Agilent Technologies (NYSE:A) said today it is investing $80 million in next-gen sequencing tech developer Lasergen.
Through the investment, Agilent will acquire a 48% ownership stake in Lasergen and will join the board, the company said. Agilent will retain the option to acquire the remaining shares until March 2, 2018 for an additional $105 million.
“Agilent is investing in a team and technology that hold great promise for the future of genetic sequencing. Agilent has been clear about its strategic intent to grow in the diagnostics space and, to that end, build a complete routine clinical NGS workflow. Our investment and collaboration are designed to accelerate Lasergen’s work in commercializing their novel technology, focused on developing a sequencing workflow aimed at clinical applications,” Agilent diagnostics and genomics group prez Jacob Thaysen said in a press release.
The companies will colalborate to build a next-gen sequencing solutions workflow for clinical applications based on Lasergen’s Lightning Terminator sequencing chemistry, Agilent said.
“We’re excited to collaborate with a known leader in diagnostics and genomics. Agilent’s experience of providing leading products, combined with our expertise in NGS chemistry, will allow us to develop a comprehensive solution designed to meet the needs of the routine clinical NGS market,” Lasergen CEO Mimi Healy said in a press release.
Agilent said the investment will result in a 2 or 3¢ earnings per share dilution for both the fiscal year 2016 and 2017.