Proteome to acquire Xzillion

Published: 1-Jul-2002


Proteome Sciences is to acquire Xzillion Proteomics, a division of Aventis Research and Technologies in Germany, for £12.6m (€19.6m).

Proteome Sciences plans to fund the deal, which was due to complete by the end of June, by issuing 18m new ordinary shares, following which Aventis R&T will own almost 16% of the former's enlarged share capital.

Xzillion's focus is on its protein sequencing tags technology, which it says improves speed, sensitivity, protein coverage, accuracy and cost efficiency in the field of high throughput protein expression. Proteome Sciences hopes that the acquisition will accelerate the development and commercialisation of novel diagnostic, prognostic and therapeutic applications.

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