(Source: The Frederick News-Post)
By Ed Waters Jr., The Frederick News-Post, Md.
Nov. 11--Frederick -based SABiosciences Corp. has been sold to Qiagen, a leading provider of sample technologies for research.
The purchase agreement is for $90 million and expected to close in late December.
"The transaction will augment the operation in the Frederick site. Given that the acquisition is pending approval of regulatory authorities, it is premature to comment on the products and personnel impact," said Jeffrey Hung, senior director of marketing for SABiosciences.
SABiosciences, located on Executive Way, has about 100 employees.
The company produces assay panels designed for high-performance analysis of DNA, RNA and other "targets in biological pathways associated with specific diseases such as cancer, diabetes, immune and cardiovascular disorders," according to a company statement.
Peer Schatz, CEO of Netherlands-based Qiagen, said the two companies' products and research will work well together.
"The addition of SABiosciences will boost our biological content engine significantly by adding to our position as a premium partner for the pharmaceutical industry and to the use of this position to yield diagnostic content for prevention, profiling, and, most significantly, personalized healthcare," Schatz said in a prepared statement.
The acquisition will add about $24 million in sales in 2010 for Qiagen, the company said. In its third-quarter report, Qiagen said net sales were $259.7 million, up 13 percent from a year earlier.
In September, Qiagen acquired DxS Ltd., a British manufacturer of diagnostic products for $95 million.
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