CAMBRIDGE, UK: Abcam plc, a global leader in the supply of life science research tools, has entered into a definitive agreement to acquire BioVision Inc., a wholly owned subsidiary of Boai NKY Medical Holdings Ltd., for $340 million, a news release said.
Founded in 1999 and located in Milpitas, California, BioVision is a global supplier of life science research tools to support research, diagnostics, and drug discovery. The company is a leading provider of biochemical and cell-based assays for biological research. It also develops, produces, and sells a wide portfolio of other products including recombinant proteins, antibodies, enzymes, and biochemical compounds.
BioVision started supplying Abcam in 2003. Abcam customers’ demand for BioVision products has grown consistently over time, with sales more than doubling over the past five years (to June 2021).
The acquisition of BioVision represents a compelling strategic fit for Abcam, with potential to:
· bring greater control over the innovation and distribution of BioVision’s product portfolio
· accelerate our strategic ambitions within the adjacent biochemical and cellular assay market
· align with existing areas of research focus including oncology, immuno-oncology, neuroscience, and epigenetics
· create value through portfolio expansion and leveraging Abcam’s global channels to market
· create opportunities to enhance existing products and innovate new products to serve customer needs
Concurrent with the Acquisition, Abcam and NKY have also entered into a memorandum of understanding regarding the establishment of a collaborative, commercial partnership under which Abcam will develop and supply products and services to NKY in support of their ongoing product development and commercialisation in the IVD field.
Commenting on the Acquisition, Alan Hirzel, CEO of Abcam, said: “We know the BioVision business well, having been a major distributor of their products since 2003. This acquisition represents a compelling opportunity to secure a proven portfolio of high-quality products, including a leading portfolio of biochemical and cell-based assay kits, that will allow us to better serve customer needs.
BioVision has sustained strong growth over many years and, together with Abcam’s brand, reach and capabilities, we are confident we are well positioned to build on this success and reinforce Abcam’s ability to serve life scientists globally.”
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30 Jul, 4:35 pm GMT+1 ·Disclaimer