Abcam, a UK-based provider of protein-based antibodies, reagents, biomarkers, and assays, will operate as a standalone company and a brand within Danaher's Life Sciences segment, helping advance its drug discovery process
Abcam is a UK-based provider of protein consumables. (Credit: Tatiana from Pixabay)
US-based Danaher has signed a definitive agreement to acquire UK-based protein consumables provider Abcam for a total enterprise value of around $5.7bn.
Under the terms of the agreement, Danaher will acquire all the outstanding shares of Abcam at a price of $24 per share in cash, including assumed debt and net of acquired cash.
The acquisition is expected to be completed in mid-2024, subject to certain customary closing conditions including regulatory approvals and Abcam shareholder approval.
Upon closing of the deal, Abcam will operate as a standalone company and a brand within Danaher’s Life Sciences segment, helping the company map complex diseases and advance drug discovery.
Danaher president and CEO Rainer Blair said: “We couldn’t be more excited to have Abcam join Danaher.
“Abcam’s long track record of innovation, outstanding product quality and breadth of antibody portfolio positions them as a key partner for the scientific community.
“We look forward to welcoming Abcam’s innovative and talented team to Danaher as we continue to help our customers solve some of the world’s biggest healthcare challenges.”
Danaher intends to finance the acquisition using available cash on hand and proceeds from the issuance of commercial paper.
Established in 1998, Abcam is a Cambridge, UK-based company that provides highly validated antibodies, reagents, biomarkers, and assays to the scientific community.
The company’s products will address targets in biological pathways that play a key role in advancing drug discovery, life sciences research, and diagnostics.
Abcam CEO Alan Hirzel said: “Our strategy has transformed Abcam to become a scale innovator and important catalyst in the global life science community.
“Danaher shares our passion to help life science researchers achieve their mission faster and their operating company model allows us to continue to pursue our strategy, while harnessing the power of the Danaher Business System to ensure we remain the partner of choice for our customers.”
In June 2021, Danaher has agreed to acquire manufacturer Aldevron for a total consideration of around $9.6bn in cash.