The deal adds a vendor-agnostic, FDA-cleared software platform to Agilent’s pathology portfolio and extends its reach in companion diagnostics and drug discovery.
Agilent Technologies has completed its acquisition of Proscia, a provider of digital pathology software for clinical and life sciences customers.
Agilent paid $240 million in cash at closing, with up to an additional $30 million payable if Proscia meets future performance milestones. Proscia is now part of Agilent’s Life Sciences and Diagnostics Markets Group.
“Proscia’s talented team and leading vendor-agnostic digital-pathology platform enhance our ability to support customers across clinical diagnostics, biopharma, and life-sciences research,” says Padraig McDonnell, president and CEO of Agilent, in a release. “Together, Agilent and Proscia are well positioned to advance AI-enabled pathology workflows, accelerate drug discovery and companion-diagnostics solutions, and create long-term value for customers and shareholders.”
Pairing Instruments and Reagents with Software
The transaction combines Agilent’s pathology instrumentation and reagents with Proscia’s vendor-agnostic digital pathology platform. The platform has FDA 510(k) clearance for primary diagnosis and an established customer base.
According to Agilent, Proscia’s software adds a recurring-revenue business to its pathology portfolio. The company also says the platform expands its ability to support companion diagnostics development, biopharma drug discovery, and clinical pathology workflows through AI-enabled tools and a growing repository of real-world data.
Agilent describes the deal as establishing a platform for scientific intelligence in tissue-based precision medicine.
DLA Piper LLP (US) served as legal adviser and Joele Frank served as strategic communications adviser to Agilent. Cooley LLP served as legal adviser to Proscia.
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