Thermo Fisher Scientific acquisition of Olink is enhancing its proteomics capabilities
Through the acquisition, Olink will become a part of Thermo Fisher's Life Sciences Solutions business
Thermo Fisher Scientific has successfully acquired Olink Holding, a provider of advanced proteomics solutions based in Sweden. The transaction, valued at around $3.1 billion, was finalized on July 10, 2024, as stated in a press release by the company. Olink will become part of Thermo Fisher's Life Sciences Solutions segment through the transaction.
Thermo Fisher revealed its intention to purchase Olink in October 2023 for $26.00 per common share in cash, totaling around $3.1 billion. Thermo Fisher now has access to Olink's exclusive Proximity Extension Assay (PEA) technology through this acquisition. PEA provides high-throughput protein analysis services for quantitative polymerase chain reaction and next-generation sequencing readout systems available in the market. The technology has a vast collection of over 5300 validated protein biomarker targets.
Olink is committed to enhancing the comprehension of human biology through the rapid adoption of advanced proteomics techniques and delivering exceptional data quality on a large scale. Thermo Fisher's extensive knowledge in life sciences, worldwide presence, and track record of operational success will create valuable prospects for customers and colleagues, while also delivering immediate benefits to our shareholders," stated Jon Heimer, CEO of Olink, in the company's press release from October 2023.
In the company's recent press release, Marc N. Casper, chairman, president, and chief executive officer of Thermo Fisher, emphasized the importance of protein research in advancing our knowledge of human biology. This understanding will enable the industry to fulfill the potential of precision medicine.
"Olink's solutions for proteomics perfectly complement our existing mass spectrometry and life sciences offerings, bringing proven and transformative benefits." Through our advancements in the rapidly expanding field of proteomics, we aim to empower scientists and researchers worldwide to make significant strides in their discoveries and scientific advancements. This will not only benefit the scientific community but also generate substantial value for our shareholders," Casper stated in the press release.
Thermo Fisher has successfully completed the Olink acquisition, which is a significant milestone for the company. This achievement comes after Thermo Fisher's announcement in June 2024 about the opening of a new 72,000-square-foot facility at its Middleton, Wis., site through its Pharmaceutical Product Development clinical research business. The company's clinical research laboratory has been expanded, allowing for increased analytical capacity in the chemistry, manufacturing, and controls.
The new facility at the Middleton site features specialized areas for liquid chromatography–mass spectrometry (LC–MS) and protein characterization, as well as two molecular suites with labs for pre- and post-amplification. Additionally, there are two extra labs available for general use. The website covers a wide range of topics related to drug development, including small molecules, biologics, biopharmaceuticals, device testing, cell and gene therapy, and MS analysis.
Meanwhile, there is an increasing demand for easily understandable proteomics in the bio/pharma industry, as proteomics are essential for analyzing and ensuring the quality of drugs during the discovery and development process. Having a solid grasp of molecular sequences is crucial when dealing with biologics. It is essential to comprehend these sequences at every stage of development in order to evaluate the properties of the molecule and ensure that the desired characteristics are incorporated into the investigational drug.
Source: Thermo Fisher
