Agilent to Expand Portfolio and Capabilities in Cell Analysis with Acquisition of ACEA Biosciences
SANTA CLARA, Calif.--(BUSINESS WIRE)--Sep 25, 2018--Agilent Technologies Inc. (NYSE: A) today announced it has signed a definitive agreement to acquire privately-owned ACEA Biosciences Inc. (ACEA), a developer of cutting-edge cell analysis instruments for life science research and clinical diagnostics, for $250 million in cash.
“Expanding our cell analysis footprint is a key strategic growth initiative,” said Jacob Thaysen, president of Agilent’s Life Sciences and Applied Markets Group. “Innovative approaches to cell analysis are driving market demand and leading to a better understanding of diseases and the discovery of potential therapeutics.”
Since its inception in 2002, ACEA has launched two ground-breaking, highly differentiated platforms. ACEA is revolutionizing the field of flow cytometry with its high-performance, customizable line of NovoCyte® benchtop flow cytometers. ACEA’s xCELLigence® instruments enable label-free, real-time monitoring of cell growth, cell function, and cellular responses to a variety of treatments, providing scientists information-rich cellular assays.
ACEA also has a CFDA approved and CE-IVD labelled cytometer configuration. ACEA’s clinical flow cytometer, currently commercialized primarily in China, brings a unique opportunity with Agilent’s Reagent Partnership business within Agilent’s Diagnostics and Genomics Group which provides reagents for flow cytometry.
ACEA instruments are used worldwide in both academia and industry across a wide range of life science applications from basic research to clinical diagnostics including preclinical drug discovery and development, toxicology & safety pharmacology, and various disease studies.
“ACEA represents a unique opportunity for Agilent to expand its team and broaden its portfolio with highly complementary technology, increasing the relevance and impact we can have with our customers in the cell analysis space,” said Todd Christian, Vice President & General Manager of Agilent’s Cell Analysis Division. “We share the same passion around the need for and innovation of live-cell, kinetic, and label free approaches to cell analysis extending beyond traditional end-point measurements. Together, we will be able to offer a more comprehensive and compelling product portfolio to our collective customers.”
“Agilent and ACEA are aligned with a common mission to provide innovative high-performance solutions that help our customers advance scientific discovery and improve healthcare,” said Xiaobo Wang, President and Chief Technology Officer (CTO) of ACEA. “We are excited for the opportunities that this unique combination will create for both our employees and our customers.”
ACEA is headquartered in San Diego and has a large manufacturing and R&D footprint in Hangzhou, China.
Building Critical Mass in Cell Analysis
Agilent entered the cell analysis market in 2015 with the acquisition of Seahorse Bioscience, a leader in providing specialized instruments and live-cell, kinetic assays. Agilent Seahorse XF technology was a leap in the evolution of cellular metabolism analysis allowing researchers to investigate metabolism in live cells. In January 2018 Agilent broadened its portfolio of cell analysis solutions through the acquisition of Luxcel Biosciences. Luxcel’s assays use soluble sensors to analyze metabolism, making them a perfect complement to Agilent’s Seahorse XF technology, providing researchers with more options to analyze metabolism.
Founded in 2002, ACEA is a pioneer in the development and commercialization of high performance cell analysis platforms for life science research. ACEA’s xCELLigence® Real-Time Cell Analysis instruments and NovoCyte® flow cytometers are used in pre-clinical drug discovery and development, toxicology, safety pharmacology, and basic academic research. More than 2,500 instruments have been placed globally and have been used in more than 1,800 peer-reviewed publications. For more information visit https://www.aceabio.com/.
About Agilent Technologies
Agilent Technologies Inc. (NYSE: A) is a global leader in life sciences, diagnostics, and applied chemical markets. With more than 50 years of insight and innovation, Agilent instruments, software, services, solutions, and people provide trusted answers to customers’ most challenging questions. The company generated revenues of $4.47 billion in fiscal 2017 and employs 14,500 people worldwide. Information about Agilent is available at www.agilent.com. To receive the latest Agilent news, subscribe to our Newsroom.
This news release contains forward-looking statements as defined in the Securities Exchange Act of 1934 and is subject to the safe harbors created therein. The forward-looking statements contained herein include, but are not limited to, statements regarding the capabilities and expertise the acquisition brings, the ability to supply industry requirements and acceleration of growth. These forward-looking statements involve risks and uncertainties that could cause Agilent’s results to differ materially from management’s current expectations. Such risks and uncertainties include, but are not limited to, the ACEA transaction not being timely completed, if completed at all, and the ability to integrate ACEA’s operations with Agilent’s, retain key employees, meet customer expectations and realize efficiencies from the combined businesses. In addition, other risks that Agilent faces in running its operations include the ability to execute successfully through business cycles; the ability to meet and achieve the benefits of its cost-reduction goals and otherwise successfully adapt its cost structures to continuing changes in business conditions; ongoing competitive, pricing and gross-margin pressures; the risk that our cost-cutting initiatives will impair our ability to develop products and remain competitive and to operate effectively; the impact of geopolitical uncertainties and global economic conditions on our operations, our markets and our ability to conduct business; the ability to improve asset performance to adapt to changes in demand; the ability of our supply chain to adapt to changes in demand; the ability to successfully introduce new products at the right time, price and mix; the ability of Agilent to successfully integrate recent acquisitions; the ability of Agilent to successfully comply with certain complex regulations; and other risks detailed in Agilent’s filings with the Securities and Exchange Commission, including our quarterly report on Form 10-Q for the quarter ended July 31, 2018. Forward-looking statements are based on the beliefs and assumptions of Agilent’s management and on currently available information. Agilent undertakes no responsibility to publicly update or revise any forward-looking statement.
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PUB: 09/25/2018 09:00 PM/DISC: 09/25/2018 09:00 PM