Enzo Biochem Acquires Assay Provider
Based in Ann Arbor, Michigan, and founded in 1992, Assay Designs offers immunoassay kits, luminescent reagents, antibodies, proteins and extracts for research. Its brands include Assay Designs and Stressgen. This is Enzo Biochem’s second acquisition in a year for its Life Sciences business (see IBO 5/15/08), which in fiscal 2008 had sales of more than $35 million.
New York, NY 3/12/09—Enzo Biochem has acquired substantially all of the assets of Assay Designs for $12.2 million in cash. Assay Designs provides kits and reagents for the detection and quantification of small molecules and proteins that are important in inflammation and immunity, oxidative and cellular stress, steroid and hormone biology, cell signaling, and bioenergetics. “Assay Designs has annual revenues exceeding $11 million,” stated Enzo Life Sciences President Carl Balezentis. “Its research product line which has a strong market and brand position provides an effective complement to those products produced and marketed globally by Enzo Life Sciences under the Alexis and Biomol brands, and which lends itself to benefit from our Company’s growing international marketing and sales capabilities in the life sciences field. Assay Designs also provides us with vast experience in protein, antibody and immunoassay development, and manufacturing.” The acquisition is forecasted to be accretive to operating results. The senior management of Assay Designs will remain actively involved with Enzo Life Sciences.
