Enzo to expand in Europe with Belgian distributor buy-out

By Dr Matt Wilkinson

- Last updated on GMT

Related tags Polymerase chain reaction

Enzo Life Sciences has signed a letter of intent to acquire Belgian
life science tools distributor 10P's BVBA for an undisclosed
amount.

Enzo Biochem's subsidiary, Enzo Life Science has marked its intent to become a larger player in the worldwide life science market with the proposed acquisition of Belgian life science tools distributor 10P's BVBA. No financial details about the acquisition of the privately-held Belgian firm have been disclosed, although it has been stated that all staff will be retained. The acquisition of 10P's BVBA will enable the US-based firm to establish a local presence in the Benelux countries and to further its ambitions of becoming a major player in the life science marketplace. "This proposed acquisition is one more step in our plan to build Enzo Life Sciences into a major participant in the research products global marketplace,"​ said Barry Weiner, President of Enzo. "Our intention is to continue to evaluate and consummate additional acquisitions that fit in with the infrastructure we have built for this division." ​ Enzo recently appealed​ a US District courts decision to dismiss patent infringement claims against Applied Biosystems (ABI) in a summary judgement. The technology in dispute is used in ABI's Taqman Real-Time PCR (polymerase chain reaction) product lines which accounted for a third ($704.6m) of ABI's $2.093bn revenues in 2007. The proposal to buy 10P's follows the company's acquisition of Axxora Life Sciences for $16.3m (€11.4m) earlier the year in May. In 2006 Axxora had over 60 employees worldwide with subsidiaries in the US, Switzerland, Germany and the UK. "10 P's represents a strategic step in our plan to strengthen our global direct sales effort, which is being led by our recent Axxora acquisition,"​ said Dr Carl Balezentis, President of Enzo Life Sciences. "10 P's will not only provide us with the opportunity to improve and expand relationships with the end-users of our products, but also affords us with an important local presence in a key European region. In addition, 10 P's enjoys exclusive relationships with other reagent manufacturers that will provide Enzo with the opportunity to further expand our product line."

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