Abcam to buy Epitomics for $170 million

6 March 2012

In a second acquisition within six months, UK-based protein research tools supplier Abcam (AIM: ABC) has entered into a definitive agreement to buy Epitomics International, an antibody business headquartered in San Francisco, California, USA, with operations in China, for a gross consideration of $170.0 million.

News of the acquisition, which brings with it a major Chinese antibody operation, saw Abcam shares rise 2% to 339 pence in morning trading on Monday.

Net consideration of $155 million, half payable in cash

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