Meridian Signs Agreement in Principle to Acquire Line of Recombinant Proteins from Vybion
News May 20, 2008
Meridian Bioscience has announced it has executed a letter of intent to acquire a line of infectious disease recombinant proteins and cardiac antigens from Vybion, Inc.
The purchase price includes cash and future royalties based on net sales of the acquired products, the amounts of which were not disclosed. The assets to be acquired include a portfolio of recombinant viral proteins and cardiac antigens, customer lists, supply agreements, patent and technology rights, equipment, and on-hand inventory. These products will be manufactured at Meridian’s wholly owned subsidiary, Meridian Life Science, Inc. (MLS) located in Memphis, TN.
The products to be acquired from Vybion add to the growing portfolio of biologicals that Meridian manufactures and distributes to the diagnostic, pharmaceutical, and research markets. These products will be highly complementary to Meridian’s existing products manufactured for the large diagnostic companies as critical components of commercial diagnostic products used in the diagnosis of infectious diseases and in the monitoring of human protein levels in hepatitis, HIV, and cardiac disease.
This acquisition adds important technologies and capabilities to Meridian’s Life Science business and will complement Meridian’s expanding life science brands: BIODESIGN, OEM Concepts, Viral Antigens, and Meridian Biologics. In addition to its technological capabilities, the acquired product line will add proprietary manufacturing know-how and access to important patents for the development and production of recombinant proteins, an emerging technology in life sciences.
Through this acquisition and development of advanced enabling technologies, Meridian continues to expand its life science business to support and service researchers, diagnostic test manufacturers, as well as biopharmaceutical and biotechnology companies.
Completion of the transaction is subject to execution of a definitive purchase agreement, satisfactory due diligence, and other customary conditions. The transaction is expected to be completed during the next 30 to 60 days.