Abcam to acquire Expedeon's proteomics and immunology business

11 November 2019

Cambridge, UK-based life sciences firm Abcam (AIM: ABC) has entered into a definitive agreement to acquire the proteomics and immunology business, comprising of Expedeon Ltd, Innova Biosciences Ltd and TGR BioSciences from Germany’s Expedeon (ETR: EXN), for a cash consideration of 120 million euros ($132.2 million).

News of the deal sent Expedeon’s shares soaring more than 33% to 1.66 euros in early afternoon trading, while Abcam dipped 1.1% to 1,237 pence.

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.

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