TIDMABC
RNS Number : 2847Q
ABCAM PLC
27 October 2021
ABCAM PLC
Abcam Completes Acquisition of BioVision
27 October 2021, Cambridge, UK - Abcam plc ("Abcam", "the
Company" or "the Group") (AIM LSE: ABC; Nasdaq: ABCM), a global
leader in the supply of life science research tools, today
announces that is has completed its acquisition of BioVision, Inc
("BioVision") from Boai NKY Medical Holdings Ltd. ("NKY") for total
consideration of $340m (the "Acquisition").
The Acquisition accelerates execution of Abcam's strategic
growth plan, enhancing in-house innovation and adding scale in the
complementary biochemical and cellular assay markets.
Commenting on the completion of the Acquisition, Alan Hirzel,
CEO of Abcam, said:
"We are delighted to have completed this transaction and welcome
our new colleagues to Abcam. Bringing BioVision's product portfolio
and capabilities into Abcam, particularly its strengths in
biochemical and cell-based assays, will further enhance our ability
to support life scientists globally."
Additional Details
As previously announced, the most recently audited results of
BioVision for the 12 months ended 31 December 2020, were revenues
of $33.8 million (of which approximately 25% were sold to Abcam),
operating profit of $12.6 million and Net assets of $21.9 million.
Revenues included approximately $5 million of COVID-19 related
product sales which are not expected to recur. The Acquisition is
expected to be accretive to adjusted earnings per share (EPS) from
the first full year of ownership (fiscal year ending December,
2022.)
Further details will be provided at the Company's full year
results presentation in March 2022.
Lazard acted as financial adviser, and Latham & Watkins LLP
acted as legal advisor to Abcam in relation to this
transaction.
For further information, please contact:
Abcam
+ 44 (0) 1223 696 000
Alan Hirzel, Chief Executive Officer
Michael Baldock, Chief Financial Officer
James Staveley, VP Investor Relations
Numis - Nominated Advisor & Joint Corporate Broker
+ 44 (0) 20 7260 1000
Garry Levin / Freddie Barnfield / Duncan Monteith
Morgan Stanley - Joint Corporate Broker
+ 44 (0) 207 425 8000
Tom Perry / Luka Kezic
J.P.Morgan Cazenove - Joint Corporate Broker
+44 (0) 20 7742 4000
James Mitford / Hemant Kapoor
FTI Consulting (media enquiries)
+ 44 (0) 20 3727 1000
Ben Atwell / Natalie Garland-Collins
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 programme of customer reviews
and datasheets, combined with an industry-leading validation
initiative, 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 ordinary
shares are listed on the London Stock Exchange (AIM: ABC) and its
American Depositary Shares (ADSs) trade on the Nasdaq Global Market
(Nasdaq: ABCM).
For more information, please visit corporate.abcam.com .
Forward-looking statements
This announcement, including any information included or
incorporated by reference in this announcement, may contain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. 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 Acquisition
described herein, including the anticipated closing, integration of
the acquired business and potential benefits and synergies of the
Acquisition, Abcam's portfolio and ambitions, as well as statements
that include the words "expect," "intend," "plan," "believe,"
"project," "forecast," "estimate," "may," "should," "anticipate"
and similar statements of a future or forward-looking nature.
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: a regional or global health
pandemic, including the novel coronavirus ("COVID-19"), which has
adversely affected elements of our business, could severely affect
our business, including due to impacts on our operations and supply
chains; challenges in implementing our strategies for revenue
growth in light of competitive challenges; developing new products
and enhancing existing products, adapting to significant
technological change and responding to the introduction of new
products by competitors to remain competitive; 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; if our customers discontinue
or spend less on research, development, production or other
scientific endeavours; 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; if our products fail to satisfy applicable quality
criteria, specifications and performance standards; failing to
maintain our brand and reputation; our dependence upon management
and highly skilled employees and our ability to attract and retain
these highly skilled employees; and the important factors discussed
under the caption "Risk Factors" in Abcam's prospectus pursuant to
Rule 424(b) filed with the U.S. Securities and Exchange Commission
("SEC") on 22 October 2020, which is on file with the SEC and is
available on the SEC website at www.sec.gov, as such factors may be
updated from time to time in Abcam's other 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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END
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