Enzo to Purchase Axxora Life Sciences
This move strengthens Enzo’s position in the European market, and provides the company with a substantial boost to its production and development capabilities. Axxora’s senior management and the heads of its business divisions will stay in place.
New York, NY 5/30/07—Enzo Life Sciences, a subsidiary of Enzo Biochem, has signed an agreement to acquire Axxora Life Sciences for approximately $16.3 million in cash. Axxora, based in San Diego, California, manufactures and markets life science reagents. Two of Axxora’s divisions, ALEXIS Biochemicals and Apotech, are based in Switzerland, and manufacture a variety of reagents, including recombinant proteins, monoclonal antibodies and apoptosis reagents. In addition, Axxora markets more than 40 brands on its website. In 2006, Axxora had revenues of $16 million and 60 employees worldwide. “We expect [the acquisition] to prove highly synergistic with regard to the activities of Enzo Life Sciences,” stated Barry Weiner, president of Enzo. The deal is expected to close in early June.
