ABC.L Regulatory News (ABC)

22 Feb 2007 07:01

ABCAM Plc22 February 2007 For immediate release 22 February 2007 ABCAM PLC ("Abcam" of "the Company") Acquisition of Exclusive Distribution Rights of a minimum of 3,500 antibodies over 5 years Abcam plc (AIM: ABC), the rapidly growing bioscience company that marketsantibodies via its own online catalogue, is pleased to announce that it hasentered a joint agreement with Assay BioTechnology Company Inc. ("ABT") and AnboBiotechnology ("Anbo") to acquire exclusive worldwide rights for thedistribution of the two companies' entire product portfolio of researchantibodies to be sold under the Abcam brand. This acquisition is in line with the Company's strategy of expanding itsantibody catalogue both organically and by acquisition and follows thesuccessful acquisition in August 2006 of exclusive distribution rights fromTriple Point Biologics Inc. ABT, a privately owned US company founded in 2003 and based in California,tests, validates and markets research antibodies developed and produced by Anbo,also privately owned, at a 30,000 sq ft purpose-built building in Chang ZhouCity, China. Prior to this acquisition, Abcam was already selling some 250 of ABT's productson a non-exclusive basis and their good performance and high quality led Abcamto seek a wider and closer longer-term relationship. Under the terms of the dealthe 250 products will become exclusive and Abcam will immediately add a further250 products on an exclusive basis. ABT are committed to adding a minimum of 600new products in each of the next 5 years, bringing the total number of productsincluded in the deal to at least 3,500. Details of the financial terms of the deal are confidential, although royaltiesto be paid are in line with other such agreements. The deal will be funded outof the Company's existing cash resources and Abcam will have an option toacquire the product range outright. Jonathan Milner, Abcam's Chief Executive Officer, said: "ABT's products includegood quality, high demand, modification-state antibodies as well as a number ofassay kits that fit within Abcam's popular nuclear signalling and chromatinrange. We are particularly excited about these, since the study of modifiedproteins is gaining momentum as their increasing role in health and disease isrecognised. It is expected that the deal will be earnings enhancing in thefinancial year to June 2008." For further information please contact: Abcam plc + 44 (0) 1223 696000Jonathan Milner, Chief Executive OfficerEddie Powell, Chief Financial Officer + 44 (0) 1223 696000www.abcam.com Buchanan Communications + 44 (0) 20 7466 5000Mark Court / Mary-Jane Johnson Notes for editors About Abcam plc Abcam is a producer and distributor of research-grade antibodies headquarteredin Cambridge, UK, with a US office located in Cambridge, Massachusetts. Abcamwas admitted to AIM in November 2005 and trades under the ticker symbol ABC.The Company produces and distributes its own and third party produced antibodiesto academic and commercial users throughout the world with product informationprovided and ordering available through the Company's website, www.Abcam.com.The antibodies are sold under the Abcam brand name. The Company's vision is tobuild the largest online antibody resource in the world while also ensuring thatthe antibodies are of high quality and commercially viable. Abcam now has anonline catalogue of 29,000 products, most of which are antibodies, from over 200suppliers supported by up-to-date and detailed technical data sheets, which arecreated by the Company. The Company currently employs 120 staff in its threeoperating companies About antibodies Antibodies are proteins produced by white blood cells in response to theintroduction of a foreign body known as an antigen. Antibodies, which have awide variety of uses in research, diagnostics and therapeutics, are used bybioscientists in research into disease and into the human genome, where they areused to mark and identify specific cells and other living matter. The number ofhuman antibodies of use in research is potentially greater than one million. This information is provided by RNS The company news service from the London Stock Exchange