11 Dec 2015 15:13
Abzena plc
Completion of acquisition of TCRS, adding further ADC conjugation capability
Cambridge, UK, 11 December 2015 - Abzena plc (AIM:ABZA), a life sciences group providing services and technologies enabling the development and manufacture of biopharmaceutical products, confirms that the acquisition of The Chemistry Research Solution LLC (TCRS), a contract chemistry and bioconjugation business focused on antibody drug conjugates (ADCs), has now been completed.
Further to the announcement of the proposed acquisition of TCRS on 24 November 2015, the $1.5 million of long term debt assumed by the Group on the purchase of TCRS has been repaid on completion.
Dr John Burt, CEO of Abzena commented:
"We welcome the TCRS team to the Group and look forward to the next stage of the expansion of our services and offering in the ADC space. This is a rapidly growing, specialist area and partners from across the business will benefit from larger scale ADC manufacture which will enable us to take projects further down the development pathway."
Enquiries:
Abzena plc John Burt, Chief Executive Officer Julian Smith, Chief Financial Officer
| +44 1223 903498
|
Cenkos Securities (Nominated Adviser and Broker) Christopher Golden / Ivonne Cantu
| +44 20 7397 8900
|
N+1 Singer (Joint Broker) Aubrey Powell / Liz Yong
| +44 20 7496 3000 |
Instinctif Partners Melanie-Toyne Sewell / Rozi Morris
| +44 20 7457 2020 abzena@instinctif.com |
About Abzena
Abzena provides proprietary technologies and complementary services in the UK and US to enable the development and manufacture of biopharmaceutical products. The development of biopharmaceuticals is a growing area and requires specialist technology and expertise.
The Group comprises Antitope, PacificGMP and PolyTherics, which between them have built a global customer base including the majority of the top 20 biopharmaceutical companies as well as large and small biotech companies and academic groups.
Antitope provides immunogenicity assessment, protein engineering to create humanized antibodies and deimmunised therapeutic proteins, and cell line development for manufacture.
PacificGMP provides contract process development and manufacture of biopharmaceuticals, including monoclonal antibodies, recombinant proteins, vaccines, and gene therapy and cell therapy products, for preclinical and clinical studies.
PolyTherics specializes in proprietary site-specific conjugation technologies for antibody drug conjugate development and solutions for optimizing the therapeutic properties of biopharmaceuticals.
TCRS is a contract chemistry and bioconjugation business focused on ADCs and is establishing the capability to manufacture ADCs to GMP standards.
Abzena (AIM: ABZA) has its main operations in Cambridge, UK, San Diego, CA, US and Bristol, Pennsylvania, US . For more information, please see www.abzena.com.