Bio-techne boosts antibody portfolio with $60m Novus acq

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Bio-techne boosts antibody portfolio with $60m Novus acq
Protein manufacturer Bio-Techne has expanded its purified proteins portfolio through the $60m (€44m) acquisition of antibody developer Novus Biologicals.

Bio-Techne develops and manufactures cytokines, growth factors, antibodies immunoassays and biologically active small molecule compounds to biomedical and clinical researchers through its R&D Systems brand. The bolt-on addition of Littleton, Colorado-based firm Novus adds a collection of more than 250,000 antibodies and other life science reagents to its offerings.

Bio-Techne’s CEO Charles Kummeth said “an expansion of our antibody portfolio was a logical step in our long term strategic business plan,” ​whilst Novus’ CEO Karen Padgett – who will remain on the leadership team – added: “The combined business will represent a unique one-stop-shop for our world-wide customers.”

The deal comes a fortnight after Bio-Techne shelled out $300m to acquire ProteinSimple, a protein analysis company based in Santa Clara, California.

At the time Kummeth said: “R&D Systems brand proteins, antibodies and related research reagents fit perfectly with this state-of-the-art platform and this is only the latest action demonstrating our intention to continue to offer customers new and innovative tools for cutting-edge research.”

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