Techne
This article was originally published in The Gray Sheet
Executive Summary
Agrees to acquire the primary assets of Genzyme General's Research Products business for about $65.5 mil. - including $24.8 mil. in cash, $17 mil. in Techne common stock and estimated royalties over five years of $23.7 mil. The Research Products unit assets to be acquired generated about $15 mil. in 1997 and consist of a catalog business offering over 350 recombinant proteins, antibodies, and human, mouse, and rat ELISA research kits to over 4,000 customers. Minneapolis-based Techne, maker of cytokine and cytokine-related reagents and assays for use in basic and clinical research, notes the acquisition will extend its network of scientific contacts and collaborations, add product volume and "improve our manufacturing efficiency and marketing and sales effectiveness." Genzyme General is divesting the business as part of a strategy to "focus on growth businesses consistent with our core competencies," and notes that its diagnostics business will continue to produce in vitro diagnostics including rapid tests, clinical chemistry and immunochemistry products. The deal is expected to close by July 1...
You may also be interested in...
Hanmi-OCI Merger Hits Wall As Brothers Win Shareholder Vote, Board Seats
The planned merger of Korea's Hanmi Pharm Group with OCI Group hits a major speed bump as the two sons of Hanmi's founder and other candidates recommended by them secture board seats. But it remains to be seen how the Lim brothers will fulfil their ambitious promises.
Beauty Firms Using AI-Based Tools Could Be Subject To Health Privacy Laws In US States
Using AI-based programs to collect and store consumer information risks running afoul of new health privacy laws cropping up in US states. Lack of federal regulation or guidance on the issue is one of the biggest challenges for beauty firms deploying AI, according to Stacy Marcus, partner at Reed Smith LLP.
Mustang Bio Enters Race For CAR-T In Autoimmune Disease
The biotech company’s CEO talked to Scrip about plans to bring the CD20-targeting CAR-T MB-106 into an investigator-sponsored Phase I trial later this year.