The offer put a value of 181 pence per share on Horizon's stock, representing a premium of approximately 26 percent to Horizon's closing share price on May 1.
The company has developed an NGS-based discovery approach that allows it to more thoroughly explore the antibody repertoire produced by immunized animals.
Though considered potential antibody alternatives, these reagents are more likely to succeed in new applications for which conventional tools are poorly suited.
The researchers are currently incorporating new technology that they say will shave an additional two to three weeks off their antibody generation workflow.
It will purchase AxioMx for $20 million followed by additional performance-based payments totaling up to $25 million to be paid over the next five years.
