Date: 2015-11-11
Type of information: Company acquisition
Acquired company: Axiomx (USA - CT)
Acquiring company: Abcam (UK)
Amount: up to $ 45 million
Terms: * On November 11, 2015, Abcam announced that it has entered into a definitive agreement to acquire the entire issued share capital of AxioMx, on a cash-free/debt-free basis for $20m upfront with further performance-based payments totalling $25m. These performance payments will be made over five years and are based upon successful completion of commercial and technical milestones. The consideration will be funded from a combination of Abcam's existing cash resources and newly issued shares. The Acquisition is expected to close formally by the end of this month.
Details: AxioMx was founded in 2012 by Dr. Michael Weiner and Christopher McLeod. The company has 28 employees and is based in Branford, Connecticut, U.S. It has created an in vitro recombinant monoclonal antibody technology which complements Abcam's existing antibody and immunoassay capabilities by targeting attractive and growing markets that traditional in vivo antibody production methods struggle to address. AxioMx 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 highly validated recombinant antibodies for inclusion in the Abcam catalogue, combining this technology with our renowned digital platform, brand and customer service capabilities.
Related: Technology - Services
