Qiagen has signed a definite agreement to acquire SABiosciences, a privately-held developer and manufacturer of disease- and pathway-focused PCR assay panels.
The company said that transaction is valued at $90m in cash and is expected to close, following approval of SABiosciences’ stockholders and the expiration of the statutory waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
Peer Schatz, CEO of Qiagen, said: “These assay panels are designed for use with and leveraged by Qiagen’s sample and assay technologies and can be run on Qiagen instruments. Subject to final closing, the transaction can create great value for both our strategy in pharma and our strategy in diagnostics.
“The addition of SABiosciences will boost our biological content engine significantly by adding to our position as a premium partner for the pharmaceutical industry and to the use of this position to yield diagnostic content for prevention, profiling, and, most significantly, personalized healthcare.”
Li Shen, president of SABiosciences, said: “The combination of SABiosciences’ strong content development and bioinformatics capability with Qiagen’s leadership in molecular biology and its global footprint allow us to take our proven PCR Array technology to the next level. Together with Qiagen we can roll out this technology internationally and bundle it with one of the industry’s most reputed product portfolios, thereby providing even more value to our customers.”
Subject to the closing of the transaction, Qiagen intends to further expand the segment of disease- and pathway-focused assay panels. Qiagen also intends to establish SABiosciences’ Frederick site as a Center of Excellence in biological content development and – due to the high level of synergies – to further grow the location in the near future.