SABiosciences was founded by a Chinese woman.
Qiagen Acquires SABiosciences for $90M
November 10, 2009
By a GenomeWeb staff reporter
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NEW YORK (GenomeWeb News) – Qiagen said yesterday that it has signed a
definite agreement to acquire SABiosciences, a privately-held developer and
manufacturer of disease- and pathway-focused PCR assay panels, for $90
million.
SABiosciences, based in Frederick, Md., employs some 100 workers. Its
primary product family includes more than 100 real-time PCR assay panels for
analyzing DNA, RNA, epigenetic, and microRNA targets in biological pathways
associated with specific diseases such as cancer, diabetes, and immune and
cardiovascular disorders; as well as with pathways such as apoptosis, signal
transduction, and toxicology.
Qiagen said that the assay panels are used in biomedical research and in the
development of future drugs and diagnostics. In particular, Qiagen said
that it expects the acquisition to be highly synergistic with its September
acquisition of UK-based companion diagnostics firm DxS.
"These assay panels are designed for use with and leveraged by Qiagen's
sample and assay technologies and can be run on Qiagen instruments," CEO
Peer Schatz said in a statement. "Subject to final closing, the transaction
can create great value for both our strategy in pharma and our strategy in
diagnostics."
Qiagen noted that SABiosciences' operations are located near Qiagen's North
American headquarters in Germantown and Gaithersburg, Maryland, which is
expected to "contribute to a rapid and smooth integration of SABiosciences
into Qiagen operations," the company said.
Subject to the closing of the transaction, Qiagen also intends to expand the
disease- and pathway-focused assay panels and to establish and grow
SABiosciences' Frederick site as a center of excellence in biological
content development.
Qiagen said that it expects the acquisition to close in late December 2009,
and that it will contribute revenues of approximately $24 million in sales
in 2010. The acquisition is also expected to be neutral to EPS in 2010 and
to significantly accretive to adjusted EPS in 2011, the company said.
