QIAGEN Wins 2010 Mediscience Award for “Transaction of the Year”
Jury recognizes strategic initiative to expand leadership position in personalized healthcare
Germantown, MD and Hilden, Germany, June 28, 2010 --- QIAGEN's acquisition of DxS Ltd. was recognized as the "Transaction of the Year" at this year's Mediscience Awards, the largest annual gathering of publicly quoted healthcare, biotech and life science companies in Europe, held in London.
In September 2009, QIAGEN acquired the personalized healthcare company DxS Ltd., known today as QIAGEN Manchester. DxS had created what may be the deepest portfolio of pharma partnerships in molecular companion diagnostics which are the diagnostic component of personalized healthcare. Its partners include Amgen, AstraZeneca, Bristol-Myers Squibb, Boehringer Ingelheim, Pfizer and others.
The acquisition of DxS added to QIAGEN's rapidly expanding menu of molecular companion diagnostic tests a portfolio of molecular diagnostic assays and intellectual property, as well as a deep pipeline of companion diagnostics in oncology. Most of this portfolio is in development with partners, 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.
The transaction was 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.
"The purchase of DxS was an important strategic step for QIAGEN. It allowed us to build a leadership position in personalized healthcare, which is probably the most transformational area of today's healthcare. The transaction reinforced our strategy of driving molecular diagnostics across all segments: prevention, profiling, personalized healthcare and point of need", said Ulrich Schriek, Vice President Business Development at QIAGEN. "DxS brought to QIAGEN significant pharma partnerships and experienced professionals which made a great addition to our team and to our diagnostic capabilities. The combination can help us leverage tremendous opportunities and expand our leadership position in this rapidly emerging field."
On behalf of the voting panel, Kate Silverton, BBC News anchor and Awards presenter, said: "QIAGEN has been highly acquisitive during the past 18 months, but it's most important deal was the September 2009 acquisition of DxS Ltd. With this acquisition QIAGEN has added a strong leadership position in the new era of personalized healthcare."
David Wilson, Chief Executive of Piper Jaffray, the lead sponsors of the event, said: "Congratulations to the winners, we salute each and every one of you. The winners have been the stars of 2010, working in challenging markets and responding by adapting themselves for future growth."
Personalized healthcare approaches are based on patients' molecular profiles and already play an increasingly important role for the treatment of cardiovascular and neurological diseases and - most prominently - cancer. The number of molecular markers for various therapies and indications has been increasing steadily. Today, there are already 32 genomic biomarkers identified by FDA in the context of FDA-approved drug labels. In the last ten years the market for personalized healthcare drugs exceeded US$ 13 billion, reflecting a CAGR of 24%.
QIAGEN N.V., a Netherlands holding company, is the leading global provider of sample and assay technologies. Sample technologies are used to isolate and process DNA, RNA and proteins from biological samples such as blood or tissue. Assay technologies are used to make such isolated bio-molecules visible. QIAGEN has developed and markets more than 500 sample and assay products as well as automated solutions for such consumables. The company provides its products to molecular diagnostics laboratories, academic researchers, pharmaceutical and biotechnology companies, and applied testing customers for purposes such as forensics, animal or food testing and pharmaceutical process control. QIAGEN's assay technologies include one of the broadest panels of molecular diagnostic tests available worldwide. This panel includes the digene HPV Test, which is regarded as a "gold standard" in testing for high-risk types of human papillomavirus (HPV), the primary cause of cervical cancer, as well as a broad suite of solutions for infectious disease testing and companion diagnostics. QIAGEN employs more than 3,500 people in over 30 locations worldwide. Further information about QIAGEN can be found at http://www.qiagen.com/.
Certain of the statements contained in this news release may be considered forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. To the extent that any of the statements contained herein relating to QIAGEN's products, markets, strategy or operating results are forward-looking, such statements are based on current expectations that involve a number of uncertainties and risks. Such uncertainties and risks include, but are not limited to, risks associated with management of growth and international operations (including the effects of currency fluctuations and risks of dependency on logistics), variability of operating results, the commercial development of the applied testing markets, clinical research markets and proteomics markets, nucleic acid-based molecular diagnostics market, and genetic vaccination and gene therapy markets, competition, rapid or unexpected changes in technologies, fluctuations in demand for QIAGEN's, products (including fluctuations due to the level and timing of customers' funding, budgets, and other factors), our ability to obtain regulatory approval of our infectious disease panels, difficulties in successfully adapting QIAGEN's products to integrated solutions and producing such products, the ability of QIAGEN to identify and develop new products and to differentiate its products from competitors' products, market acceptance of QIAGEN's new products and the integration of acquired technologies and businesses. For further information, refer to the discussions in reports that QIAGEN has filed with, or furnished to, the U.S. Securities and Exchange Commission (SEC).