.com
and select Lasergen Investment Conference Call in the “News & Events
Calendar of Events” section. The webcast will remain available on the
company’s website for 90 days.
A telephone replay of the conference call will be available at
approximately 5 p.m. PT today through March 14 by dialing +1 855 859
2056 (or +1 404 537 3406 from outside the United States) and entering
passcode 50801686.
About Lasergen
Lasergen is an innovative research and development company dedicated to
the advancement and commercialization of unique nucleotide chemistries
with particular focus on sequencing. While Lasergen’s proprietary
photocleavable chemistry can be used in a wide variety of applications,
the Lightning Terminators are specifically being developed as part of an
NGS platform that includes chemistry, instrumentation and software. The
Houston, Texas-based company was founded in 2002.
About Agilent Technologies
Agilent Technologies Inc. (NYSE: A), a global leader in life sciences,
diagnostics and applied chemical markets, is the premier laboratory
partner for a better world. Agilent works with customers in more than
100 countries, providing instruments, software, services and consumables
for the entire laboratory workflow. The company generated revenues of
$4.04 billion in fiscal 2015 and employs about 12,000 people worldwide.
Information about Agilent is available at www.agilent.com.
Forward-Looking Statements
This news release contains forward-looking statements as defined in the
Securities Exchange Act of 1934 and is subject to the safe harbors
created therein. The forward-looking statements contained herein
include, but are not limited to, information regarding Agilent’s future
revenue, earnings and profitability; and revenue and non-GAAP earnings
guidance for fiscal year 2016. These forward-looking statements involve
risks and uncertainties that could cause Agilent’s results to differ
materially from management’s current expectations. Such risks and
uncertainties are detailed in Agilent’s filings with the Securities and
Exchange Commission, including our annual report on Form 10-K for the
year ended Oct. 31, 2015. Forward-looking statements are based on the
beliefs and assumptions of Agilent’s management and on currently
available information. Agilent undertakes no responsibility to publicly
update or revise any forward-looking statement.
NOTE TO EDITORS: Further technology, corporate citizenship and executive
news is available at www.agilent.com/go/news.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160307006345/en/
Source: Agilent Technologies Inc.
Agilent Technologies Inc.
EDITORIAL CONTACTS:
Michele Drake,
+1 408-345-8396
michele_drake@agilent.com
Victoria
Wadsworth-Hansen, +1 408-553-2005
victoria.wadsworth-hansen@agilent.com
or
INVESTOR
CONTACT:
Alicia Rodriguez, +1 408-345-8948
alicia_rodriguez@agilent.com