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May 9, 2008

BIOMOL International Scooped Up by Enzo Biochem for $18M

  • Enzo Biochem acquired substantially all of the U.S. based assets of BIOMOL International and all of the stock of its two U.K. subsidiaries for $18 million ($15 million in cash and $3 million in unregistered stock) and earn-outs over the next two years. BIOMOL produces specialty life science products for the areas of signal transduction, lipid research, apoptosis, neuroscience, and drug discovery, with a research focus in the field of functional proteomics.

    "This acquisition is in line with our strategy to grow Enzo Life Sciences, backed by our extensive IP estate, both organically and through acquisition," says Barry Weiner, Enzo president. “Coupling BIOMOL with our acquisition of Axxora Life Sciences less than a year ago, we have succeeded in transforming Enzo Life Sciences into a global manufacturer and marketer of reagents and systems.”

    BIOMOL has annual revenues tracking nearly $11.5 million and annual growth of about 9%, according to Weiner. The company also has a strong record of revenue and profit growth and is expected to become accretive to Enzo's earnings, prior to purchase accounting adjustments, he adds.

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Scientifically Studying Ecstasy

MDMA (commonly known as the empathogen “ecstasy”) is classified as a Schedule 1 drug, which is reserved for compounds with no accepted medical use and a high abuse potential. Two researchers from Stanford, however, call for a rigorous scientific exploration of MDMA's effects to identify precisely how the drug works, the data from which could be used to develop therapeutic compounds.

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