Enzymatics, an enzyme producer looking to expand a new specialty in diagnostics, said today it acquired ArcherDx for up to $50 million in cash, equity, and potential milestone payments.
The deal allows Enzymatics—which supplies reagents, kits, and assays used in life sciences research and patient diagnosis—to add what it deems the complementary genomic capabilities of ArcherDx, which develops NGS-based kits and software for use in investigating cancer treatments. Those capabilities, the companies said, include improvements in copy number variation and translocation analyses, as well as the prospect of more cost-effective healthcare by obtaining results quicker.
Enzymatics said the deal will expand its new enzymatics diagnostics group with technology, kits, and analytical software designed to provide hospitals, research institutions, and other diagnostic providers with faster and less expensive detection and assessment of genetic biomarkers.
Jon DiVincenzo, Enzymatics’ president and CEO, said in a statement the combined company is looking to bring new sequencing applications more directly to clinical researchers. He said Enzymatics already sells reagents and kits to about 80% of the NGS industry.
Jason Myers, Ph.D., ArcherDx’ co-founder and CEO, will join Enzymatics as its CSO as part of the deal, the companies said. He started the company last year after holding several positions with Ion Torrent/Life Technologies, most recently as a group leader managing a cross-functional product development team focused on collaborations with leading customers.
“Enzymatics is an ideal fit for ArcherDx as extremely high-quality reagents are required for our products,” Dr. Myers said. “We have also brought quality assurance and several supply chain steps together to create a dependable and consistent experience for our customers.”
Based in Beverly, MA, Enzymatics has ISO 13485:2003 certification as a manufacturer of enzymes, which it says are sold at list prices consistently 70–90% lower than those of leading global enzyme suppliers. The company was founded in 2006 to address the needs of commercial entities that develop, manufacture, and distribute nucleic acid identification platforms.