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QIAGEN (QGEN) & Verogen Team Up to Employ NGS-Based Forensics

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QIAGEN N.V. (QGEN - Free Report) recently announced commercialization collaboration with Verogen to provide tools and support for human identification (HID) workflows in laboratories. Notably, the financial terms of the deal were kept under wraps.

Verogen and QIAGEN will also work together to commercialize a menu of forensically validated workflows for next-generation sequencing (NGS) that combine Verogen’s library-prep products with QIAGEN’s QIAseq products, automation solutions and expertise.

The collaboration is likely to expand QIAGEN’s forensic position and NGS-based solutions offering.

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The deal will expand QIAGEN’s forensics leadership that already covers sample collection and preparation, genetic testing analysis and workflow automation by enabling QIAGEN to provide Verogen’s preeminent HID sequencing and analysis solutions that run on MiSeq FGx sequencers from Illumina.

The agreement grants QIAGEN the rights to distribute the Verogen portfolio worldwide, including kits based on the proprietary Verogen ForenSeq assay -- the Verogen MiSeq FGx Sequencing System and the Universal Analysis Software. Notably, QIAGEN will market Verogen products together with its portfolio of forensics instruments, kits and services globally.

Significance of the Collaboration

The partnership will bring together QIAGEN’s leading portfolio of Sample to Insight solutions with Verogen’s innovative NGS workflows. The collaboration will drive the adoption of NGS in HID as it will enable customers to gain better insights from their casework samples and eventually strengthen decision-making systems all over the world.

 

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The combination of Verogen’s industry-leading NGS-based product portfolio with QIAGEN’s gold-standard extraction, assay and automation solutions will accelerate adoption and use of NGS in forensics.

Industry Prospects

Per a report by Fortune Business Insights, the global next-generation sequencing market size was valued at $6.33 billion in 2018 and is projected to reach $31.41 billion by 2026, at a CAGR of 22.2%.

Rising prevalence of chronic diseases, increased research and diversified application of NGS in diagnostics are driving the market.

Recent Developments

In June 2021, QIAGEN launched QIAprep& CRISPR Kit and CRISPR Q-Primer Solutions that enable researchers to explore edited genetic material with unparalleled speed and efficiency. The new products are an addition to the array of QIAGEN products that could also be used for CRISPR research such as the QIAGEN EndoFree Plasmid Kits and Plasmid Plus Kits.

In April 2021, QIAGEN announced the upcoming launch of the EZ2 Connect product line -- a next-level automated sample-processing platform for automated sample processing in biomedical research, forensics and clinical diagnostics. The EZ2 Connect instruments utilize pre-filled cartridges and magnetic bead technology to process up to 24 samples simultaneously within 20 minutes, ensuring process safety and efficiency of nucleic acid extraction.

Price Performance

Shares of the company have gained 15.3% in a year’s time against the industry’s fall of 1%.

Zacks Rank and Key Picks

Currently, the company carries a Zacks Rank #3 (Hold).

A few better-ranked stocks from the broader medical space are Envista Holdings Corporation (NVST - Free Report) , BellRing Brands, Inc. (BRBR - Free Report) and IDEXX Laboratories, Inc. (IDXX - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of Zacks #1 Rank (Strong Buy) stocks here.

Envista Holdings has an estimated long-term earnings growth rate of 26%.

BellRing Brands has an estimated long-term earnings growth rate of 22%.

IDEXX Laboratories has a projected long-term earnings growth rate of 20%.

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