(Alliance News) - Investment firm Mercia Asset Management PLC on Wednesday said its portfolio company Oxgene has extended its relationship with life science company Abcam PLC.
This expanded agreement - which follows an earlier deal, signed in August 2018 - will see Oxgene deliver at least 1,000 engineered cell lines over the next three years to support Abcam in its delivery of highly validated biological binders and assays.
Oxgene's high throughput gene editing platform integrates bioinformatics and automation for fast, efficient gene editing using CRISPR technology, Mercia explained.
Platform automation eliminates human error and improves reproducibly, while the rapid generation of custom cell lines brings scale and quality to gene editing projects.
"I'm particularly proud of our CRISPR based Gene Editing platform. We have proven our ability to take complex processes and deliver innovative and effective solutions," said Oxgene Chief Executive Ryan Cawood.
"We have backed the company since the very start and are delighted to be involved in their journey as they continue to grow their position in the global multi-billion-dollar life sciences market," added Mercia Chief Executive Mark Payton.
Mercia shares were trading 0.5% lower on Wednesday at 30.84 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Mercia Asset (MERC)