Sequenom Acquires SensiGen Assets, Drops EXACT Sciences Bid
In contrast to Sequenom’s acquisition offer, under the agreement with Genzyme, EXACT retains exclusive worldwide rights to its colorectal cancer screening and stool-based DNA testing intellectual property, and receives a share of Genzyme’s sublicensing income derived from the purchased intellectual property outside the fields of prenatal and reproductive health. Nonetheless, the bid, as well as the acquisition of the AttoSense assets, further confirm Sequenom’s commitment to the diagnostics market.
Marlborough, MA 1/26/09; San Diego, CA and Ann Arbor, MI 1/26/09; San Diego, CA 1/27/08; San Diego, CA 1/28/09—Sequenom has terminated its bid for diagnostics firm EXACT Sciences (see IBO 1/15/09), following Genzyme’s acquisition of certain intellectual property assets held by EXACT related to the fields of prenatal and reproductive health and three million shares of EXACT common stock. Sequenom had stated that it would terminate the offer if EXACT Sciences entered into any other agreements. Sequenom has also acquired the AttoSense portfolio of tests and other assets from SensiGen for $8.7 million, including future earn-out milestone payments. In partnership with Sequenom, SensiGen had been developing gene-based molecular tests with diagnostic potential. The acquisition involves detection and monitoring assays for HPV, cervical cancer and other diseases that utilize Sequenom’s MassARRAY platform. “This acquisition is highly synergistic given our ability to rapidly bring these fully developed assets to market as laboratory developed tests (LDTs) via the Sequenom Center for Molecular Medicine in the near-term and potentially as in vitro diagnostics in the future,” stated Harry Stylli, PhD, president and CEO of Sequenom.
