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Yesterday, Bio-Rad Laboratories, a global provider of life sciences and clinical diagnostic equipment, announced that it will acquire ABD Serotec, an antibody manufacturer, for 53 million euros ($69.7 million) in cash. AbD Serotec's parent company is Germany's famous antibody company MorphoSys, and the transaction is expected to be completed in January next year.
Pursuant to the terms of the transaction, Bio-Rad will acquire AbD Serotec's research reagents and diagnostics business, including the AbD Serotec division and its subsidiaries in the United States and the United Kingdom. In addition, MorphoSys stated that the transaction also included an agreement that allowed the use of MorphoSys' HuCAL technology for diagnostics and research purposes, and that the agreement was fully paid and non-exclusive.
Brad Crutchfield, president of Bio-Rad's Life Sciences Division, said in a statement: "With this acquisition, Bio-Rad will have access to a comprehensive list of antibodies that will enable us to provide comprehensive analytical solutions. To better serve our customers. In addition, we will also be able to develop a powerful in vitro culture technology to accelerate future antibody production."
Serotec was founded in 1982 and is headquartered in Oxford, United Kingdom. At the beginning of 2006, AbD Serotec was merged from the original Serotec, Design, Biogenesis and OBT four companies, and it was unified under the famous German antibody company MorphoSys. The combined AbD Serotec company can provide tens of thousands of antibodies and immunological reagents, monoclonal antibody preparation and multiple scale antibody production and labeling services.