ASU Spin-Out Company Acquired by Agilent Technologies

Kimberly Ovitt, Director of Communication & Institutional Advancement
(480)727-8688 | kimberly.ovitt@asu.edu

In a celebratory event held at the Biodesign Institute, Agilent Technologies, Inc., announced it has acquired ASU spin-out company Molecular Imaging Corporation. The company, which is a leading developer of atomic force microscopes and scanning probe microscope systems, was founded in 1993 by ASU professors Stuart Lindsay and Tianwei Jing. Lindsay now directs the Center for Single Molecule Biophysics at the Biodesign Institute. Jing leads the R&D team at Molecular Imaging.

Dr. Stuart Lindsay Director, Center for Single Molecule Biophysics   Atomic Force Microscopy image of DNA

The company has had a continuous relationship with ASU and Lindsay’s laboratory since then. Because of the strong ties between Molecular Imaging and ASU, Agilent leaders said they have no plans to move Molecular Imaging operations from the Tempe area. Molecular Imaging employees have joined Agilent.

“This is an example of how the research growth strategies put in place by President Michael Crow benefit the Valley’s biotech sector development as well as ASU,” said Lindsay.

Biotechnology companies typically locate where there are strong university research programs. These companies look to universities not just to produce a qualified work force, but to generate discoveries and innovative technologies that they can license. Over the past three years, ASU has implemented several critical strategies aimed at launching ASU into the ranks of a premier research university. ASU is developing more than 1 million sq. ft. of new research capacity, and it has adopted an entrepreneurial research thrust to help drive the growth of the biotechnology sector in Arizona. Such growth supports state and Valley initiatives to create a strong biosciences sector and more diversified economy.

While a major research program such as the Biodesign Institute represents an important source of innovation for local companies, the university’s technology transfer expertise provides a rapid means of accessing this innovation. In 2003, ASU transformed its former intellectual property office into a more robust technology transfer and commercialization operation called Arizona Technology Enterprises (AzTE). AzTE is currently ranked in the top ten university technology transfer offices nationally under a variety of criteria, including the number of inventions disclosed per $1 million spending on research, number of start-up companies formed per $10 million spending on research, and number of U.S. patent applications filed per $1 million spending on research.

Agilent Technologies, Inc. is a global technology company operating in the areas of communications, electronics, life sciences and chemical analysis. Agilent acquired Molecular Imaging for its advanced technology in atomic force microscopy (AFM). Called the "eyes of nanotechnology," AFMs are used to measure the shape and properties of materials at the nanoscale. AFM’s represent a significant portion of the $1 billion nanotechnology measurement tool market.

"Molecular Imaging has premier AFM technology that is the high-performance value leader in the market," said Bob Burns, vice president of Agilent's Nanotechnology Measurements Division. He said the acquisition complements Agilent’s core strength of measurement technology while growing its presence in nanotechnology.  Agilent employs 27,000 employees who serve customers in more than 110 countries, and had a net revenue of $5.1 billion in fiscal year 2005. Molecular Imaging’s 40 employees have joined the Agilent team.