PerkinElmer to acquire antibody and reagent company BioLegend for $5bn

As a global provider of life science antibodies and reagents, privately-held BioLegend has more than 700 employees (primarily in the US) with estimated 2022 revenues of $380m and a manufacturing facility in San Diego, California.

Itprovides academic and biopharmaceutical customers with antibodies and reagents in high-growth areas such as cytometry, proteogenomics, multiplex assays, recombinant proteins, magnetic cell separation and bioprocessing. 

Heralding it as a ‘transformative’ deal for the company, PerkinElmer says the acquisition will ‘significantly scale [its] leading position in life science to accelerate legendary discoveries in precision medicine’, opening up new segments for the company’s existing life science franchise.

It eyes up BioLegend’s complementary portfolio in emerging, high-growth areas of biologics, cell and gene therapy, proteogenomics and recombinant proteins; alongside its work in antibody development.

BioLegend’s campus in San Diego will become PerkinElmer’s global Center of Excellence for research reagent content development.

The acquisition is expected to close by the end of 2021 subject to regulatory approvals and other customary closing conditions. The acquisition will be made through a combination of cash and stock.

We are excited to announce that PerkinElmer has reached an agreement to join with leading antibody & reagent provider BioLegend. As the largest M&A deal in PerkinElmer history, BioLegend will extend and transform our capabilities within life science: https://t.co/JaGiYqgVBCpic.twitter.com/1c4edtBZ3B

— PerkinElmer (@PerkinElmer) July 26, 2021