Agilent Technologies to Acquire Remaining Stake in Lasergen
Agilent Technologies has signed an agreement to acquire the remaining shares of Lasergen, a diagnostics company focused on DNA sequencing technology. The deal is valued at $105 million.
Agilent Technologies announced it has signed a definitive agreement to acquire the remaining shares of Lasergen, a company developing novel DNA sequencing technologies. The transaction is valued at $105 million.
Agilent initially invested in the privately held company in March 2016, acquiring a 48 percent ownership stake with a two-year call option for the remaining shares. Agilent exercised its option on February 23, 2018.
The collaboration between Agilent and Lasergen has focused on building a next-generation sequencing (NGS) workflow for clinical applications. Lasergen's Lightning Terminators chemistry is designed to enable faster, more accurate, and less expensive genome sequencing compared to existing technologies.
Jacob Thaysen, president of Agilent's Diagnostics and Genomics Group, stated that developing an NGS workflow for clinical applications is critical to Agilent's diagnostics strategy for fighting cancer and constitutional diseases. The company aims to provide patient-centric, actionable information for clinical decision-making.
Founded in 2002, Lasergen is based in Houston, Texas, with a location in San Diego, California. The company employs 45 people. The transaction is subject to customary closing conditions and regulatory approval.