Merck Acquires GlycoFi and Abmaxis for $480 Million
Filed in archive Corporate and Industrial News , Diagnostics, Methodologies and Instrumentation , Genomics, Proteomics and Bioinformatics on May 10, 2006
Pharmaceutical company Merck is definitely expanding its biologics protfolio. The firm just acquired two biotech companies: GlycoFi, Inc. and Abmaxis, Inc.
lebanon-based GlycoFi boasts of a proprietal yeast glycoengineering technology that has potential use in developing novel biotherapeutics. Abmaxis, on the other hand, is a private biopharmaceutical company which optimizes and humanizes antibodies for human therapeutics and diagnostics.
The acquisitions costed Merck a sum of $400 million, with GlycoFi taking the lion's share at $400 million. More of the Merck acquisitions from BusinessWeek Online and The PharmVoice.
Tags: diagnostics proteomics biotech merck glycofi glycofi+abmaxis merck+acquires acquires+glycofi
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