SYGNIS Finalizes Purchase of TGR Biosciences

Heidelberg, Germany and Cambridge, UK 5/8/18—SYGNIS, which provides products for genomics and proteomics research, has completed its purchase of research reagent firm TGR Biosciences (see IBO 3/31/18). The purchase price of €10.1 million ($12.5 million = €0.81 = $1), net of cash acquired, consists of cash, loan notes and a share-based earn out. “The acquisition of TGR Biosciences with its complementary business portfolio is a perfect fit for SYGNIS and an important step in our ‘Grow, Buy and Build strategy’—we are very excited about our joint future,” commented SYGNIS CEO and CSO Dr. Heikki Lanckriet.

 TGR’s immunoassay products will be sold under SYGNIS’ Expedeon brand. This provides SYGNIS with a multiplex ELISA solution and additional OEM products.

< | >