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Abcam Acquires Marker Gene Technologies

NEW YORK – Abcam announced Wednesday it will acquire Eugene, Oregon-based life sciences research tools firm Marker Gene Technologies (MGT).

"MGT's team have expertise in the areas of biology, organic synthesis and fluorescence chemistry and are experienced in the creation of detection tools that enable enhanced understanding of biological processes," Abcam said in a statement, adding that the deal "brings additional proprietary assay development technologies and labeling capabilities to Abcam."

Abcam did not disclose financial and other terms of the deal, but said in a statement that it will "have a minimal impact on revenue and earnings in the current financial year." It plans to fund "a substantial portion" of the deal by issuing new shares.

In Wednesday trading on the London Stock Exchange's AIM market, shares of Abcam were flat at £12.27 ($15.73.)

MGT offers a number of assay kits, including the eponymous MarkerGene kits for marker gene detection and monitoring of in vitro and intracellular enzyme activity. It is the second acquisition of 2020 for UK-based Abcam and the latest in a string of asset purchases. In January, Abcam bought Applied StemCell's gene editing platform and oncology product portfolio for research and diagnostic markets. Last year, Abcam acquired EdiGene's live cell line and lysates portfolio, bought Expedeon's immunology and proteomics business for €120 million ($130.0 million), and took an undisclosed equity stake in BrickBio.

Abcam made an unsuccessful takeover bid for Horizon Discovery in 2018.

Abcam said it has applied to sell 49,416 new ordinary shares, which it expects to start trading on March 9.