Abcam adds to product line
Wednesday, August 16, 2006
Abcam plc has acquired exclusive worldwide rights for the distribution of the entire product portfolio of US company, Triple Point Biologics Inc. The products will be sold under the Abcam brand.
Triple Point, based in Portland, Oregon, has a range of research antibodies and associated reagents useful for cancer research, specifically in the widely studied area of proteolysis, which has an increasingly recognised role in the division and metastasizing of cancer cells. Its range comprises 350 products, which have until now been sold directly and via distributors.
Triple Point's product range will add to Abcam's existing on-line catalogue of more than 23,000 products.
Under the terms of the deal, Abcam will acquire the worldwide distribution rights for a period of ten years for an initial payment of $2m plus an earn-out payment based on a percentage of sales achieved during the first four years, subject to a cap of $8m. In addition Abcam will pay a royalty based on a percentage of sales for the entire ten year term.
Jonathan Milner, Abcam's Chief Executive Officer, said:
'Triple Point represents a superb opportunity to complement our existing range of research tools and antibodies for cancer research, and takes us further into the growing and exciting research field of proteolysis.'
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