Company expects to gain over $11 million in annual revenues.!--h2>
Enzo Biochem is taking over Assay Designs for $12.2 million in cash. Enzo will thus gain Assay Designs’ drug discovery research product line related to inflammation, immunity, oxidative and cellular stress, steroid and hormone biology, cell signaling, and bioenergetics.
“Assay Designs has annual revenues exceeding $11 million,” according to Carl Balezentis, president of Enzo Life Sciences. With the transaction, Enzo expects annual revenues to reach $100 million, adds Barry Weiner, president of Enzo Biochem.
Assay Designs’ kits and reagents for the detection and quantification of small molecules and proteins will complement Enzo Life Sciences’ labeling and detection products for gene sequencing, genetic analysis, and immunological research among others.
Through the acquisition, Enzo Life Sciences will have operations in New York, Pennsylvania, Michigan, and California as well as facilities in Switzerland, the U.K., and Belgium. The company will have over 50 distributors worldwide.