Neogen acquires Australian animal genomics laboratory

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Sep 01, 2017, 08:45 ET

LANSING, Mich., Sept. 1, 2017 /PRNewswire/ -- Neogen Corporation (NASDAQ: NEOG) announced today that it has acquired the assets of The University of Queensland Animal Genetics Laboratory (AGL) — the leading animal genomics laboratory in Australia, a country with large cattle and sheep markets.

The acquisition of AGL is intended to help accelerate the growth of Neogen's animal genomics business in Australia, New Zealand and throughout Oceania. With the acquisition, AGL will be renamed GeneSeek Australasia, and become Neogen's fourth animal genomics laboratory — joining locations in the U.S., Scotland, and Brazil.

AGL is the prominent supplier of genetic testing to all 27 of Australia's major beef cattle associations, and its services have also extended to dairy cattle, sheep, goats, alpacas and other species. The laboratory has been a significant customer of Neogen's comprehensive suite of GeneSeek genomic products. Its annual revenues are approximately $3.1 million (USD).

"AGL has excellent facilities, and an outstanding reputation with its customers, which include research institutions, breed societies, and large pastoral companies. AGL's management and scientific staff will remain with the company, and will continue their work to help Neogen grow our genomics business," said Dr. Jason Lilly, Neogen's vice president of corporate development. "Adding AGL's complementary expertise, local support, and impressive customer base strengthens our animal genomic capabilities and presence. The GeneSeek Australasia laboratory near Brisbane will provide our Australian customers the same access to the best animal genomics technology as our customers elsewhere, and also offers all the benefits of dealing directly with a well-known entity in Australia."

With both state-of-the-art animal genetic facilities and comprehensive bioinformatics to interpret genetic test results, Neogen offers animal owners unparalleled identity and trait determination and analysis. For example, Neogen can provide a cattle producer with DNA test results that can predict that animal's performance in the herd on such traits as the ability to gain weight, pregnancy rate, calving ease, and susceptibility to disease. Neogen provides veterinary genomic solutions for cattle, both beef and dairy, swine, sheep, dogs, and poultry.

Terms of the agreement were not disclosed.

Neogen Corporation develops and markets products dedicated to food and animal safety. The company's Food Safety Division markets dehydrated culture media, and diagnostic test kits to detect foodborne bacteria, natural toxins, food allergens, drug residues, plant diseases and sanitation concerns. Neogen's Animal Safety Division is a leader in the development of animal genomics along with the manufacturing and distribution of a variety of animal healthcare products, including diagnostics, pharmaceuticals, veterinary instruments, wound care and disinfectants.

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SOURCE Neogen Corporation