Enzymatics has acquired ArcherDx, developer of next-generation sequencing-based kits and software solutions for use in investigating cancer treatment, for up to $50m in cash, equity, and potential milestone payments.
With the acquisition, Enzymatics adds genomic capabilities that complement its existing product lines.
Enzymatics president and CEO Jon DiVincenzo said: "We are seeing double-digit growth in the placement of new sequencers every year and broad adoption of genomic technologies across clinical communities.
"We are also truly excited to welcome Jason and his team of scientists and bioinformatics researchers to our rapidly growing company."
The deal also expands the new Enzymatics Diagnostics groups with technology, kits, and analytical solutions for hospitals, research institutions, and other diagnostic providers for the rapid and cost-effective assessment of genetic biomarkers.
As part of the transaction, ArcherDx co-founder and CEO Dr Jason Myers will join Enzymatics as chief scientific officer.
Prior to founding ArcherDx, Dr Myers held various positions at Ion Torrent by Life Technologies.
Dr Myers facilitated the launch of the first PGM Systems and managed customer relationships to collaboratively improve the PGM sequencing workflow and technology during his tenure at Ion Torrent.
Dr Myers said Enzymatics is an ideal fit for ArcherDx as extremely high quality reagents are required for the company’s products.
"We have also brought quality assurance and several supply chain steps together to create a dependable and consistent experience for our customers," Dr Myers added.