M&A Deal Summary

Abcam Acquires Firefly BioWorks

On January 23, 2015, Abcam acquired life science company Firefly BioWorks from PBM Capital Group for 28M USD

Acquisition Highlights
  • This is Abcam’s 4th transaction in the Life Science sector.
  • This is Abcam’s 3rd largest (disclosed) transaction.
  • This is Abcam’s 3rd transaction in the United States.
  • This is Abcam’s 1st transaction in Massachusetts.

M&A Deal Summary
Date 2015-01-23
Target Firefly BioWorks
Sector Life Science
Buyer(s) Abcam
Sellers(s) PBM Capital Group
Deal Type Add-on Acquisition
Deal Value 28M USD

Target

Firefly BioWorks

Cambridge, Massachusetts, United States
Firefly BioWorks is introducing an open platform that allows industrial, diagnostic, and clinical scientists to develop and use biological assays that can be executed on standard laboratory instrumentation.

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Buyer(S) 1

Buyer

Abcam

Cambridge, United Kingdom
Category Company
Founded 1998
Sector Life Science
Employees1,682
Revenue 362M GBP (2022)
DESCRIPTION

Abcam is a producer and marketer of high quality protein research tools. These tools enable life scientists to analyze components of living cells at the molecular level which is essential in a wide range of fields including drug discovery, diagnostics, and basic research. Abcam was founded in 1998 and is based in Cambridge, the United Kingdom.

DEAL STATS #
Overall 4 of 8
Sector (Life Science) 4 of 8
Type (Add-on Acquisition) 4 of 7
State (Massachusetts) 1 of 1
Country (United States) 3 of 7
Year (2015) 1 of 2
Size (of disclosed) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-19 Epitomics

Burlingame, California, United States

Epitomics, Inc. is a biotechnology company dedicated to developing breakthrough rabbit monoclonal antibody technology for research and diagnostic applications.

Buy $155M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-01 AxioMx

Branford, Connecticut, United States

AxioMx, Inc. is a innovator of phage display antibody technologies and a leading provider of recombinant antibody development and production services. The current monoclonal and polyclonal antibody development paradigm is too slow and does not always result in consistent, renewable, and quality antibodies. Until recently the timelines and cost of phage display protocols have made the method impractical for most research and diagnostic reagent purposes. AxioMx’s innovative improvements to traditional phage display methods now make phage display a favored approach to antibody development for research, diagnostic, and therapeutic applications.

Buy $20M

Seller(S) 1

SELLER

PBM Capital Group

Investor Investor Investor Investor Investor

Category Private Equity Firm
Size Small
Type Sector Focused
DESCRIPTION

PBM Capital Group is a private investment firm primarily focused on the healthcare and life science sectors. Prospective transaction types include management buyouts, growth financings, recapitalization, and stake purchases. PBM Capital Group was formed in 2010 and is based in Charlottesville, Virginia.

DEAL STATS #
Overall 1 of 4
Sector (Life Science) 1 of 3
Type (Add-on Acquisition) 1 of 3
State (Massachusetts) 1 of 1
Country (United States) 1 of 3
Year (2015) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-25 AveXis

Dallas, Texas, United States

AveXis is a clinic-ready, synthetic biology platform company. AveXis has several ongoing clinical studies for the treatment of SMA, an inherited neurodegenerative disease caused by a defect in a single gene, the survival motor neuron (SMN1). The lead AveXis gene therapy candidate, AVXS-101, has highly compelling clinical data in treating SMA Type 1, which is the number one genetic cause of death in infants, where 9 out of 10 infants do not live to their second birthday or are permanently ventilator dependent. It is estimated that one out of every 6,000-10,000 children born is affected by some form of SMA.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-19 AveXis

Dallas, Texas, United States

AveXis is a clinic-ready, synthetic biology platform company. AveXis has several ongoing clinical studies for the treatment of SMA, an inherited neurodegenerative disease caused by a defect in a single gene, the survival motor neuron (SMN1). The lead AveXis gene therapy candidate, AVXS-101, has highly compelling clinical data in treating SMA Type 1, which is the number one genetic cause of death in infants, where 9 out of 10 infants do not live to their second birthday or are permanently ventilator dependent. It is estimated that one out of every 6,000-10,000 children born is affected by some form of SMA.

Sell -
Mergr

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