2 Sep 2016 07:00
For immediate release | 2 September 2016 |
ABCAM PLC
("Abcam")
Milestone Payment relating to the Acquisition of AxioMx, Inc.
Application for admission to trading
Cambridge, UK: Abcam plc (AIM: ABC), a global leader in the supply of life science research tools, is delighted to announce that, further to its acquisition of AxioMx, Inc. on 11 November 2015, the first performance-related payment of deferred consideration is now due to the vendors.
As previously announced, the acquisition was structured with certain further performance-based payments to be made to the vendors over a five year period of up to $25m, subject to the completion of commercial and technical milestones. Following the successful achievement of milestones relating to intellectual property, technology development and product development, the Company is now due to deliver the first milestone payment of additional consideration totalling US$5.2m, of which US$3.1m will be satisfied in cash from Abcam's existing cash resources and US$2.1m by the issue of 204,744 new ordinary 0.2p shares each credited as fully paid. The Company notes that under the terms of the AxioMx, Inc. acquisition, further performance-based payments may be made to the vendors up until the completion of the five year period.
Accordingly, Abcam has made an application for admission to trading of 204,744 new ordinary shares which is expected to occur on or around 6 September 2016. Following admission, Abcam's total issued share capital will be 202,817,638 Ordinary Shares of 0.2p each with voting rights. The Company does not hold any shares in Treasury.
For further information please contact:
Abcam | |
Suzanne Smith, Company Secretary
| + 44 (0) 1223 696 000 |
J.P.Morgan Cazenove - Nominated Adviser & Corporate Broker | + 44 (0) 20 7742 4000 |
James Mitford / Chris Cargill - Nominated Adviser | |
Notes to Editors
About Abcam plc
As an innovator in reagents and tools, Abcam's purpose is to serve life science researchers globally to achieve their mission, faster. Providing the research and clinical communities with tools and scientific support, the Company offers highly validated biological binders and assays to address important targets in critical biological pathways.
Already a pioneer in data sharing and ecommerce in the life sciences, Abcam's ambition is to be the most influential company in life sciences by helping advance global understanding of biology and causes of disease, which, in turn, will drive new treatments and improved health. Two-thirds of the world's 750,000 life science researchers use Abcam's affinity binders, reagents, biomarkers and assays and the Company's products are mentioned in over 20,000 of the 56,000 peer-reviewed papers published each year in the life sciences.
By actively listening to and collaborating with researchers, the Company continuously advances its portfolio to address their needs. A transparent programme of customer reviews and datasheets, combined with an industry-leading validation initiative, gives researchers increased confidence in their results.
Abcam's ten offices are located in the world's leading life science research hubs, enabling local services and multi-language support. Founded in 1998 and headquartered in Cambridge, UK, the Company sells to more than 100 countries. Abcam was admitted to AIM in 2005 (AIM: ABC).
To find out more, please visit www.abcam.com and www.abcamplc.com