To access new growth opportunities and extend leadership position in antibody technology
Abcam, a supplier of life science research tools, is to acquire AxioMx, an American antibody technology firm, for US$25m.
The firm, based in Cambridge, UK has agreed the deal and will pay $20m to AxioMx with further performance payments of up to $5m over five years.
The deal is expected to be completed by the end of this month.
AxioMx was founded in 2012 by Dr Michael Weiner and Christopher McLeod and is based in Branford, Connecticut, US. It has created a powerful and scalable in vitro recombinant monoclonal antibody technology which complements Abcam’s existing antibody and immunoassay capabilities by targeting growing markets that traditional in vivo antibody production methods struggle to address. In addition to opening new markets, AxioMx’s antibody and binder development capabilities mean that high quality antibodies can be produced within weeks, which is significantly faster than in vivo methods.
The company currently provides access to its technology as a service to research institutes as well as diagnostics and therapeutics organisations.
As part of the integration with Abcam, AxioMx will be re-focused to develop recombinant antibodies for inclusion in the Abcam catalogue.
After an initial period of investment and production scale up, AxioMx is expected to contribute both to revenue growth and profitability in the next few years.
Alan Hirzel, CEO of Abcam said: 'The acquisition of AxioMx is in line with our strategy of acquiring businesses which enable Abcam to increase the supply of high quality products generated from our own innovation, and allows us to respond more quickly to our customers’ needs.
'After an extensive review of alternate scaffold and other in vitro technologies, we are confident that AxioMx has created unique, high quality and economically attractive methods to serve customers in research, diagnostic and drug discovery labs globally.'