Bio-Rad Buys Antibody Business
AbD Serotec’s 2011 sales declined 4.5% to €19.3 million ($26.8 million = €0.72 = $1) (see IBO 6/30/12). AbD Serotec offers over 15,000 antibodies and immunological reagents, including custom and OEM products, as well bulk antibodies for the development of diagnostics. AbD Serotec is currently developing diagnostics based on the recombinant antibody HuCAL (Human Combinatorial Antibody Technology) platform in partnership with more than 20 firms. All of AbD Serotec’s approximately 130 employees at the company’s three facilities are expected to join Bio-Rad.
Hercules, CA 12/16/12; Munich, Germany 12/16/12—Bio-Rad Laboratories has agreed to acquire MorphoSys’s AbD Serotec division for €53 million ($70 million = €0.76 = $1) in cash. AbD Serotec sells antibodies for research and diagnostic applications. “With this acquisition, Bio-Rad will have access to a comprehensive catalog of antibodies allowing us to better serve our customers by offering total assay solutions that can be validated on our research platforms for western blotting, multiplex protein expression, ELISA, and cell sorting,” stated Brad Crutchfield, president of Bio-Rad’s Life Science Group. “In addition, we will be able to exploit a powerful in vitro technology to accelerate future antibody generation.” The purchase price includes a license payment for Bio-Rad’s use of AbD Serotec’s HuCAL technology in the research reagent and diagnostic markets. The sale allows MorphoSys to focus on its therapeutic business. The transaction is expected to be completed in January 2013.
