In a note to investors, Cowen analyst Doug Schenkel called the decision "odd," and wondered if there would be more to come.
The company said its product revenues for the year rose 101 percent while its services revenues rose 7 percent.
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.
The deal gives Abcam exclusive access to more than 1,800 human diploid and haploid cell lines from Horizon's X-MAN collection.
Abcam was encouraged to buy Firefly BioWorks by its customers, who are more frequently complementing their protein analysis work with miRNA studies.
The all-cash deal gives Abcam access to Firefly's multiplex assay biomarker-detection platform.
The Atlantic reports that genetic counselors are coping with an influx of patients seeking advice on their direct-to-consumer genetic test results.
A small study finds differences between three genomic prostate cancer tests, Medscape reports.
In Nature this week: shared genetic architecture for asthma and allergic diseases, and more.
A survey of Canadians finds them to be divided on genetically modified food, the Ottawa Citizen reports.