Bio-Rad Laboratories, Inc. Acquires AbD Serotec for $69 Million Cash
Published: Jan 10, 2013
MARTINSRIED, GERMANY and MUNCHEN, GERMANY--(Marketwire - January 10, 2013) -
MorphoSys AG / MorphoSys Completes Sale of AbD Serotec to Bio-Rad . Processed and transmitted by Thomson Reuters ONE. The issuer is solely responsible for the content of this announcement.
MorphoSys AG (FSE: MOR; Prime Standard Segment, TecDAX) announced today that the sale of its research and diagnostic antibody segment AbD Serotec to Bio-Rad Laboratories, Inc. (NYSE: BIO and BIOb) has been completed. All assets and liabilities of the AbD Serotec segment of MorphoSys AG as well as all shares of the subsidiaries MorphoSys UK Ltd., MorphoSys AbD GmbH and MorphoSys US, Inc. have been transferred to Bio-Rad.
"We are delighted to have reached the closing of the transaction just a few weeks after the announcement was made. With the divestment of AbD Serotec completed, MorphoSys can devote 100% of its attention to building value in its core therapeutics business," commented Jens Holstein, Chief Financial Officer of MorphoSys AG.
MorphoSys developed HuCAL, the most successful antibody library technology in the pharmaceutical industry. By successfully applying this and other patented technologies, MorphoSys has become a leader in the field of therapeutic antibodies, one of the fastest-growing drug classes in human healthcare.
Together with its pharmaceutical partners, MorphoSys has built a therapeutic pipeline of more than 70 human antibody drug candidates for the treatment of cancer, rheumatoid arthritis, and Alzheimer's disease, to name just a few. With its ongoing commitment to new antibody technology and drug development, MorphoSys is focused on making the healthcare products of tomorrow. MorphoSys is listed on the Frankfurt Stock Exchange under the symbol MOR. For regular updates about MorphoSys, visit http://www.morphosys.com
HuCAL(®), HuCAL GOLD(®), HuCAL PLATINUM(®), CysDisplay(®), RapMAT(®), arYla(®) and Ylanthia(®) and 100 billion high potentials(®) are registered trademarks of MorphoSys AG. Slonomics(®) is a registered trademark of Sloning BioTechnology GmbH, a subsidiary of MorphoSys AG.
This communication contains certain forward-looking statements concerning the MorphoSys group of companies. The forward-looking statements contained herein represent the judgment of MorphoSys as of the date of this release and involve risks and uncertainties. Should actual conditions differ from the Company's assumptions, actual results and actions may differ from those anticipated. MorphoSys does not intend to update any of these forward-looking statements as far as the wording of the relevant press release is concerned.
Media Release (PDF): http://hugin.info/130295/R/1669504/542406.pdf
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Source: MorphoSys AG via Thomson Reuters ONE [HUG#1669504]
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