Wednesday, 22 May 2024


Thermo Fisher buys Olink to enhance capabilities in high-growth proteomics market

19 October 2023 | News

Accelerating protein biomarker discovery and providing strong synergy opportunities

image credit- shutterstock

image credit- shutterstock

American company Thermo Fisher Scientific Inc. and Sweden-headquartered Olink Holding AB have announced that their respective boards of directors have approved Thermo Fisher’s proposal to acquire Olink for $26.00 per common share in cash, representing $26.00 per American Depositary Share (ADS) in cash. This represents a premium of approximately 74% to the closing price of Olink’s American Depositary Shares that trade on NASDAQ on October 16, 2023, the last trading day prior to the announcement of the transaction. Thermo Fisher will commence a tender offer to acquire all of the outstanding Olink common shares and all of the American Depositary Shares. The transaction values Olink at approximately $3.1 billion which includes net cash of approximately $143 million.

Olink is on track to deliver over $200 million of revenue in 2024 and, as part of Thermo Fisher, is expected to grow mid-teens organically. Upon completion of the acquisition, Olink will become part of Thermo Fisher’s Life Sciences Solutions segment.

Olink offers leading solutions for advanced proteomics discovery and development, enabling biopharmaceutical companies and leading academic researchers to gain an understanding of disease at the protein level rapidly and efficiently. Olink’s proprietary technology, Proximity Extension Assay (PEA), provides high throughput protein analysis for the very large installed base of qPCR and next-generation sequencing readout systems in the market. With a library of more than 5,300 validated protein biomarker targets, adoption of the technology has been very strong, leading to over 1,400 scientific publications. 

Sign up for the editor pick and get articles like this delivered right to your inbox.

Editors Pick
+Country Code-Phone Number(xxx-xxxxxxx)


Comments

× Your session has been expired. Please click here to Sign-in or Sign-up
   New User? Create Account