Agilent Technologies Inc., has agreed to acquire Resolution Bioscience Inc., a developer of commercialization of next-generation sequencing (NGS)-based precision oncology solutions. Agilent expects the acquisition to expand its services in NGS-based cancer diagnostics and provide the company with technology to further meet the needs of the precision medicine market. Under the terms of the agreement, Agilent will pay $550 million in cash at closing and up to an additional $145 million based on achieving future performance milestones.
“We are extremely pleased to add Resolution Bioscience’s outstanding team and powerful technology to Agilent’s growing business in precision oncology solutions,” said Mike McMullen, Agilent president and CEO. “By adding Resolution Bioscience’s liquid biopsy-based diagnostic technologies to our portfolio, we are strengthening our offering to our biopharma customers and boosting the growth of our diagnostics and genomics business. This also accelerates our strategy to broaden access to precision oncology testing for patients worldwide through distributed NGS-based diagnostic kits. We look forward to Resolution Bioscience joining with us to expand our work in the fight against cancer.”
“Agilent’s broad expertise, global regulatory and commercial infrastructure, extensive partnerships with biopharma companies, and decades-long leadership in precision medicine will enhance and accelerate our groundbreaking work,” said Mark Li, Resolution Bioscience president and CEO. “We are excited to further expand the use of NGS in precision oncology for clinical diagnostics as part of the Agilent team.”