Precision for Medicine, a subsidiary of Precision Medicine Group, has acquired Applied Immunology to expand its laboratory services in cell-based and immunoassays and to provide state-of-the-art laboratory access for its west coast biotechnology clients.
The acquisition enables Precision for Medicine to strengthen its innovative and targeted therapeutics across all areas from immunology to rare diseases to biosimilars, from research to post approval.
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The total sale consideration for the transaction will be approximately $50m, of which $11.7m will be paid at the closing, $9.07m through shares issue, $6m at the start of phase III and $23.4m based on sales milestones.
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By GlobalDataStifel Nicolaus and Numis Corporation are the advisors to the acquirer.
Image: Precision for Medicine will expand its laboratory services in cell-based and immunoassays. Photo: Courtesy of Precision for Medicine.
