Acquisition of Cell Lines and Lysates Portfolio
16 July 2019
("Abcam" or "the Company")
Abcam Enters Cell Editing Market Through
Acquisition of EdiGene's Knock-out Cell Lines and Lysates Portfolio
- Largest off-the-shelf diploid KO library, over 2,800 cell lines
Abcam (AIM: ABC), a global innovator in life science reagents and tools, is today pleased to announce the acquisition of the entire live cell line and lysates portfolio of EdiGene Inc, a leading company focused on developing genome editing technologies into novel therapeutics for a broad range of diseases and into creative solutions to advance drug discovery.
Using their proprietary high-throughput cell editing platform, EdiGene developed the industry's largest off-the shelf diploid library of over 2,800 single clonal knockout (KO) cell lines targeting over 2,600 genes in commonly used human cancer cell lines (including HeLa, HEK293-T, A549, HCT116, Hep G2 and MCF7).
Ready-made diploid KO cell lines are an important tool for antibody validation. They also play a significant role in the study and understanding of biological pathways and disease models and can be used in screening and cellular assays. EdiGene's cell lines and lysates are used by top academic researchers, global biopharmaceutical companies, and leading antibody companies.
Financial terms of the transaction have not been disclosed and are expected to have a minimal impact on revenue and earnings in the current financial year.
Commenting on the acquisition, Cheri Walker, SVP of Corporate Development at Abcam, said: "We are excited to be able to bring the same level of industry-leading quality and data to the cell lines market as we have to research antibodies. The cell line market is in the early stages of development as a research tool, where the provision of more choice, with the right gene targets in the right cell lines, will allow the market to rapidly expand."
Dong Wei, CEO of EdiGene, commented: "Following our strategic decision to focus on advancing our pipeline of biotherapeutic products and high-throughput genome screening services, we are pleased to be transitioning our complete cell line portfolio to the team at Abcam. As recognised industry leaders in the provision of biologic reagents and tools, we are confident Abcam will be able to provide expert support to our global user-base."
The lysate range is expected to be available through the Abcam website in early Q4 2019, with the expanded cell line offering following throughout 2020. In addition, these products will be used to support further knock-out antibody validation, an integral part of Abcam's on-going antibody quality initiative.
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For further information, please contact:
+ 44 (0) 1223 696 000
James Staveley, VP Investor Relations
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Ben Atwell / Brett Pollard / Natalie Garland-Collins
About Abcam plc
As an innovator in reagents and tools, Abcam's purpose is to serve life science researchers globally to achieve their mission, faster. Providing the research and clinical communities with tools and scientific support, the Company offers highly validated biological binders and assays to address important targets in critical biological pathways.
Already a pioneer in data sharing and ecommerce in the life sciences, Abcam's ambition is to be the most influential company in life sciences by helping advance global understanding of biology and causes of disease, which, in turn, will drive new treatments and improved health. Two-thirds of the world's 750,000 life science researchers use Abcam's affinity binders, reagents, biomarkers and assays and the Company's products are mentioned in over 20,000 of the 56,000 peer-reviewed papers published each year in the life sciences.
By actively listening to and collaborating with researchers, the Company continuously advances its portfolio to address their needs. A transparent programme of customer reviews and datasheets, combined with an industry-leading validation initiative, gives researchers increased confidence in their results.
Abcam's eleven locations are in the world's leading life science research hubs, enabling local services and multi-language support. Founded in 1998 and headquartered in Cambridge, UK, the Company sells to more than 130 countries. Abcam was admitted to AIM in 2005 (AIM: ABC).
About EdiGene Inc
EdiGene Inc was founded in 2015, and is now headquartered in Beijing, with operational subsidiaries in Guangzhou, China and Cambridge, USA. EdiGene's mission is to translate cutting-edge genome editing technologies into novel therapeutics for genetic diseases and cancer, and into creative solutions to advance drug discovery. EdiGene leverages proprietary platforms to develop gene-editing therapies for a wide range of diseases, and to conduct high-throughput genome screening to enable dissection of functional big data in biological contexts.
More information can be found at www.EdiGene.com.
Forward looking statements
This announcement, including any information included or incorporated by reference in this announcement, may contain forward-looking statements (including words such as "believe", "expect", "estimate", "intend", "anticipate" and words of similar meaning) which are based upon current expectations and assumptions regarding anticipated developments and other factors affecting the Abcam Group. All statements other than statements of historical facts may be forward-looking statements and should not be treated as guarantees of future performance. These forward-looking statements involve risks and uncertainties, many of which are beyond the control of the Abcam Group, and there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements. These forward-looking statements speak only as at the date of this announcement and accordingly undue reliance should not be placed on such statements. The Abcam Group does not assume any obligation to, and does not intend to, revise or update these forward-looking statements, except as required pursuant to applicable law.
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