AbCellera Biologics acquired TetraGenetics, Inc. for $12.5 million upfront cash (plus $12.5 million held in escrow) and up to $37.5 million in milestone payments; ~$48.0 million total acquisition-date consideration, a transaction completed in September 2021, structured as all cash — upfront payment plus technical, development and commercial milestone payments.
TetraGenetics, Inc. operates in Antibody-discovery platform technology, is based in Boston, Massachusetts, United States. TetraGenetics operates a proprietary platform that produces recombinant human ion channels, G protein-coupled receptors (GPCRs) and other transmembrane proteins using the protist Tetrahymena thermophila. These difficult-to-produce membrane proteins are validated but historically intractable drug targets.
AbCellera acquired TetraGenetics to add a reliable source of complex, properly folded transmembrane proteins to its stack, enabling antibody discovery against high-value targets that are otherwise very hard to produce as antigens.
A differentiated protein-expression platform able to generate highly pure, complex transmembrane proteins at the scale needed to support antibody discovery against ion channels and GPCRs. Optimized antigen source integrated into AbCellera's antibody-discovery stack, unlocking programs against ion channels, GPCRs and other transmembrane targets. Operated as an AbCellera company
AbCellera is committed to investing in teams and technologies that have the potential to create new therapeutic opportunities, drive more value in our partnership business, and bring new therapies to patients.Carl Hansen, Ph.D., CEO, AbCellera
TetraGenetics was founded to target complex membrane proteins, many of which historically have been intractable drug targets. This acquisition recognizes our team's innovation in creating new technologies to address these therapeutically important classes of proteins.Doug Kahn, CEO, TetraGenetics
Advisory firms were not disclosed for this transaction.