QIAGEN announces acquisition of Ingenuity Systems, Inc for US$105 million cash.
Molecular diagnostic provider QIAGEN (Venlo, Netherlands), has recently announced the acquisition of privately held US company Ingenuity Systems, Inc (CA, USA). The company, responsible for biomedical information analysis solutions for the interpretation of genomic data, will expand and strengthen QIAGEN’s own curated database.
According to Jake Leschly, President and Chief Executive Officer of Ingenuity Systems, “Today we can sequence the entire human genome in just a couple of days for less than a thousand dollars, but the data analysis can take from months to years. The Ingenuity suite of products enables this rapid and accurate interpretation in a matter of minutes, and this is fundamentally impacting scientific research and the ability to diagnose and manage patient care.”
Ingenuity systems deploy algorithms capable of pairing all human gene variants with biological interpretations that are based on known outcomes and findings. Experts then review the pairings using sources from publications and supportive technology. Peter Schatz, Chief Executive Officer of QIAGEN, said of the acquisition, “Ingenuity has created unparalleled leadership with its knowledge base and interpretation solutions to unlock the value of complex genomic and other biological information. Combining the highest-quality knowledge content with powerful search capabilities and easy-to-use interfaces, the Ingenuity suite provides customers with scientifically and clinically relevant insights into diseases.”
The acquisition of Ingenuity by QIAGEN was funded from existing cash reserves. Looking forward, in 2013 QIAGEN are aiming to report adjusted net sales of approximately US$15 million from Ingenuity.