Biotage AB has entered into an agreement to acquire all outstanding shares in the privately held company ATDBio Limited based in Oxford and Southampton, UK, for a total purchase price of approx. 45 MGBP on a debt free and cash free basis (corresponding to approx. 534.4 MSEK) financed through a combination of a share issue of new ordinary Biotage shares, cash at hand and a revolving credit facility. The transaction closed in connection with the entering into the share purchase agreement.
The acquisition of ATDBio adds important platform solutions to Biotage within DNA and RNA oligonucleotide synthesis and purification. This technology is used for applications in drug discovery, molecular diagnostics (such as PCR testing), nucleic acid-based therapeutics and new generation DNA and RNA sequencing technologies. Acquiring the British company is expected to significantly expand and strengthen Biotage as a leading life science tool and impact tech service provider. ATDBio was founded by Professor Tom Brown Sr, a recognised expert in nucleic acid chemistry, in 2004.
ATDBio’s expertise in highly complex DNA and RNA production will provide Biotage with market access and know-how in the rapidly growing DNA and RNA oligonucleotide sector. This market is currently driven by demand for high-quality DNA and RNA molecules and other oligonucleotide analogues in light of the Coronavirus pandemic, plus the potential of other nucleic-acid based therapeutics, vaccines and molecular diagnostics.