Bio-Techne to acquire Novus Biologicals
Bio-Techne has acquired Novus Biologicals for $60 million in cash. Novus Biologicals is a Littleton, Colorado-based supplier of outsourced and in-house developed antibodies and other reagents for life science research. The transaction was financed with cash on hand.
Bio-Techne is a developer and manufacturer of purified proteins—notably cytokines and growth factors, antibodies, immunoassays and biologically active small molecule compounds, which are sold to biomedical researchers and clinical research laboratories.
Novus Biologicals adds strength to Bio-Techne’s antibody business and provides access to a wide range of high quality antibody content for potential inclusion in new assays and kits, as well as for use with instruments Bio-Techne intends to offer following completion of a pending acquisition transaction. In addition, Bio-Techne expects to leverage Novus’ digital marketing capability and management team.
The Novus Biologicals leadership team, Karen Padgett and Dave Eansor, will remain in place.