QIAGEN and Bio*One Capital Enter into Joint Venture to Develop Molecular Diagnostics Products
Assay development centre for Singapore will support QIAGEN's global leadership expansion in the market for molecular testing solutions
"The in-depth expertise and talent pool in biomedical research makes Singapore an ideal location for a centre for assay development", said Peer Schatz, CEO of QIAGEN. "This joint venture brings to QIAGEN further resources to contribute to our goal to further broaden our global portfolio of molecular testing solutions, to further accelerate our development speed and to expand our market and technology leadership in this fastest growing segment of diagnostics. Together with Bio*One, we will support this new venture's expansion into what we expect to be one of the world's premier suppliers of molecular diagnostic assay development solutions to major pharmaceutical and biotech companies. We look forward to this significant increase of our assay development capacities and capabilities which currently includes assay development teams in Hamburg, Gaithersburg / Maryland and Shenzhen."
"Bio*One Capital is pleased to enter into this venture with QIAGEN to establish Singapore's first commercial entity that focuses on the development of molecular diagnostics," said Swee-Yeok Chu, CEO of Bio*One Capital. "Molecular diagnostics is a fast-growing and exciting field that increasingly impacts how diseases are detected and treated. Dx Assays will benefit tremendously from QIAGEN's leading technological expertise and market presence in this sector. The company will also collaborate with research institutes and hospitals in this field and bring a strong commercial perspective to the ongoing research activities here. This combination of resources will enable Dx Assays to be a leading player in the field of molecular diagnostics."
The new Singapore venture is QIAGEN's latest step in the expansion of its presence in the rapidly growing Asian markets. With growth rates of up to 60%, Asia today is the Company's fastest growing sector, with Singapore taking significant market share. QIAGEN's strategic expansion into the region began in 2005. Today QIAGEN maintains 12 Asian offices with approximately 300 employees, including more than 50 in Singapore. Including the subsidiary in Japan, they contribute approximately 10 per cent to QIAGEN's overall net sales.
Molecular assays are used to make rare target material in samples, such as genetic material, visible. These technologies include open assays (reagents) for the detection of DNA- and RNA sequences as well as target specific assays to detect the presence of, for instance, specific pathogens. QIAGEN's portfolio of molecular diagnostic assays is the broadest in the world in the segment of infectious disease diagnostics and includes the only test for the Human Papillomavirus (HPV), which has both FDA and CE-approvals.
About Bio*One Capital
Bio*One Capital is a leading, dedicated biomedical sciences investment management company in Asia with a worldwide presence. Bio*One Capital's investments are focused on promising global biomedical companies where Bio*One Capital can play a value adding role in bridging and supporting companies' growth strategies in Asia through their operations in Singapore. Bio*One Capital offers a strong combination of financial, business, scientific and investment know-how to enhance the value of companies from intellectual property generating research, to clinical and product development, manufacturing and commercial activities. Through its extensive networks with global pharmaceutical, biotechnology, medical technology companies and venture capital corporations, Bio*One Capital proactively facilitates partnering and collaborative opportunities to help its portfolio companies grow into sustainable and successful ventures. For more information, please visit http://www.bio1capital.com
Certain of the statements contained in this news release may be considered forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. To the extent that any of the statements contained herein relating to QIAGEN's products, markets, strategy or operating results are forward-looking, such statements are based on current expectations that involve a number of uncertainties and risks. Such uncertainties and risks include, but are not limited to, risks associated with management of growth and international operations (including the effects of currency fluctuations and risks of dependency on logistics), variability of operating results, the commercial development of the applied testing markets, clinical research markets and proteomics markets, nucleic acid-based molecular diagnostics market, and genetic vaccination and gene therapy markets, competition, rapid or unexpected changes in technologies, fluctuations in demand for QIAGEN's, products (including fluctuations due to the level and timing of customers' funding, budgets, and other factors), our ability to obtain regulatory approval of our infectious disease panels, difficulties in successfully adapting QIAGEN's products to integrated solutions and producing such products, the ability of QIAGEN to identify and develop new products and to differentiate its products from competitors' products, market acceptance of QIAGEN's new products and the integration of acquired technologies and businesses. For further information, refer to the discussions in reports that QIAGEN has filed with, or furnished to, the U.S. Securities and Exchange Commission (SEC).
QIAGEN N.V., a Netherlands holding company, is the leading provider of sample and assay technologies. Sample technologies are used to isolate and process DNA, RNA, and proteins from biological samples such as blood or tissue. Assay technologies are used to make such isolated biomolecules visible. QIAGEN has developed and markets more than 500 consumable products as well as automated solutions for such consumables. The company provides its products to molecular diagnostics laboratories, academic researchers, pharmaceutical and biotechnology companies, and applied testing customers for purposes such as forensics, animal or food testing, and pharmaceutical process control. QIAGEN's assay technologies include what is considered to be the broadest panel of molecular diagnostic tests available worldwide. This panel includes the only FDA-approved test for human papillomavirus (HPV), the primary cause of cervical cancer. QIAGEN employs more than 2,800 people in more than 30 locations worldwide. Further information about QIAGEN can be found at http://www.qiagen.com/.