Agilent Technologies to Expand Biopharma Consumables Portfolio with Acquisition of ProZyme
June 28 2018 - 4:15PM
Business Wire
Highlights:
- Highly synergistic with Agilent’s
current customer-base and sales channel
- Enables complete LC and LC/MS workflow
solutions in important glycan biopharma segment
- Strengthens Agilent’s customer value
proposition in fast-growing biopharma market
Agilent Technologies Inc. (NYSE: A) today announced that it
has entered into a definitive agreement to acquire privately-held
ProZyme, Inc., a leading provider of glycan analysis reagents, kits
and standards. This acquisition will expand Agilent’s portfolio of
biopharma consumables in the fast-growing glycan market.
“Agilent is focused on being a complete workflow solutions
provider,” said Mark Doak, president of Agilent’s CrossLab Group.
“We have a strong installed base of customers worldwide, and
expanding our consumables portfolio is key to our strategy of
providing a seamless customer experience and helping our customers
reduce the cost and time required to bring new therapeutics to
market.”
Founded in 1990, ProZyme is an industry leading developer and
manufacturer of glycan reagents, kits and standards, which are
required for efficient sample prep in the analysis of free glycans.
Glycobiology, which is the study of the structure, function and
biology of carbohydrates, also called glycans, is a fast-growing
and important field of study in life sciences. Glycans play diverse
roles in biotherapeutics, novel drug development, the study of
bacterial physiology, and proteomics research.
“Glycan analysis is essential to the discovery, development, and
quality control testing of the ever-growing pipeline of
biotherapeutic drug products,” said Padraig McDonnell, vice
president and general manager of Agilent’s Chemistries and Supplies
Division. “ProZyme is a market leader and innovator in the glycan
consumable space. This acquisition provides greater scale to our
biopharma consumables business and enhances our value proposition
by enabling complete glycan liquid chromatography and mass
spectrometry workflow solutions.”
“ProZyme and Agilent make a perfect strategic fit,” said Sergey
Vlasenko, president and CEO of ProZyme. “Our glycobiology and
glycoanalysis expertise together with Agilent’s market-leading
position in LC and LC/MS will allow us to provide our biopharma
customers with complete solutions they need to accelerate their
research.”
ProZyme is headquartered in Hayward, California, and employs 47
people.
The transaction is subject to closing conditions. Financial
terms of the deal are not being disclosed.
About ProZyme, Inc.
ProZyme Inc. is a privately-owned company dedicated to advancing
glycobiology research and improving biopharmaceutical analysis for
optimal design and quality manufacturing of life saving therapies.
The company supplies value-added kits, enzymes, standards and a
complete CE system for biotherapeutic protein characterization and
glycobiology research. ProZyme’s focus on R&D and innovation
supports an agile product development program and a strong IP
portfolio. Information about ProZyme is available at
www.prozyme.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 its
customers' most challenging questions. The company generated
revenues of $4.47 billion in fiscal 2017 and employs 14,200 people
worldwide. Information about Agilent is available at
www.agilent.com.
Forward-Looking Statements
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 ProZyme transaction not being
timely completed, if completed at all, and the ability to integrate
ProZyme’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 April 30, 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.
NOTE TO EDITORS: Further technology, corporate citizenship and
executive news is available on the Agilent news site at
www.agilent.com/go/news.
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CONTACT:Ruben Dirado, +1 408-345-8971ruben_dirado@agilent.com
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