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Oct 31, 2013

Novus Buys Imgenex, "First Step" in Growing Catalog by Acquisition

  • Novus Biologicals said yesterday it acquired Imgenex, in a deal that expands the buyer’s catalog of more than 200,000 life sciences products with research reagents focused on innate and adaptive immunity, apoptosis, and cancer. The price was not disclosed.

    Imgenex’s products are designed to enhance the study of toll-like receptors or TLRs, a class of proteins that plays key roles in the innate immune system and the digestive system. The deal builds on a previous distribution partnership that had already made Imgenex products available on Novus’ website.

    In addition to that website, users of Imgenex products will be able through the acquisition to make use of Novus’ technical support network. Novus currently has offices in Europe and Canada, as well as a network of global distribution partners. 

    The company also ranks No. 4,068 on Inc. magazine’s 5000 list of fastest-growing privately held companies in the United States. Novus finished 2012 with revenue of $17.9 million, up 64% from $10.9 million in 2009.

    Novus has made the Inc. 5000 list for seven consecutive years.

    “The acquisition of Imgenex represents the first step in our strategy of expanding the Novus catalog of proprietary products through acquisition,” added Dave Eansor, svp of corporate development at Novus. “This acquisition further supports Novus Biologicals’ core mission of accelerating scientific discovery by developing and marketing unique products for life sciences.”

    In addition to TLRs, Novus’ products include primary antibodies, secondary antibodies, conjugated antibodies, proteins, peptides, isotype and loading controls, RNAi, lysates, stem cell lines, and antibody labeling kits.

    Novus president Karen Padgett founded the company in 1996, running it from home for about a year around the time her twins were born, to market antibodies for niche and emerging areas of research. Novus is a portfolio company of growth equity investor Mainsail Partners, which invested additional equity to support the company’s acquisition strategy.



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