AEterna Zentaris will get $2.6 million and the remaining is contingent on certain considerations.
Frontier Scientific bought Echelon Biosciences from AEterna Zentaris in a transaction valued at $3.2 million. This includes $2.6 million payable upfront and a $0.6 million in contingent consideration.
Frontier Scientific and Echelon focus on a common life science research customer base, which includes pharmaceutical companies and research universities around the world. The firms will maintain their current facilities in Logan and Salt Lake City, both in Utah.
Frontier Scientific supplies specialized biochemical synthetic organic chemistry. Echelon develops and markets reagents and assays to look inside the human cell at lipids-related signaling mistakes.
“Frontier Scientific and Echelon Biosciences both have outstanding personnel and complementary markets, technologies, facilities, and operations,” comments Jerry Bommer, president of Frontier Scientific. “The acquisition will lead to new technology development and growth opportunities.”