21st Sep 2015 09:33
LONDON (Alliance News) - Life sciences company Abzena PLC Monday said it expects services revenue for the half year to end-September to be "significantly higher" than in the previous year.
In a statement ahead of its annual general meeting, the company highlighted progress it has made in recent months. Two further composite human antibodies created for its partners have progressed into clinical development, it said, taking the total in clinical development to 10.
Earlier this month the company acquired San Diego-based biopharmaceutical development and manufacturing company PacificGMP for USD7.7 million, and said that since announced this deal, it has generated significant interest from many of its existing partners about using GMP's manufacturing capability.
"The recent acquisition of PacificGMP creates significant synergies with the existing business and demonstrates Abzena's commitment to growth," Chairman Ken Chunningham said in the statement.
Shares in Abzena were up 0.7% at 71.00 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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