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QIAGEN (QGEN) Launches QIAcube Connect MDx Platform Globally

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Zacks Equity Research
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QIAGEN N.V. QGEN announced the launch of QIAcube Connect MDx platform for automated sample processing in molecular diagnostic laboratories. The platform will now be available in the United States and Canada, the European Union and other markets globally.

Notably, the QIAcube Connect MDx with diagnostic and research protocols can be used together with QIAGEN’s gold standard QIAamp DSP kits and PAXgene Blood RNA extraction kits. The automated platform is a latest instrument from the QIAcube product line carrying in-vitro diagnostic applications (IVD) that tests samples taken from the human body.

This development will strengthen QIAGEN’s automated instrument segment.

More in the News

The latest QIAcube Connect MDx platform is built on the successful installation of more than 9,800 instruments of the QIAcube instrument portfolio. This clinical expansion enhances QIAGEN’s automated sample portfolio led by the QIAsymphony flagship system.

Significance of the Launch

The new QIAcube Connect MDx enhances safety of lab-process with a complete IVD system, which can also be used to prepare SARS-CoV-2 and other viral samples for diagnostic testing.

QIAcube Connect MDx fully automates protein sample processing, which ensures efficient processes, enhances reproducibility with less human error, and reduces applied time. The latest automated QIAcube connect MDx also enables lab technicians to track their instrument’s status remotely with QIAsphere App.

The fully-automated QIAcube connect MDx platform will help researchers avoid repetitive and costly manual processing by allowing laboratories to automate the first steps of molecular diagnostic workflows through the use of QIAGEN’s spin column technologies for DNA, RNA and protein sample processing.

Recent Developments

In February 2021, QIAGEN extended partnership with INOVIO Pharmaceuticals with a new collaboration agreement to develop liquid biopsy-based companion diagnostic products based on next-generation sequencing technology to complement INOVIO’s therapies. The collaboration is focused on the development of a diagnostic test that identifies women who are most likely to benefit from clinical use of VGX-3100.

During the month, QIAGEN launched QIAGEN Digital Insights Partnership program for genomic vendors with five initial partnerships to expand customer access and deliver extended genomic solutions for scientists and clinicians. The first group of five new partnerships involves DNAnexus, GNS Healthcare, Personal Genome Diagnostics, ThermoFisher Scientific and the Wellcome Sanger Institute.

Industry Prospects

Per a report by MarketsandMarkets, the global molecular diagnostics market size is projected to reach $1.54 billion by 2023 from $ 7.71 billion in 2018, at a CAGR of 8.4%. To tap into the potential of this growing market, QIAGEN is developing advanced technologies for sample processing to help customers gain valuable insights into samples.

Price Performance

Shares of the company have gained 21.7% in a year’s time compared with the industry’s growth of 10.6%.

Zacks Rank and Key Picks

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

A few better-ranked socks from the broader medical space are Acorda Therapeutics, Inc. ACOR, Atea Pharmaceuticals, Inc. AVIR and Clearside Biomedical, Inc. CLSD, each carrying a Zacks Rank #2 (Buy). You can see the complete list of Zacks #1Rank (Strong Buy) stocks here.

Acorda Therapeutics has a projected long-term earnings growth rate of 23%.

Atea Pharmaceuticals has a projected long-term earnings growth rate of 164%.

Clearside Biomedical has an estimated long-term earnings growth rate of 24%.

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