LONDON: Abcam, a global innovator in life science reagents and tools, announced the acquisition of the entire live cell line and lysates portfolio of EdiGene Inc, a leading company focused on developing genome editing technologies into novel therapeutics for a broad range of diseases and into creative solutions to advance drug discovery.
Financial terms of the transaction have not been disclosed and are expected to have a minimal impact on revenue and earnings in the current financial year.
Commenting on the acquisition, Cheri Walker, SVP of Corporate Development at Abcam, said: “We are excited to be able to bring the same level of industry-leading quality and data to the cell lines market as we have to research antibodies. The cell line market is in the early stages of development as a research tool, where the provision of more choice, with the right gene targets in the right cell lines, will allow the market to rapidly expand.”
Dong Wei, CEO of EdiGene, commented: “Following our strategic decision to focus on advancing our pipeline of biotherapeutic products and high-throughput genome screening services, we are pleased to be transitioning our complete cell line portfolio to the team at Abcam. As recognised industry leaders in the provision of biologic reagents and tools, we are confident Abcam will be able to provide expert support to our global user-base.”
The lysate range is expected to be available through the Abcam website in early Q4 2019, with the expanded cell line offering following throughout 2020. In addition, these products will be used to support further knock-out antibody validation, an integral part of Abcam’s on-going antibody quality initiative.