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Antibody Maker MorphoSys Purchases Biogenesis for $8.6M in Cash

NEW YORK, Feb. 4 (GenomeWeb News) - MorphoSys of Munich has acquired immunological reagent provider Biogenesis of Poole, UK, and its US affiliate of the same name for approximately £4.55 million ($8.6 million) in cash, the antibody maker said last month.

 

MorphoSys purchased the two companies, which have 28 employees in total, for £5.25 million less net debt of £700,000. Biogenesis UKhad £1.8 million in revenues during fiscal year 2004; Biogenesis US had $1 million in revenues. Both Biogenesis companies will become wholly owned subsidiaries of MorphoSys.

 

MorphoSys said it hopes the acquisition will help it increase market channels for its own HuCAL antibody technology. The company also plans to support Biogenesis' existing portfolio of research products.


Following the acquisition, MorphoSys is one of the top five European suppliers of research antibodies, according to the company.

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