QIAGEN to Acquire SABiosciences
(Thomson Reuters ONE) - Corporate news announcement processed and transmitted by Hugin AS.The issuer is solely responsible for the content of this announcement. ------------------------------------------------------------------------------------ Transaction adds to QIAGEN's content engine for development of futurediagnostics and boosts the Company's presence in pharma discovery and validationVENLO, The Netherlands, November 9, 2009 - QIAGEN N.V. (NASDAQ: QGEN;Frankfurt, Prime Standard: QIA) today announced that it has signed adefinite agreement to acquire SABiosciences Corporation, aprivately-held developer and manufacturer of disease- andpathway-focused PCR assay panels. SABiosciences is based inFrederick, Maryland (USA), and employs a staff of around 100. Thetransaction is valued at US$90 million in cash (subject to customarypurchase price adjustments) and is expected to close in late December2009, following approval of SABiosciences' stockholders and theexpiration of the statutory waiting period under theHart-Scott-Rodino Antitrust Improvements Act of 1976.SABiosciences holds a leading position in the design andcommercialization of disease- and pathway-focused real-time PCR-basedassay panels ("PCR Arrays"), which are widely utilized in biomedicalresearch and in the development of future drugs and diagnostics. Thecompany's primary product family includes more than 100 real-time PCRassay panels designed for high-performance analysis of DNA, RNA,epigenetic and microRNA targets in biological pathways associatedboth with specific diseases such as cancer, diabetes, immune andcardiovascular disorders, as well as with pathways such as apoptosis(programmed cell death), signal transduction and toxicology.Solutions focusing on the analysis of molecular interactions inpathways - a series of actions among molecules in a cell - open up anew dimension for gene analysis. Conventional assay products areusually designed for the study of a single gene's expression and notoffered in complete panels covering all genes of interest associatedwith a specific disease or pathway. SABiosciences, in contrast, is apioneer in the design of preformatted PCR assay panels and focuses onthe biology of entire pathways and interaction of all genes involvedin a specific disease. In a single experiment users can thereforelearn how gene activity in their samples correlates with the state ofa disease of their particular interest. As such, SABiosciences'expertise and unique offering lie in the biomedical andbioinformatics know-how required to design and format such assaypanels. Its approach allows biomedical researchers and pharmaceuticalcompanies to facilitate and accelerate the discovery and validationof biomarkers.The discovery and validation of biomarkers is also of key interest inthe development of diagnostics. By supplying disease- andpathway-focused panels to biomedical and pharma activities indiscovery and preclinical research, QIAGEN can contribute to thediscovery and validation engines of biomedical and pharmainstitutions. This can prompt collaborations around these engines tocreate fast-track approvals to new diagnostic content for prevention,profiling (as spin-offs of pharmaceutical research), and personalizedhealthcare (as an integral interest of the pharmaceutical companies).The transaction is therefore also highly synergistic with QIAGEN'srecent acquisition of DxS Ltd which has put the Company in a leadingposition in the emerging field of personalized healthcare."SABiosciences is a leader in design and commercialization ofdisease- and pathway-based PCR assay panels", said Peer Schatz, CEOof QIAGEN. "These assay panels are designed for use with andleveraged by QIAGEN's sample and assay technologies and can be run onQIAGEN instruments. Subject to final closing, the transaction cancreate great value for both our strategy in pharma and our strategyin diagnostics. The addition of SABiosciences will boost ourbiological content engine significantly by adding to our position asa premium partner for the pharmaceutical industry and to the use ofthis position to yield diagnostic content for prevention, profiling,and, most significantly, personalized healthcare.""We are very delighted with this merger", said Li Shen, President ofSABiosciences. "The combination of SABiosciences' strong contentdevelopment and bioinformatics capability with QIAGEN's leadership inmolecular biology and its global footprint allow us to take ourproven PCR Array technology to the next level. Together with QIAGENwe can roll out this technology internationally and bundle it withone of the industry's most reputed product portfolios, therebyproviding even more value to our customers."SABiosciences' operations are located in the immediate vicinity ofQIAGEN's North American headquarters based in Germantown andGaithersburg, Maryland. This proximity is expected to contribute to arapid and smooth integration of SABiosciences into QIAGEN operations.Subject to the closing of the transaction, QIAGEN intends to furtherexpand the segment of disease- and pathway-focused assay panels.QIAGEN also intends to establish SABiosciences' Frederick site as aCenter of Excellence in biological content development and - due tothe high level of synergies - to further grow the location in thenear future.Highlights of the acquisition agreement signed: * Subject to SABiosciences' stockholder approval and the expiration of the statutory waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. * Consideration of US$90 million in cash (subject to customary purchase price adjustment). * Expected to add revenues of approximately US$24 million in sales for 2010. The growth rate on these $24 million in revenues is expected above QIAGEN's average growth rate. * Expected one-time charges of approximately US$0.02 in earnings per share (EPS) in the last quarter of 2009 which primarily related to costs and expenses incurred in connection with the acquisition such as advisory fees as well as the write-off of certain assets. * On an adjusted basis excluding one-time charges, integration and restructuring costs, and amortization of acquisition related intangible assets, the acquisition is expected to be neutral to EPS in 2010 and to significantly accretive to adjusted EPS in 2011.About QIAGEN:QIAGEN N.V., a Netherlands holding company, is theleading global provider of sample and assay technologies. Sampletechnologies are used to isolate and process DNA, RNA and proteinsfrom biological samples such as blood or tissue. Assay technologiesare used to make such isolated bio-molecules visible. QIAGEN hasdeveloped and markets more than 500 sample and assay products as wellas automated solutions for such consumables. The company provides itsproducts to molecular diagnostics laboratories, academic researchers,pharmaceutical and biotechnology companies, and appliedtesting customers for purposes such as forensics, animal or foodtesting and pharmaceutical process control. QIAGEN's assaytechnologies include one of the broadest panels of moleculardiagnostic tests available worldwide. This panel includes thedigeneHPV Test, which is regarded as a "gold standard" in testing forhigh-risk types of human papillomavirus (HPV), the primary cause ofcervical cancer, as well as a broad suite of solutions for infectiousdisease testing and companion diagnostics. QIAGEN employs more than3,300 people in over 30 locations worldwide. Further informationabout QIAGEN can be found at http://www.qiagen.com/.About SABiosciences:SABiosciences Corporation, a privately held biotechnology companyfounded in 1998, envisions a new and systematic approach tobiological research in the post-genomic era. In recognition of itsstrong performance, SABiosciences has received many awards includingInc. 5000 Fastest Growing Companies (2007 and 2008), The ScientistMagazine's 2009 Top 30 Best Places to Work Award. For moreinformation about SABiosciences, visit www.SABiosciences.comSAFE HARBOR STATEMENTStatements contained in this release that are not historical factsare forward-looking statements, including statements about ourproducts, markets, strategy and operating results. Such statementsare based on current expectations that involve risks anduncertainties including, but not limited to, those associated with:management of growth and international operations (including currencyfluctuations and logistics), variability of our operating results,commercial development of our markets (including applied testing,clinical and academic research, proteomics, women's health/HPVtesting, molecular diagnostics, personalized healthcare and companiondiagnostics), our relationships with customers, suppliers andstrategic partners, competition, changes in technology, fluctuationsin demand, regulatory requirements, identifying, developing andproducing integrated products differentiated from our competitors'products, market acceptance of our products, and integration ofacquired technologies and businesses. For further information, referto our filings with the SEC, including our latest Form 20-F.Information in this release is as of the date of the release, and weundertake no duty to update this information unless required by law. # # #Contacts:Investor Relations: Public Relations:Dr. Solveigh Mähler Dr. Thomas TheuringerDirector Investor Relations Associate Director PublicQIAGEN N.V. Relations+49 2103 29 11710 QIAGEN GmbHe-mail: +49-2103-29-11826solveigh.maehler(at)qiagen.com e-mail: thomas.theuringer(at)qiagen.comAlbert F. FleuryInvestor Relations North AmericaQIAGEN N.V.+1 301 944 7028e-mail: albert.fleury(at)qiagen.com --- End of Message ---Qiagen N.V.Spoorstraat 50 KJ Venlo NetherlandsWKN: 901626; ISIN: NL0000240000; Index: HDAX, MIDCAP, Prime All Share, TECH All Share, TecDAX;Listed: Prime Standard in Frankfurter Wertpapierbörse, Freiverkehr in Börse Berlin, Freiverkehr in Börse Düsseldorf, Freiverkehr in Hanseatische Wertpapierbörse zu Hamburg, Freiverkehr in Niedersächsische Börse zu Hannover, Freiverkehr in Bayerische Börse München, Freiverkehr in Börse Stuttgart;
Datum: 09.11.2009 - 22:00 Uhr
Sprache: Deutsch
News-ID 8135
Anzahl Zeichen: 0
contact information:
Town:
London
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 223 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"QIAGEN to Acquire SABiosciences"
steht unter der journalistisch-redaktionellen Verantwortung von
Qiagen N.V. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
