Navigation Links
Abbott Exercises Its Option to Acquire Ibis Biosciences, a Subsidiary of Isis
Date:12/17/2008

Total acquisition price will be $215 million

Acquisition will expand Abbott's position in molecular diagnostics for infectious disease

CARLSBAD, Calif. and ABBOTT PARK, Ill., Dec. 17 /PRNewswire-FirstCall/ -- Isis Pharmaceuticals, Inc. (Nasdaq: ISIS) and Abbott (NYSE: ABT) announced today that Abbott has exercised its option to purchase the remaining equity ownership in Ibis Biosciences, Inc., an Isis subsidiary, for a closing purchase price of $175 million. In addition to the closing purchase price, Isis will receive earn out payments from Abbott tied to post-closing sales of Ibis systems, including instruments and assay kits.

Earlier this year, Abbott invested $40 million in Ibis in exchange for approximately 18.6% of Ibis' outstanding equity. This investment, along with the $175 million that would be due at closing, would result in a total acquisition price of $215 million plus earn out payments.

The closing of the acquisition of the remaining equity ownership in Ibis is subject to the satisfaction of the terms and conditions of a stock purchase agreement that has been executed by the parties, including obtaining clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, and is expected to occur in January, 2009.

"Abbott's confidence in Ibis is reflected in its decision to invest in Ibis' technology and to exercise its option to purchase Ibis. We have already presented development plans for the next-generation instrument that will facilitate our rapid growth into clinical diagnostics," said Michael Treble, President of Ibis. "This year we have made substantial progress by advancing our broad pathogen detection and characterization capab
'/>"/>

SOURCE Isis Pharmaceuticals, Inc.; Abbott
Copyright©2008 PR Newswire.
All rights reserved

Page: 1 2 3 4 5

Related biology technology :

1. Abbott Named One of the Best Places to Launch a Career by BusinessWeek
2. Martek Signs Multi-Year Worldwide Sole Source Supply Agreement with Abbott
3. Abbott Scientists Create One Molecule With Two Antibody Functions
4. Abbott Named to Science Magazines List of Top Employers in the Biotech and Pharmaceutical Industry
5. Abbotts HUMIRA(R) Receives Positive Opinion From EMEA for Treatment of Moderate to Severe Plaque Psoriasis
6. Abbott Declares 336th Consecutive Quarterly Dividend
7. Pfizer, Genentech, Amgen, Bayer, Wyeth, Abbott, Merck and Additional Leading Pharmaceutical Companies Participating During ExL Pharmas Fall Line Up!
8. Abbott to Present at JP Morgan Healthcare Conference
9. Abbott Announces Approval of First Fully Automated Blood Screening Test for HTLV-I/HTLV-II
10. Isis Announces Equity Investment in Ibis Biosciences Subsidiary by Abbott; Option Acquired to Purchase Remaining Ibis Equity
11. Abbott Receives FDA Approval for SIMCOR(R) (Niaspan(R) / simvastatin), a Novel Combination Medicine for Comprehensive Cholesterol Management
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/30/2014)... , September 30, 2014 ... intuitive browsing of chemistry in documents ... software solutions and consulting services for life science ... information and generate Markush structures from documents. ... organizations intellectual property, however generating and understanding Markush ...
(Date:9/30/2014)... Sept. 30, 2014 BioHealth Innovation, Inc. ... market-relevant biohealth innovations and increasing access to early-stage funding ... that venture capitalist, Tania Fernandez , Ph.D., has ... Fernandez will be a member of the management team ... up to $50 million in seed and early-stage equity ...
(Date:9/30/2014)... 30, 2014 The custom stainless steel ... Product Show 2014. The Boston Area Chapter of ISPE ... annual, day-long event for Wed., Oct. 1 at Gillette ... be the largest in ISPE Boston’s long history, with ... 3,000 attendees expected. , HOLLOWAY AMERICA President David ...
(Date:9/30/2014)... (PRWEB) September 30, 2014 On September 11, ... James Sherley in anticipation of a session that he will ... Toxicology Summit,” scheduled for February 17-18, 2015 in London. ... Pharma IQ asked Dr. Sherley to respond to several questions ... toxicity, challenges to evaluating stem cell toxicity, and future trends ...
Breaking Biology Technology:ChemAxon Introduces ChemCurator for Chemical Information Extraction and Markush Structure Creation 2Seasoned Life Sciences Venture Capitalist Tania Fernandez Joins BHI to Help Manage New BioHealth Gap Fund 2HOLLOWAY AMERICA to Exhibit at ISPE Boston Product Show 2014 2HOLLOWAY AMERICA to Exhibit at ISPE Boston Product Show 2014 3Adult Stem Cell Technology Center, LLC Director James L. Sherley Discusses Stem Cell Toxicology 2Adult Stem Cell Technology Center, LLC Director James L. Sherley Discusses Stem Cell Toxicology 3Adult Stem Cell Technology Center, LLC Director James L. Sherley Discusses Stem Cell Toxicology 4
... Oct. 10 /PRNewswire-FirstCall/ - Neptune Technologies &,Bioressources Inc. ... the fiscal 2009 first quarter ended August 31, ... ended August 31, 2008 was,$2,366,000 compared to $2,085,000 ... an increase of 13.5%., The Company substantially ...
... The race for the best "gecko foot" dry adhesive got ... practical material reported in the journal Science by a team ... been interested in the ability of gecko lizards to scurry ... The creatures owe this amazing ability to microscopic branched elastic ...
... to No. 2 in ranking; up six spots from last ... is earning recognition as a leader in biotechnology not just ... to work., Monsanto, headquartered in St. Louis, Missouri, took ... by Science, a leading,industry publication. The company moved up six ...
Cached Biology Technology:Neptune Technologies & Bioressources Inc. reports first quarter results 2Dry adhesive based on carbon nanotubes gets stronger, with directional gripping ability 2Dry adhesive based on carbon nanotubes gets stronger, with directional gripping ability 3Dry adhesive based on carbon nanotubes gets stronger, with directional gripping ability 4Monsanto Recognized as Top Biotechnology Employer by Science Magazine 2
(Date:9/29/2014)... research team says recently identified radiation detection properties of ... doors for homeland security and medical advances. , In ... issue of Optics Letters , UT Arlington Physics ... method to fabricate transparent nanoscintillators by heating nanoparticles composed ... is formed. A scintillator refers to a material ...
(Date:9/29/2014)... five-year, $6 million grant for clinical research and ... of safe and effective treatments for cocaine addiction. ... Institutes of Health, National Institute on Drug Abuse, ... for Cocaine Use Disorder to oversee preclinical and ... moving forward with more expensive large-scale clinical trials. ...
(Date:9/29/2014)... Colo., USA For decades, planetary geologists have ... Valles Marineris, the 2000-mile-long chasm that constitutes the ... have identified features that might have been carved ... canyons; however, these observations have remained highly controversial ... from Bryn Mawr College and the Freie Universitaet ...
Breaking Biology News(10 mins):UT Arlington researchers develop new transparent nanoscintillators for radiation detection 2UT Arlington researchers develop new transparent nanoscintillators for radiation detection 3New VCU center to target cocaine addiction 2Glaciers in the Grand Canyon of Mars? 2Glaciers in the Grand Canyon of Mars? 3Glaciers in the Grand Canyon of Mars? 4Glaciers in the Grand Canyon of Mars? 5Glaciers in the Grand Canyon of Mars? 6Glaciers in the Grand Canyon of Mars? 7Glaciers in the Grand Canyon of Mars? 8Glaciers in the Grand Canyon of Mars? 9
... Inc., a San Antonio-based early stage medical device company ... San Antonio (UTSA), was honored at the Texas Life ... Life Science Companies recognized for having the best business ... technology, biotech and pharma companies competed in the event ...
... acetic acid, can effectively kill mycobacteria, even highly ... of researchers from Venezuela, France, and the US ... journal of the American Society for Microbiology. ... and non-toxic disinfectant against drug-resistant tuberculosis (TB) bacteria ...
... Eating a vegetarian diet appears to be associated with lower ... to reduce blood pressure. Factors such as diet, body ... the risk of developing hypertension. Dietary modifications have been shown ... authors analyzed seven clinical trials and 32 studies published from ...
Cached Biology News:Leto Solutions honored as 1 of top 10 best companies at 2014 Texas Life Science Forum 2Leto Solutions honored as 1 of top 10 best companies at 2014 Texas Life Science Forum 3Vinegar kills tuberculosis and other mycobacteria 2Vinegar kills tuberculosis and other mycobacteria 3
... 2D polyacrylamide gel electrophoresis (2D-PAGE) with biological ... core technology platform for proteomic analysis. 2D-PAGE ... samples limited only in the dynamic range ... proteins. Quantitative image based analysis of separated ...
... PLAU N-term Antibody This antibody is generated ... synthetic peptide selected within aa 50~150 of ... in PBS with 0.09% (W/V) sodium azide. ... G column and eluted out with both ...
... is a recombinant 177 amino acid polypeptide ... mature human MT1-MMP. Produced by activation ... purified from E. coli periplasm. SPECIFIC ... is = 140 mU/mg, where 1 U ...
... compact, lightweight, high current power supply capable of ... It is an excellent choice for PAGE, SDS-PAGE ... also ideal for all types of electroblotting applications.A ... automatically end a run and wil automatically accrue ...
Biology Products: