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Abcam (NASDAQ: ABCM), a leading life sciences company, has secured six accolades at the CiteAb annual awards, the highest of any participant this year. Notable recognitions include the Innovation of the Year for its recombinant multiclonal antibodies and Acquisition of the Year for acquiring BioVision for $340M. These achievements highlight Abcam's commitment to enhancing scientific reproducibility and meeting the demand for high-performance assays, thereby strengthening its position in the life sciences sector.
Abcam's financial results for the 18-month period ending December 31, 2021, show significant growth, with revenues increasing by 22% at constant exchange rates, fueled by a 38% growth in in-house products. The acquisition of BioVision contributed £2.6m, bringing total revenues to £462.9m. Adjusted operating profit reached £60.4m, reflecting a 19.2% operating margin. The company anticipates 20% revenue growth in CY2022 and set a revised revenue target of £450m-£525m for CY2024, emphasizing long-term growth strategies.
Twist Bioscience (TWST) has entered a licensing agreement with Abcam (ABCM) for the use of its proprietary VHH phage library, enhancing Abcam's recombinant antibody capabilities. Abcam plans to develop and commercialize antibodies for diagnostics and research, while Twist retains rights for therapeutic applications. This partnership aims to improve industry standards by delivering high-quality reagents and expanding access to challenging antibody targets, with potential commercial benefits for both companies.
Alamar Biosciences and Abcam announced a strategic partnership to advance knowledge of the human proteome, crucial for early cancer detection and disease understanding. This collaboration will leverage Abcam's portfolio of over 1,300 recombinant monoclonal antibody pairs, enhancing Alamar's NULISA technology platform. This platform aims to support low abundance biomarker discovery, critical for discovering proteins in human plasma. The partnership is expected to drive innovation in proteomic analysis, vital for research and diagnostics.
Nautilus Biotechnology and Abcam announced a strategic partnership to enhance proteomic analysis through the development of affinity binding reagents. This collaboration will leverage Abcam's monoclonal antibody technologies to support Nautilus in reagent R&D and establish a long-term supply relationship. Initially focused on affinity reagents, it aims for large-scale manufacturing for commercialization. Both companies emphasize the partnership's potential to improve drug and diagnostic tool development, catering to the growing importance of proteomic data.
Abcam has successfully completed its $340 million acquisition of BioVision, aiming to enhance its biochemical and cellular assay market presence. This strategic acquisition adds BioVision's extensive product portfolio and a team of 70 experts to Abcam, allowing for a stronger global commercialization network. Concurrently, Abcam has significantly expanded its immunoassay kit R&D and manufacturing facilities in Eugene, OR, doubling its capacity to meet rising sector demands. These developments are positioned as vital steps in Abcam's strategic growth plan.
Abcam plc (Nasdaq: ABCM) reported strong financial results for the 12 months ending June 30, 2021, with revenue of £297.7m, a 14% increase year-on-year. The gross profit margin improved to 71.1%, while operating profit rose to £28.2m. Adjusted diluted EPS reached 4.8p, up from 3.6p in the prior year. The company experienced significant growth in in-house products, achieving 41% revenue growth in H2. Following these results, Abcam announced an agreement to acquire BioVision, Inc. for $340m, enhancing its product offerings. The outlook remains positive, with expectations of continued revenue growth despite potential foreign exchange headwinds.
Abcam has announced a definitive agreement to acquire BioVision, a subsidiary of Boai NKY Medical Holdings, for $340 million. This acquisition is expected to enhance Abcam's in-house capabilities in biochemical and cell-based assay kits, aligning with its strategic focus on innovation. BioVision reported $33.8 million in revenues for 2020, with growth driven by its broad portfolio of life science tools. The transaction is projected to be accretive to earnings from the first full year of ownership, with regulatory approvals anticipated before the end of 2021.
Abcam (AIM: ABC, NASDAQ: ABCM) announced the opening of a new 100,000 sq-ft facility in Waltham, MA, as a critical step in its expansion in the United States. This site will support the company's R&D, production, distribution, and customer service operations, addressing the growing needs of the life sciences sector. The new facility more than doubles Abcam's previous capacity and will eventually accommodate around 300 employees. The announcement follows Abcam's NASDAQ listing in October 2020 and its establishment of a cell engineering facility in December 2020.
