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Agilent Technologies Inc.. (1/9/18). "Press Release: Agilent Expands Cell Analysis Portfolio with Acquisition of Luxcel Biosciences". Santa Clara, CA.

Organisation Organisation Luxcel Biosciences Ltd.
Products Product cell analysis technology
  Product 2 fluorescence spectroscopy
Index terms Index term Luxcel Biosciences–Agilent: investment, 201801 acquisition €na of Luxcel by Agilent
  Index term 2 Seahorse Bioscience–Agilent: investment, 201509–201511 acquisition $235m in cash by Agilent
Persons Person Christian, Todd (Agilent 201506 Senior Director Global Segment Marketing before Guava Technologies)
  Person 2 Fernandes, Richard (Luxcel Biosciences 2002– CEO + Co-Founder)
     


Highlights:
> Focused R&D expansion providing core competencies in biosensor chemistries and bioassay solutions targeting pharma/biopharma applications for near and long-term portfolio expansion
> Broadens cell analysis portfolio with addition of complementary plate reader-based cellular assays
> Accelerates expansion into pharma/biopharma discovery and in vitro toxicology screening applications

Agilent Technologies Inc. (NYSE: A) today announced it has acquired Cork, Ireland-based Luxcel Biosciences ("Luxcel"), a developer of real-time fluorescence plate-reader based in vitro cell assay kits. This acquisition expands Agilent's cell analysis portfolio with the addition of easy-to-use assay kits that are compatible with industry standard plate-readers.

"Technological advancements allowing researchers to examine cell health and function kinetically and in real-time are driving global demand for complete cell analysis solutions," said Todd Christian, General Manager of Agilent's Cell Analysis Division." Luxcel's assay kits are optimized for standard fluorescent plate readers for broad customer application helping to address this growing demand."

Luxcel is developing a portfolio of in vitro cell-based assay kits and solutions targeting cell metabolism, drug safety and toxicity, as well as hypoxia and oxidative stress for a variety of life science customers from research institutions to pharmaceutical companies. Scientists use this technology to understand the roll of cell metabolism across a variety of important research areas including cancer, metabolic disorders, cardiovascular disease, immunology, and infectious disease.

Agilent entered the cell analysis market in 2015 with the acquisition of Seahorse Bioscience, a leader in providing specialized instruments and live-cell, kinetic assays. "Luxcel is highly complementary to our Seahorse offerings," said Christian. "With this acquisition, we further extend our leadership in live-cell, kinetic assays accelerating our expansion into pharmaceutical and biopharma discovery and in vitro toxicology screening applications."

"We are a young and motivated group," said Richard Fernandes, CEO of Luxcel. "When Agilent approached us, it was clear to me that we have a shared passion for innovation designed to enable and support customers. Together, we have the potential to accelerate new product introductions by leveraging Agilent's R&D and global commercial infrastructures with our unique biosensor chemistries and assay development expertise."

Founded in 2002 by Richard Fernandes and Dmitri Papkovsky as a spin out company from University College Cork and a member of the High Potential Start Up program at Enterprise Ireland, Luxcel has 12 employees and is headquartered in Cork, Ireland. The Luxcel team will remain in Cork and form a dedicated sensor chemistries and bioassay solutions group within Agilent's Cell Analysis Division. Financial terms of the deal are not being disclosed.


About Luxcel

Luxcel was founded in 2002 in Co. Cork, Ireland, and is a multi-award winning provider of cost-effective and easy to use real-time kinetic fluorescence-based in vitro live-cell test kits, targeting Cell Metabolism, Drug Safety and Toxicity, and Hypoxia and Oxidative Stress applications. Our customers range from University research scientists, to global Pharmaceutical Companies and Contract Research Organizations. For more information visit our new website www.luxcel.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 13,500 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 first 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 annual report on Form 10-K for the fiscal year ended October 31, 2017. 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 (Business)
+1 408 553 2005
+ 45 29336980
victoria.wadsworth-hansen@agilent.com

Stefanie Notaney (Enterprise)
+1 408 345 8955
stefanie.notaney@agilent.com
Investor Contact

Alicia Rodriguez
+1 408 345 8948
Alicia_rodriguez@agilent.com

   
Record changed: 2018-01-18

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