Qiagen buys SABiosciences
This article was originally published in The Gray Sheet
Executive Summary
Qiagen purchased the privately-held company for $90 million, adding preformatted, real-time polymerase chain reaction assay technology that can be used for the development of new diagnostics and for drug discovery and validation, the firm announced Nov. 9. SABiosciences is expected to add $24 million to Qiagen's 2010 revenues. The firm's technology targets the interaction of genes involved in diseases such as cancer and diabetes, as well as immune and cardiovascular disorders. The purchase of the Frederick, Md., firm is "highly synergistic" with Qiagen's September acquisition of personalized medicine diagnostics company DxS, Qiagen notes (1"The Gray Sheet" Sept. 28, 2009)