ABCL - AbCellera acquires TetraGenetics for enhancing capabilities to generate antibodies

AbCellera (ABCL -5.7%) acquires TetraGenetics, a biotechnology company with a proprietary platform for generating recombinant human ion channels and other transmembrane proteins. It will be an all-cash transaction that includes an upfront payment, the potential for payments based on the achievement of technical milestones, and additional development and commercial milestone payments related to successfully developed therapeutics. “TetraGenetics was founded to target complex membrane proteins, many of which historically have been intractable drug targets. This acquisition recognizes our team’s innovation in creating new technologies to address these therapeutically important classes of proteins, and we’re excited to combine each company’s capabilities to discover new antibody treatments.” said Doug Kahn, CEO. Neutral rating on the stock by SA contributor who writes: 'AbCellera Biologics: I Was Wrong'

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AbCellera acquires TetraGenetics for enhancing capabilities to generate antibodies