Acquisition affirms Agilent’s strategic intent to grow in the
diagnostics space and build a complete routine clinical NGS workflow
SANTA CLARA, Calif.--(BUSINESS WIRE)--Apr. 3, 2018--
Agilent Technologies Inc. (NYSE: A) and Lasergen, Inc. (Lasergen) today
announced that they have signed a definitive agreement for Agilent to
acquire the remaining shares of Lasergen, an emerging biotechnology
company focused on research and development of innovative technologies
for DNA sequencing, for $105 million.
In March 2016Agilent made an initial investment in the privately-held
company to acquire a 48-percent ownership stake with a two-year call
option to acquire the remaining shares. Agilent gave its notice of
exercise on February 23, 2018.
Lasergen and Agilent have been collaborating on building a
next-generation sequencing workflow for clinical applications, with
sequencing technology based on Lasergen’s Lightning Terminators™
chemistry. Lightning Terminators offer potentially faster, more accurate
and less expensive genome sequencing than other technologies currently
on the market.
“Building a next-generation sequencing workflow for clinical
applications is a critical component to Agilent’s diagnostics strategy
to fight cancer and constitutional diseases,” said Jacob Thaysen,
president of Agilent’s Diagnostics and Genomics Group. “We are focused
on delivering patient-centric, actionable information for clinical
decisions. Ensuring an integrated customer experience across all of our
diagnostic modalities is essential and will become a key differentiator
going forward.”
“Over the past two years, Agilent and Lasergen have worked closely
together and developed a strong partnership,” said Kamni Vijay, Ph.D.,
vice president and general manager of Agilent’s Genomics division. “The
decision to acquire the remaining shares of Lasergen demonstrates our
commitment to the team and technology, and our strategic intent to build
a complete routine clinical NGS workflow.”
“We are excited that the successful collaboration of the Lasergen and
Agilent teams will continue as one combined team bringing together
Lasergen’s expertise in NGS chemistry with Agilent’s leadership in
target enrichment, clinical interpretation support software, and strong
technologies in automation and microfluidics,” said Mimi Healy, Ph.D.,
president and CEO of Lasergen. “The molecular diagnostic market
opportunity for NGS is still in early phases and we are in a unique
position to create integrated clinical workflows – and ultimately to
enable better treatment decisions and precision medicine.”
Founded in 2002, Lasergen is based in Houston, Texas with one location
in San Diego, Calif. Lasergen has 45 employees.
The transaction is subject to customary closing conditions and
regulatory approval.
About Lasergen, Inc.
Lasergen, Inc. is an emerging biotechnology company focused on
commercializing novel chemistry for life science solutions. Lasergen’s
expertise in nucleotide chemistry and next-generation sequencing has led
to a number of key discoveries resulting in both game-changing
sequencing chemistry (Lightning Terminators™) and an accurate sequencing
platform. Founded in 2002, the Houston, Texas-based company recently
opened a second location in San Diego, Calif. More information can be
found at www.lasergen.com.
About Agilent Technologies
Agilent Technologies Inc. (NYSE: A) is a global leader in life sciences,
diagnostics, and applied chemical markets. With more than 50 years of
insight and innovation, Agilent instruments, software, services,
solutions, and people provide trusted answers to its customers' most
challenging questions. The company generated revenues of $4.47 billion
in fiscal 2017 and employs 14,200 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; planned new products; market
trends; the future demand for the company’s products and services;
customer expectations; and revenue and non-GAAP earnings guidance for
the second quarter and full fiscal year 2018. 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 include, but are not limited to, unforeseen
changes in the strength of our customers’ businesses; unforeseen changes
in the demand for current and new products, technologies, and services;
unforeseen changes in the currency markets; customer purchasing
decisions and timing, and the risk that we are not able to realize the
savings expected from integration and restructuring activities. In
addition, other risks that Agilent faces in running its operations
include the ability to execute successfully through business cycles; the
ability to meet and achieve the benefits of its cost-reduction goals and
otherwise successfully adapt its cost structures to continuing changes
in business conditions; ongoing competitive, pricing and gross-margin
pressures; the risk that our cost-cutting initiatives will impair our
ability to develop products and remain competitive and to operate
effectively; the impact of geopolitical uncertainties and global
economic conditions on our operations, our markets and our ability to
conduct business; the ability to improve asset performance to adapt to
changes in demand; the ability of our supply chain to adapt to changes
in demand; the ability to successfully introduce new products at the
right time, price and mix; the ability of Agilent to successfully
integrate recent acquisitions; the ability of Agilent to successfully
comply with certain complex regulations; and other risks detailed in
Agilent’s filings with the Securities and Exchange Commission, including
our quarterly report on Form 10-Q for the first quarter ended January
31, 2018. 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 on the Agilent news site at www.agilent.com/go/news.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180403006415/en/
Source: Agilent Technologies Inc.
Agilent Technologies:
EDITORIAL CONTACTS:
Victoria
Wadsworth-Hansen, +1 408-553-2005
+ 45 29336980
victoria.wadsworth-hansen@agilent.com
or
Stefanie
Notaney, +1 408-345-8955
stefanie.notaney@agilent.com
or
INVESTOR
CONTACT:
Alicia Rodriguez, +1 408-345-8948
alicia_rodriguez@agilent.com