Abbott negotiates buy-out of Ibis
This article was originally published in Clinica
Abbott is set to gain full ownership of infection analysis specialist Ibis Biosciences after it exercised an option to buy the firm from its parent company Isis Pharmaceuticals for $215m. Abbott will pay Isis $175m for the outstanding 81.4% stake in Carlsbad, California-based Ibis. In February 2008, Abbott agreed to invest $40m in Ibis in exchange for an 18.6% stake (see Clinica No 1294, p 15). In addition to the closing price, Isis will receive earn-outs from sales of Ibis’ T5000 biosensor systems for detecting infectious diseases, following the closing of the acquisition. The deal is expected to close in January 2009.