Portfolio company Abzena, a life sciences group providing services and technologies enabling the development and manufacture of biopharmaceutical products, has raised £20 million through the placing of new shares. The group has also announced its intention to acquire The Chemistry Research Solution LLC (TCRS).
TCRS is a specialist contract chemistry and bioconjugation company in the USA. The acquisition will broaden Abzena's service capability while also strengthening its presence in the USA.
Dr John Burt, CEO of Abzena said:
“The acquisition of TCRS is an important strategic step in our ambition to build Abzena into a self-sustaining business and ‘partner of choice’ for R&D organisations developing biopharmaceutical drugs.
“TCRS is an established, profitable company providing chemistry and conjugation services that complement our own. Bringing TCRS into the Abzena Group will enable wider access to Abzena’s proprietary ADC technologies and, in time, TCRS will be able to provide our partners with larger scale and GMP manufacture.”