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Home » Qiagen acquires Enzymatics’ Enzyme Solutions Unit

Qiagen acquires Enzymatics’ Enzyme Solutions Unit

January 13, 2015
CenterWatch Staff

Qiagen, a Netherlands-based holding company, has acquired the Enzyme Solutions Unit of Enzymatics, a developer, manufacturer and OEM supplier of enzymes essential to driving the adoption of Next-Generation Sequencing (NGS) and other genetic analysis technologies in life sciences research and clinical healthcare.

Enzymatics, a privately held U.S. company founded in 2006, commercializes a comprehensive portfolio of reagents estimated to be used in more than 80% of all global NGS sequencing reactions. These enzymes are key ingredients across the workflows of all commercially available sequencing solutions.

Enzymatics’ franchise adds a deep portfolio of capabilities to Qiagen's strategy to offer a complete NGS workflow from biological sample to valuable molecular insights as well as strengthens a broad and rapidly growing portfolio of "universal" NGS products compatible with any sequencer. The Enzymatics portfolio that has been acquired will be commercialized globally through Qiagen's direct, indirect and OEM channels.

Qiagen has acquired all assets relating to the Enzyme Solutions Unit of Enzymatics—including R&D, manufacturing, formulation and analytical capabilities—which will further enhance the company's expertise in enzymology. Approximately 50 employees have joined Qiagen at the current Enzymatics site in Beverly, Mass. Financial terms of the transaction, which was completed in December, have not been disclosed.

In addition, Qiagen has entered into a strategic partnership with the newly founded company ArcherDX, which integrates the Archer and Supply Chain Solutions businesses of Enzymatics. This agreement provides Qiagen with technology and distribution rights for unique NGS products based on ArcherDX's proprietary AMP chemistry, a target enrichment technology platform that enables the detection of gene fusions, without prior knowledge of fusion partners or breakpoints, and other targets that are considered to be especially critical for Personalized Healthcare in oncology.

"This relationship with Qiagen will accelerate the global adoption of this very powerful ArcherDX technology," said Stephen Picone, co-founder of Enzymatics and now executive director of corporate development at ArcherDX. "In addition, this relationship positions both companies to combine their respective competencies to provide comprehensive solutions for our pharmaceutical customers requiring companion diagnostics for precision medicine."

For 2015, Qiagen expects the acquired Enyzmatics activities to provide approximately $20 million CER (constant exchange rates) of incremental net sales (which takes into account overlapping product portfolios) and to be accretive by approximately $0.01 to adjusted diluted EPS. Qiagen will provide guidance for 2015 with the publication of its fourth quarter and full-year 2014 results Jan. 29.

Following this transaction, Qiagen now will take a business integration and acquisition-related pre-tax charge on operating income in the fourth quarter of 2014 of approximately $21 million (or approximately $0.06 per share of adjusted diluted EPS), and of which $18 million are non-cash items.

These charges, which will be excluded from adjusted results, involve actions to reduce overlapping activities and sites, including the closing of the Gaithersburg, Md., site. In addition, following a review to further improve efficiency and effectiveness, Qiagen now will take a restructuring-related pre-tax charge on operating income in the fourth quarter of 2014 of approximately $26 million (or approximately $0.08 per share), and of which $20 million are non-cash items.

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