March 3, 2021—Agilent Technologies announced it has entered into a definitive agreement to acquire Resolution Bioscience, a next-generation-sequencing–based technology company. Agilent will pay $550 million in cash at closing and up to an additional $145 million based on achieving future performance milestones.
Resolution Bioscience’s noninvasive liquid biopsy assay platform supports the biopharma services market and the clinical oncology diagnostic testing market. The platform has been designed for a centralized CLIA test service and a distributable kit format. The company’s homologous recombination deficiency assay received breakthrough device designation from the FDA.
“We are extremely pleased to add Resolution Bioscience’s outstanding team and powerful technology to Agilent’s growing business in precision oncology solutions,” Mike McMullen, Agilent president and CEO, said in a press release. “By adding Resolution Bioscience’s liquid biopsy-based diagnostic technologies to our portfolio, we are strengthening Agilent’s offering to our biopharma customers and boosting the growth of our diagnostics and genomics business. This also accelerates our strategy to broaden access to precision oncology testing for patients worldwide through distributed NGS-based diagnostic kits.”
Resolution Bioscience was founded in 2012 and is based in Kirkland, Wash. The transaction is expected to close in April, subject to regulatory approvals and customary closing conditions.