Press Release: FORMULATRIX® digital PCR technology to be acquired by QIAGEN
Bedford, Massachusetts - January 10, 2019 - FORMULATRIX has announced that their digital PCR assets, including the CONSTELLATION® series of instruments, is being acquired by QIAGEN N.V. (NYSE: QGEN, Frankfurt Stock Exchange: QIA) for up to $260 million ($125 million upfront payment and $135 million of milestones). QIAGEN has announced plans for a global launch in 2020 of a new series of digital PCR platforms that utilize the advanced dPCR technology developed by FORMULATRIX combined with QIAGEN’s expertise in assay development and automation.
Digital PCR is one of the fastest growing molecular testing techniques in the life science industry with a wide range of applications. It has proven specificity and precision advantages over quantitative PCR (qPCR). The increased specificity allows for the detection of rare mutations that were not possible to detect with existing qPCR methods. QIAGEN intends to develop this technology for future applications in clinical healthcare beyond the initial focus on life science applications..
FORMULATRIX has developed a novel plate-based dPCR technology that has many advantages over existing dPCR technologies. The fully automated workflow has a fast time-to-answer and low hands-on time. The sample throughput is much higher than existing instruments, with up to 200 samples per hour. The available 6-channel detection also allows for high multiplexing.
“The dPCR technology that we’ve developed is unlike anything on the market today, and we are excited that QIAGEN will be bringing the technology to researchers around the world. We believe the combination of QIAGEN’s strong expertise in PCR and broad global presence will advance digital PCR to a new level,” said Jeremy Stevenson, president and CEO of FORMULATRIX.
“The addition of a digital PCR platform, which builds on the highly differentiated assets we are acquiring from FORMULATRIX, is a logical evolution for our PCR portfolio and presents a very exciting opportunity for QIAGEN,” said Peer M. Schatz, Chief Executive Officer of QIAGEN N.V. “As the use of digital PCR continues to emerge and gains utility across a wide range of applications in Life Sciences, we plan for expansion into applications for Molecular Diagnostics. We expect to launch the first of these new digital PCR solutions in 2020 and create seamless integration with our workflows, assay menus and service offerings to help customers unlock valuable molecular insights.”
FORMULATRIX was established in 2002 to provide protein crystallization automation solutions. Since then, we've been developing the next generation of liquid handlers (the MANTIS® and TEMPEST®) using our patented microfluidic technology. From there we have expanded our technology portfolio to include the digital PCR solution that is being acquired. Headquartered in Bedford, Massachusetts, we supply software and robotic automation solutions to leading pharmaceutical companies and academic research institutions around the world. Our team works tirelessly to provide the best products in the industry with support that is second to none. We are committed to researchers, their labs, and to the breakthroughs that will improve the lives of generations to come. To learn more about FORMULATRIX, please visit www.formulatrix.com.
QIAGEN N.V., a Netherlands-based holding company, is the leading global provider of Sample to Insight solutions that enable customers to gain valuable molecular insights from samples containing the building blocks of life. Our sample technologies isolate and process DNA, RNA and proteins from blood, tissue and other materials. Assay technologies make these biomolecules visible and ready for analysis. Bioinformatics software and knowledge bases interpret data to report relevant, actionable insights. Automation solutions tie these together in seamless and cost-effective workflows. QIAGEN provides solutions to more than 500,000 customers around the world in Molecular Diagnostics (human healthcare), Applied Testing (forensics, veterinary testing and food safety), Pharma (pharma and biotech companies) and Academia (life sciences research). As of September 30, 2018, QIAGEN employed approximately 4,900 people in over 35 locations worldwide. Further information can be found at http://www.qiagen.com.