Expedeon AG announced the closing of the sale and purchase agreement with Abcam plc, Cambridge, UK, for the sale of the Company’s proteomics and immunology business, as announced on November 11, 2019 and as approved by the Extraordinary Shareholder Meeting on December 19, 2019.
- Closing triggers payment of EUR 120 million
- Expedeon AG plans name change to 4basebio AG and change of ticker to 4BSB
- Future focus on DNA manufacturing and enzymes for diagnostics
Heidelberg, Germany and Cambridge, UK, 02 January 2020 – Expedeon AG (Frankfurt: EXNN; ISIN: DE000A2YN801; Prime Standard) today announced the closing of the sale and purchase agreement with Abcam plc (London Stock Exchange: ABC; ISIN: GB00B6774699; AIM MTF), Cambridge, UK, for the sale of the Company’s proteomics and immunology business, as announced on November 11, 2019 and as approved by the Extraordinary Shareholder Meeting on December 19, 2019. The closing triggers a payment of EUR 120 million by Abcam to Expedeon, of which EUR 105.6 million is due immediately and EUR 14.4 million will be held in escrow for two years, in accordance with the terms of the agreement with Abcam.
Expedeon AG will be changing its Company name to 4basebio AG and accordingly change the ticker symbol to 4BSB following entry in the Commercial Register, which is expected shortly. The Company’s shares will continue to be listed on the Frankfurt Stock Exchange and the German securities identification code (WKN) will remain unchanged (A2YN80).
“We are now commencing a new chapter in the Company`s development with a new name, a new business focus and excellent funding resulting from this transaction. Referring to the four base building blocks of all genetic material, the new company name 4basebio AG reflects our new DNA-based business focus. We will also continue with our successful buy & build strategy,” said Dr. Heikki Lanckriet, CEO of Expedeon AG.
Under its future name 4basebio, Expedeon will focus activities in the field of genomics, building on the expertise in its Spanish business unit, Expedeon S.L.U. (Madrid, Spain). The Company will focus on DNA manufacturing to supply DNA products for therapeutic and other uses requiring large amounts of high-purity DNA, such as the fast-growing market of novel gene therapies and gene vaccines.
The high need for DNA caused by wide adoption of gene therapies and gene vaccines is expected to drive the synthetic biology market to $38.7 billion by 2020 with an annual growth rate (CAGR) of 44.2 %. Besides DNA manufacturing, 4basebio aims at providing research and diagnostic products based on its RNA reverse transcriptase, DNA polymerase and DNA primase enzymes, addressing the research tools and diagnostic products markets. The reverse transcriptases market currently has an annual turnover of USD 280 million. The isothermal DNA amplification market segment had a 2015 value of USD 266 million and a CAGR of 13.5 %.
For further information, please contact:
Expedeon AG
Dr. Heikki Lanckriet
CEO
Phone: +44 1223 873 364
Email: heikki.lanckriet@expedeon.com
Investor website: www.investors.expedeon.com
MC Services AG (Investor Relations and International Media Relations)
Raimund Gabriel
Managing Partner
Phone: +49 89 210228 0
Email: expedeon@mc-services.eu
About Expedeon AG: www.expedeon.com
Expedeon is an enabler of exciting advances in medical science and patient care. The Company’s core technologies, innovative products and services are used in research laboratories around the world, enabling scientists to push the boundaries of research and product development, and play an integral part in new diagnostic tools being brought to market. After selling the proteomics and immunology business, Expedeon AG will focus on manufacturing highly pure DNA for use in gene therapies and gene vaccines. Expedeon AG has offices in Germany, Spain, UK, and the US. The Company is listed on the Prime Standard segment of the Frankfurt Stock Exchange (Ticker: EXNN; ISIN: DE000A2YN801).
