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Illumina acquires Advanced Liquid Logic
SAN DIEGOŚIllumina, Inc. has announced the acquisition of Morrisville, N.C.-based Advanced Liquid Logic, a liquid handling solutions provider. Following the transaction, Advanced Liquid Logic is now a wholly owned subsidiary of Illumina. No financial details for the transaction were disclosed.
Advanced Liquid Logic has developed proprietary "digital microfluidics" technology based on electrowetting that can manipulate small droplets within a sealed disposable cartridge to perform complex laboratory protocols. With this technology, the company has developed methods for a variety of bioassay protocols making use of microfluidics, including qPCR, RT-qPCR, DNA sequencing with a sequencing-by-synthesis method, sample preparation from a range of different sample types, fragment library preparation for next-generation sequencing and protein analysis utilizing enzymatic and immunoassay techniques. Advanced Liquid Logic's offerings provide a new method for precise handling of low sample volumes.
"For our research customers, ALL's technology will further streamline the industry's simplest NGS workflow, while for clinical and applied markets, where ease of use and consistency are especially valued, it will allow us to offer integrated, end-to-end solutions," Christian Henry, senior vice president and general manager of Illumina's Genomic Solutions business, said in a press release. "ALL brings an impressive IP portfolio in digital microfluidics and a talented team with a track record of innovation."
Advanced Liquid Logic is also working on a unit for lysosomal storage enzyme analysis. The LSD-100, a bioassay automation platform that can simultaneously perform four enzymatic activity assays on 40 dried blood spot extracts along with four controls and four calibrators. The unit is a bench-top instrument with a small space footprint that combines speed and cost-effectiveness for users analyzing lysosomal storage enzyme activity in dried blood spot extracts. The LSD-100 is meant for research use only, and is not intended for use in diagnostic procedures.
This transaction is the second notable acquisition made by Illumina so far this year, following its acquisition of Verinata Health, Inc., a provider of non-invasive tests for early identification of fetal chromosomal abnormalities, in February. Like Advanced Liquid Logic, Verinata is now a wholly owned Illumina subsidiary.
Illumina announced its Q2 financial results the same day as its acquisition of Advanced Liquid Logic, and adjusted its financial guidance for fiscal year 2013. The company saw revenue of $346 million for the quarter, up 23 percent over the $281 million reported in the same quarter last year. GAAP net income was $36 million, or 26 cents per diluted share, and the company saw cash flow from operations of $89 million and free cash flow of $77 million for the second quarter. Illumina is expecting, for fiscal year 2013, revenue growth of approximately 20 percent and non-GAAP earnings per fully diluted share of $1.68 to $1.72, which includes the impact of its acquisitions of Advanced Liquid Logic and Verinata.