Agilent Announces Acquisition of Avida Biomed, Developer of High-Performance NGS Target Enrichment Workflows for Cancer Research
January 04 2023 - 8:45AM
Business Wire
Innovative chemistries enable simultaneous
genomic and epigenomic profiling on the same sample, yielding
greater insights for precision medicine
Agilent Technologies Inc. (NYSE: A) today announced the
acquisition of Avida Biomed, an early-stage life sciences company
that develops high-performance target enrichment workflows with
unique capabilities for clinical researchers utilizing
next-generation sequencing (NGS) approaches to study cancer.
The acquisition complements Agilent’s market-leading SureSelect
portfolio and further augments Agilent’s strategy to expand into
the high-growth clinical research and diagnostics markets. The
chemistries and assays from Avida Biomed are compatible with
Agilent’s automation platforms including Magnis and Bravo, which
will facilitate efficient scaling of research experiments and
routine sample testing.
Avida Biomed’s innovative genomics tools enable simultaneous
genomic and DNA methylation profiling from a single sample without
compromising sensitivity or specificity. The company’s streamlined
assay protocol, which also includes library preparation, can be
completed in a single shift enabling fast turnaround of assay
results. This automatable workflow has been validated for use with
various sample types including liquid biopsy, which has some of the
most demanding performance specifications.
“The team of talented scientists and genomics industry veterans
at Avida Biomed have created a best-in-class toolset that is highly
complementary to Agilent’s existing NGS offerings,” said Sam Raha,
president of Agilent’s Diagnostics and Genomics Group. “We are
thrilled to welcome the Avida Biomed team to Agilent. We’re also
very excited to be able to bring these powerful tools to our
oncology customers around the world who are working to improve the
understanding of cancer and the diagnosis and treatment of cancer
patients.”
Avida Biomed’s technology will enable scientists working in
precision medicine to develop new approaches for a variety of
applications including biomarker discovery, patient selection for
clinical trials, diagnosis and prognosis, therapy selection, and
disease recurrence.
“We are honored and excited to join forces with Agilent to bring
our technology to market,” said Shengrong Lin, CEO of Avida Biomed.
“Target enrichment is key to conducting an in-depth analysis of
gene targets of interest. We look forward to combining our
resources and expertise to make our tools and techniques widely
available to clinical researchers across the globe.”
About Agilent Technologies
Agilent Technologies Inc. (NYSE: A) is a global leader in the
life sciences, diagnostics, and applied chemical markets,
delivering insight and innovation that advance the quality of life.
Agilent’s full range of solutions includes instruments, software,
services, and expertise that provide trusted answers to our
customers' most challenging questions. The company generated
revenue of $6.85 billion in fiscal 2022 and employs 18,000 people
worldwide. Information about Agilent is available at
www.agilent.com. To receive the latest Agilent news, subscribe to
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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 the acquisition brings and the assets’ future uses.
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, unforeseen changes in the strength
of Agilent’s customers’ businesses; unforeseen changes in the
demand for current and new products, technologies, and services;
unforeseen changes in the currency markets; customer purchasing
decisions and timing; and the risk that Agilent is not able to
realize the savings expected from integration and restructuring
activities. 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 its
cost-cutting initiatives will impair its ability to develop
products and remain competitive and to operate effectively; the
impact of geopolitical uncertainties and global economic conditions
on its operations, its markets and its ability to conduct business;
the ability to improve asset performance to adapt to changes in
demand; the ability of its 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; the adverse
impacts of and risks posed by the COVID-19 pandemic; and other
risks detailed in Agilent’s filings with the Securities and
Exchange Commission, including its annual report on Form 10-K for
the fiscal quarter ended October 31, 2022. 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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Sarah Litton +1 669 255 7696 sarah.litton@agilent.com
Agilent Technologies (NYSE:A)
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