Enzymatics Inc., a Beverly diagnostics company, said it has acquired Colorado-based ArcherDx, Inc., a developer of kits and software solutions for use in investigating cancer treatment.
The deal consists of cash, equity, and potential milestones worth up to $50 million, Enzymatics said in a press release.
For Enzymatics, the acquisition adds genomic capabilities that complement Enzymatics existing product lines.
“An unprecedented growth in genomics for health care is fueling greater demand for faster, more accurate, and more cost effective sequencing applications,” Enzymatics president and chief executive Jon DiVincenzo said in a statement. “We are seeing double-digit growth in the placement of new sequencers every year and broad adoption of genomic technologies across clinical communities. Enzymatics, which already supplies reagents and kits to approximately 80 percent of the NGS (next-generation sequencing) industry, together with ArcherDx, will bring novel sequencing applications more directly to clinical researchers.”
Jason Myers, cofounder and chief executive of ArcherDx, has joined Enzymatics as chief scientific officer.
According to the Enzymatics website, the production of next generation sequencing data requires the preparation of high-quality DNA libraries. Enzymatics has developed novel, room temperature stable library construction kits for several sequencing platforms.