LONDON: Abcam plc, a global leader in the supply of life science research tools, has entered into a definitive agreement to acquire Expedeon Ltd, Innova Biosciences Ltd. and TGR BioSciences (Proteomics and Immunology business) from Expedeon AG for a cash consideration of €120 million.
Protein labelling is a large, growing market – essential to biological research in proteomics. Proteomics research requires the use of molecular labels that are covalently attached to a protein of interest to facilitate detection or purification of the protein or its binding partners.
The acquisition accelerates Abcam’s strategic ambition within the complementary antibody conjugation and labelling market, where there is high customer overlap; expands Abcam’s addressable market by leveraging Expedeon’s technologies in conjugation with Abcam’s deep expertise and experience in customer service, digital marketing and sales; and provides opportunity to combine Expedeon and Abcam’s technologies to create new value-added products to support customer needs.
Alan Hirzel, CEO of Abcam, commented: “Abcam’s growth strategy is committed to building out conjugation and assay capabilities. Expedeon’s portfolio of products and technology, combined with Abcam’s antibody and protein strengths, will put our company in a strong position to address the growing need for antibody conjugation and multiplexing solutions. We look forward to taking these innovation capabilities to market to provide a broader array of distinctive products for our customers.”