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Agilent Technologies Inc.. (4/3/18). "Press Release: Agilent Technologies Signs Agreement to Acquire Lasergen, Inc.". Santa Clara, CA.

Organisation Organisation LaserGen Inc.
Products Product Lightning Terminators™
  Product 2 genomic technology
Index terms Index term LaserGen–Agilent: investment, 201804–201805 acquisition remaining 52% for $105m
  Index term 2 LaserGen–Agilent: investment, 201603 acquisition 48% share for $80m plus option to acquire remaining share for $105m until 2 March 2018
Persons Person Thaysen, Jacob (Agilent 201804 SVP + President LSAG business before DGG business joined via Dako acquisition)
  Person 2 Healy, Mimi (LaserGen 201603 CEO before Bacterial Barcodes 200609 CEO)
     


Acquisition affirms Agilent’s strategic intent to grow in the diagnostics space and build a complete routine clinical NGS workflow


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 2016 Agilent 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 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.


Editorial Contacts

Victoria Wadsworth-Hansen
Agilent Technologies
+1 408 553 2005
+ 45 29336980
victoria.wadsworth-hansen@agilent.com

Stefanie Notaney
Agilent Technologies
+1 408 345 8955
stefanie.notaney@agilent.com
Investor Contact

Alicia Rodriguez
Agilent Technologies
+1 408 345 8948
alicia_rodriguez@agilent.com

   
Record changed: 2018-04-14

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