StockMarketWire.com - Life science research tools supplier Abcam said it had entered into a definitive agreement to acquire BioVision, a subsidiary of Boai NKY Medical Holdings, for $340 million.

The acquisition brings one of Abcam's largest third-party suppliers in-house, accelerating the company's strategic execution and focus on in-house innovation and products in the complementary biochemical and cell-based assay market.

Concurrent with the Acquisition, Abcam and NKY also entered into a memorandum of understanding to establish a collaborative, commercial partnership under which Abcam would 'develop and supply products and services to NKY in support of their ongoing product development and commercialisation in the IVD field,' the company said.

The acquisition would be subject to review and approval of the Shenzhen Stock Exchange and by a vote of NKY's shareholders. If approved, the acquisition is expected to close before the end of 2021 calendar year.




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