WaferGen Acquisition Targets Major Presence in NGS Sample Prep Market
WaferGen Biosystems acquired the next-generation sequencing library preparation business from IntegenX. The company took over all of the assets of IntegenX’ product line used in connection with developing, manufacturing, marketing, and selling instruments and reagents relating to library preparation for NGS, including the Apollo 324™ instrument and PrepX® reagents. The deal included an up-front cash payment of $2.0 million, a $1.25 million secured promissory note, up to three earn-out payments payable based on revenue thresholds, and WaferGen’s assumption of certain liabilities related to the acquired business.
“We are very excited about adding IntegenX' NGS library prep business to our product portfolio. It is highly synergistic with our existing products, especially our NGS target enrichment SmartChip TE™ offering,” said Ivan Trifunovich, president and CEO of WaferGen Bio-systems. “Serving the same customer base, the two products together address a wide spectrum of customer needs in sample preparation for NGS and enable one-stop shopping for laboratories performing targeted sequencing.”
According to marketsandmarkets.com, NGS is the fastest-growing and most lucrative segment in the genomics space with an estimated growth of 16.3%. The firm recently published a study which reported that the global NGS market was valued at $1.3 billion in 2012 and is poised to reach $2.7 billion by 2017.