(Alliance News) - Abcam PLC said Tuesday it has acquired the live cell line and lysates portfolio of EdiGene Inc, a company which uses genome editing technology to create novel therapeutics for a range of diseases.
The financial terms for the acquisition were not disclosed; however the antibody maker and retailer said it is expected to have a "minimal impact" on revenue and earnings in its current financial year ending June 30, 2020.
Concerning the cell lines in the portfolio, EdiGene currently has a diploid library of 2,800 single clonal knockout cell lines, which targets over 2,600 genes seen in commonly used cancer cell lines.
Diploid knockout cell lines are used for antibody validation, and play a significant role in the study and understanding of biological pathways and disease models.
The lysate range will be available through Abcam's website early in the fourth quarter of 2019, and the expanded cell line offering throughout 2020.
"We are excited to be able to bring the same level of industry-leading quality and data to the cell lines market as we have to research antibodies. The cell line market is in the early stages of development as a research tool, where the provision of more choice, with the right gene targets in the right cell lines, will allow the market to rapidly expand," said Cheri Walker, senior vice-president of Corporate Development.
Shares in Abcam were up 0.0% at 1,361.00 pence on Tuesday.
