Enzo buys reagent firm.New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , NY 5/9/08 -- Enzo Biochem has acquired BIOMOL International for $15 million in cash, $3 million in unregistered stock, and earn outs over two year. BIOMOL is a provider of more than 3,300 products for the areas of signal transduction Signal transduction The transmission of molecular signals from a cell's exterior to its interior. Molecular signals are transmitted between cells by the secretion of hormones and other chemical factors, which are then picked up by different cells. , lipid research, apoptosis, neuroscience and drug discovery with a research focus in functional proteomics. Based in Plymouth Meeting, Pennsylvania Plymouth Meeting is a census-designated place (CDP) in Montgomery County, Pennsylvania, United States. The population was 5,593 at the 2000 census. It is home to the Colonial School District as well as the Plymouth Meeting Mall. , with two subsidiaries in the UK, and 50 employees, BIOMOL has annual revenues of nearly $11.5 million and annual growth of approximately 9%. "Their manufacturing capabilities should serve to enhance Enzo Life Sciences' operating margins. Moreover, its UK subsidiaries, Affiniti Limited and Affiniti Research Products Limited, are accredited accredited recognition by an appropriate authority that the performance of a particular institution has satisfied a prestated set of criteria. accredited herds cattle herds which have achieved a low level of reactors to, e.g. under the ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9001:2000 international quality management standard, providing Enzo with the ability to supply raw materials under the most rigorous quality standards," said Enzo President Barry Weiner. The acquisition is expected to be accretive to earnings, prior to purchase accounting adjustments. With this acquisition, Enzo Life Sciences adds new products and expertise, as well as expands its international base to more effectively compete in the life science-reagent market. Enzo stated that BIOMOL's management would remain "actively involved" with the company. For the six months ended January 31, Enzo Life Sciences' revenue increased 290% to $15.8 million due to the acquisition of Axxora Life Sciences (see IBO Ibo: see Igbo. 5/31/07). |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion