LONDON (Alliance News) - Antibodies maker Abcam PLC said Monday it acquired US-based peer Calico Biolabs Inc for an undisclosed sum.
Although no financial details for the purchase were provided, Abcam explained the deal will have "minimal impact" on revenue and earnings for financial 2019.
The deal for Calico will see Abcam "strategically expand" its leading position in rabbit monoclonal antibodies. The products of Calico will be made available for both research and commercial sale through the Abcam retail network.
"The acquisition of Calico represents execution of our strategy to provide the best and highest quality products to our diagnostic, biopharmaceutical and research customers," Abcam Product Portfolio & Innovation Senior Vice President John Baker said.
"By incorporating Calico's product portfolio and custom services, Abcam expands its offering of rabbit monoclonals for IHC, allowing development of more products for their most important targets, faster," Baker added. "We are excited to welcome the Calico team to the Abcam family, furthering Abcam's mission to provide customers with the highest quality recombinant antibodies for their research."
Shares in Abcam were 1.1% higher at 1,250.00 pence on Monday.