CAMBRIDGE, UK: Abcam plc, a global leader in the supply of life science research tools, has completed its acquisition of BioVision Inc from Boai NKY Medical Holdings Ltd. for total consideration of $340 million.
The acquisition accelerates execution of Abcam’s strategic growth plan, enhancing in-house innovation and adding scale in the complementary biochemical and cellular assay markets.
Lazard acted as financial adviser, and Latham & Watkins LLP acted as legal advisor to Abcam in relation to this transaction.
Commenting on the completion of the Acquisition, Alan Hirzel, CEO of Abcam, said: “We are delighted to have completed this transaction and welcome our new colleagues to Abcam. Bringing BioVision’s product portfolio and capabilities into Abcam, particularly its strengths in biochemical and cell-based assays, will further enhance our ability to support life scientists globally.”
As previously announced, the most recently audited results of BioVision for the 12 months ended 31 December 2020, were revenues of $33.8 million (of which approximately 25% were sold to Abcam), operating profit of $12.6 million and Net assets of $21.9 million. Revenues included approximately $5 million of COVID-19 related product sales which are not expected to recur. The Acquisition is expected to be accretive to adjusted earnings per share (EPS) from the first full year of ownership (fiscal year ending December, 2022.)
As an innovator in reagents and tools, Abcam’s purpose is to serve life science researchers globally to achieve their mission, faster. Providing the research and clinical communities with tools and scientific support, the Company offers highly validated antibodies, assays and other research tools to address important targets in critical biological pathways.
Already a pioneer in data sharing and ecommerce in the life sciences, Abcam’s ambition is to be the most influential company in life sciences by helping advance global understanding of biology and causes of disease, which, in turn, will drive new treatments and improved health.
Abcam’s worldwide customer base of approximately 750,000 life science researchers uses Abcam’s antibodies, reagents, biomarkers and assays. By actively listening to and collaborating with these researchers, the Company continuously advances its portfolio to address their needs. A transparent programme of customer reviews and datasheets, combined with an industry-leading validation initiative, gives researchers increased confidence in their results.
Founded in 1998 and headquartered in Cambridge, UK, the Company has served customers in more than 130 countries. Abcam’s ordinary shares are listed on the London Stock Exchange (AIM: ABC) and its American Depositary Shares (ADSs) trade on the Nasdaq Global Market (Nasdaq: ABCM).