Sep. 22, 2009 (Hugin AS) -- Corporate news announcement processed and transmitted by Hugin AS.
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In addition, QIAGEN unveils for the first time its companion
diagnostic pipeline, which the Company believes is unmatched in terms
of depth and profile
VENLO, The Netherlands, September 22, 2009 - QIAGEN N.V. (NASDAQ:QGEN) (NASDAQ:
QGEN; Frankfurt, Prime Standard: QIA) today announced that it has
acquired DxS Ltd (DxS), a privately-held developer and manufacturer
of companion diagnostic products headquartered in Manchester, United
Kingdom. The transaction is valued at approximately US$ 95 million in
cash (subject to customary purchase price adjustments), plus up to an
additional US$ 35 million if specified commercial and other
milestones are met.
With this acquisition, QIAGEN has taken a strong leadership position
in the new era of personalized healthcare (PHC). The Company believes
it offers all the required elements to help drive and shape this
rapidly emerging trend in healthcare.
In addition, QIAGEN unveiled for the first time that the combined
company is currently active in over 15 collaborations with
pharmaceutical companies to market and / or develop companion
diagnostic products. The programs span genetic, expression,
epigenetic and other markers. QIAGEN believes that this pipeline is
the deepest such portfolio in the pivotal field of molecular
diagnostics for personalized healthcare.
Acquisition of DxS
The acquisition of DxS brings to QIAGEN a portfolio of molecular
diagnostic assays and intellectual property, as well as a deep
pipeline of active or planned companion diagnostic partnerships in
oncology with many of the leading pharmaceutical companies, including
seven of the largest drug makers in this field. These assets
complement QIAGEN's existing strong portfolio of personalized
healthcare diagnostic solutions and are very synergistic with
QIAGEN's sample and assay technologies.
DxS has developed a set of molecular diagnostic assays which allow
physicians in oncology to predict patients' responses to certain
treatments in order to make cancer therapies more effective and
safer. The currently marketed portfolio spans seven real-time PCR
tests including a test for the mutation status of the oncogene K-RAS,
which is indicative for successful treatment of patients suffering
from metastatic colorectal cancer (mCRC) with EGFR inhibitors. In
addition, three assays are in the near-term pipeline and further
assays are in the medium-term pipeline. DxS' portfolio of assays,
both marketed and in its pipeline, is strongly suitable for use with
QIAGEN's existing suite of platform instruments, including
QIAsymphony and Rotor-Gene Q.
DxS is one of the pioneers which have brought molecular companion
diagnostics to market. The TheraScreen: K-RAS Mutation Kit® developed
by DxS has already been CE-marked. In the United States, the test is
expected to be submitted to the FDA for regulatory approval (PMA) in
2010. It is estimated that in the future the market for overall K-RAS
testing could reach up to US$ 100 million. DxS' current portfolio and
near-term pipeline includes ten unique and proprietary assays. The
company has accumulated a significant intellectual property portfolio
for its current and planned diagnostic content.
"The acquisition of DxS is strategically a highly important
transaction for QIAGEN. It combines two leadership positions to
create a very powerful leader in a transformational area of
healthcare: personalized healthcare. This transaction is a key
element of our strategy to lead in molecular diagnostic-based
prevention, profiling and personalized healthcare. These three
elements are expected to significantly shape and contribute to future
improvements in healthcare and have the potential to provide
significant benefits to patients as well as exceptional value for
payers, providers, and the pharmaceutical industry", said Peer M.
Schatz, CEO of QIAGEN.
"QIAGEN is the ideal partner for DxS to globally roll out our assays,
to take our partnerships to the next level and to take a leadership
position in companion diagnostics", said Stephen Little, founder and
CEO of DxS. "Unlike any other company, we believe that QIAGEN
addresses the broadest range of companion diagnostic options for
pharmaceutical and large biotech companies - starting from an
independent sales reach over broad technology, R&D and manufacturing
capabilities up to expertise in regulatory affairs and access
creation to physicians and laboratories."
"This combination has the potential to create a classical win-win
situation for everyone involved", said Peer Schatz. "We believe that
QIAGEN can use its enhanced strategic position to leverage the
opportunities in personalized healthcare: pharma customers can
benefit from a stronger, independent and focused partner to better
serve their special development needs, employees can benefit from
enhanced career opportunities, physicians can benefit from faster
access to better tools for diagnosis and treatment, and healthcare
systems can benefit from the potential for increases in effective and
efficient treatments.
