Abcam Makes Final Payment in the Acquisition of an US Antibody Biotech
Abcam has paid US-based AxioMx a final €4.5M milestone based on performance, completing an acquisition that totals €36.4M.
Giant antibody maker Abcam, founded by star biotech entrepreneur Jonathan Milner and based in Cambridge, has announced it made the last payment part of its acquisition deal with AxioMx. The deal was initiated in November 2015 with a €18M upfront payment, and, following the successful development of several IP-protected products, Abcam will now pay €2.7M in cash and €1.8M in newly issued shares.
In total, the British biotech has paid an additional €18.4M in milestones. This final payment marks the completion of the acquisition of AxioMx, a company that develops recombinant antibodies using phage display as a cost-effective alternative to traditional antibodies, which complements Abcam’s portfolio of antibody technologies.
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