CAMBRIDGE, England and WALTHAM, Mass., June 23,
2023 /PRNewswire/ -- Abcam plc ("Abcam," "Company,"
"Group") (Nasdaq: ABCM), a global leader in the supply of life
science research tools, today announces that, having listened to
and extensively engaged with shareholders, the Board of Directors
has unanimously decided to initiate a process to explore strategic
alternatives for the Company. The comprehensive process will begin
immediately and will evaluate a broad range of options to maximize
shareholder value, including a potential sale of the Company. As
previously disclosed, Abcam has received strategic inquiries
from multiple parties over the past few weeks.
The Company commented: "Abcam is a unique asset that provides
innovative products and solutions for the global life sciences
community. Our Board is fully aligned in its belief that the best
way to maximize value for shareholders is to comprehensively review
the Company's strategic alternatives, including a potential sale
of Abcam. We will pursue the pathway that maximizes value for
our shareholders and also ensures successful outcomes for our
customers and employees."
The Board of Directors has retained Lazard and Morgan Stanley as
financial advisors to assist in its review of strategic
alternatives. Latham & Watkins has been appointed as legal
advisor in connection with the review process.
There can be no assurance regarding the results or outcome of
this review. Abcam does not intend to comment further on this
strategic review process and will make further announcements in
accordance with its ongoing disclosure obligations and pursuant to
applicable laws and regulations.
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
antibodies, assays, and other research tools 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.
Abcam's worldwide customer base of approximately 750,000 life
science researchers' uses Abcam's antibodies, reagents, biomarkers,
and assays. By actively listening to and collaborating with these
researchers, the Company continuously advances its portfolio to
address their needs. A transparent program of customer reviews and
datasheets, combined with industry-leading validation initiatives,
gives researchers increased confidence in their results.
Founded in 1998 and headquartered in Cambridge, UK, the
Company has served customers in more than 130 countries. Abcam's
American Depositary Shares (ADSs) trade on the Nasdaq Global Select
Market (Nasdaq: ABCM).
For more information, please
visit www.abcam.com or www.abcamplc.com.
Forward-Looking Statements
This announcement contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. In
some cases, you can identify forward-looking statements by the
following words: "may," "might," "will," "could," "would,"
"should," "expect," "plan," "anticipate," "intend," "seek,"
"believe," "estimate," "predict," "potential," "continue,"
"contemplate," "possible" or the negative of these terms or other
comparable terminology, although not all forward-looking statements
contain these words. They are not historical facts, nor are they
guarantees of future performance. Any express or implied statements
contained in this announcement that are not statements of
historical fact may be deemed to be forward-looking statements,
including, without limitation, statements regarding the timing and
scope of a process to explore strategic alternatives for the
Company, including a potential sale of Abcam, and Abcam's portfolio
and ambitions. These forward-looking statements are neither
promises nor guarantees, but involve known and unknown risks and
uncertainties that could cause actual results to differ materially
from those projected, including, without limitation: challenges in
implementing our strategies for revenue growth in light of
competitive challenges; the development of new products or the
enhancement of existing products, and the need to adapt to
significant technological changes or respond to the introduction of
new products by competitors to remain competitive; our customers
discontinuing or spending less on research, development, production
or other scientific endeavors; failing to successfully identify or
integrate acquired businesses or assets into our operations or
fully recognize the anticipated benefits of businesses or assets
that we acquire; the ongoing COVID 19 pandemic, including variants,
continues to affect our business, including impacts on our
operations and supply chains; failing to successfully use, access
and maintain information systems and implement new systems to
handle our changing needs; cyber security risks and any failure to
maintain the confidentiality, integrity and availability of our
computer hardware, software and internet applications and related
tools and functions; failing to successfully manage our current and
potential future growth; any significant interruptions in our
operations; our products failing to satisfy applicable quality
criteria, specifications and performance standards; failing to
maintain and enhance our brand and reputation; ability to react to
unfavorable geopolitical or economic changes that affect life
science funding; failing to deliver on transformational growth
projects; our dependence upon management and highly skilled
employees and our ability to attract and retain these highly
skilled employees; and as a foreign private issuer, we are exempt
from a number of rules under the U.S. securities laws
and Nasdaq corporate governance rules and are permitted to
file less information with the SEC than U.S. companies, which may
limit the information available to holders of our American
Depositary Shares ("ADS"); and the other important factors
discussed under the caption "Risk Factors" in Abcam's Annual Report
on Form 20-F for the year ended December 31,
2022 ("Annual Report") filed with the U.S. Securities and
Exchange Commission ("SEC") on March 20,
2023, which is available on the SEC website at www.sec.gov,
as such factors may be updated from time to time
in Abcam's subsequent filings with the SEC. Any forward-looking
statements contained in this announcement speak only as of the date
hereof and accordingly undue reliance should not be placed on such
statements. Abcam disclaims any obligation or undertaking to update
or revise any forward-looking statements contained in this
announcement, whether as a result of new information, future events
or otherwise, other than to the extent required by applicable
law.
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Abcam plc
Tommy
Thomas, CPA
Vice President, Investor Relations
+1 617-577-4205
152 Grove Street, Building 1100
Waltham, MA 02453
Media enquiries
US: Joele Frank
+1
212-355-4449
abcam-jf@joelefrank.com
UK and Europe: FTI
+44 (0)20-3727-1000
abcam@fticonsulting.com
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SOURCE Abcam PLC