), of New York, NY, said Wednesday that it would buy Axxora Life Sciences
, a private company based in San Diego that makes life sciences research products, for $16.3 million in cash. Once the deal goes through, Axxora will become a wholly owned subsidiary of Enzo’s Enzo Life Sciences subsidiary, which makes labeling and detection products for gene sequencing and genetic analysis.
Axxora’s senior management team, including heads of all business units, will stay on board after the acquisition.
Axxora, which had revenues of approximately $16 million and 60 employees in 2006, develops, manufactures and distributes reagents addressing immunological and cellular research and the biochemical industries. Enzo posted a loss of $15.7 million on revenue of $39.8 million in 2006, and will look to the Axxora acquisition to bolster its international distribution capabilities. Axxora’s two main divisions — ALEXIS Biochemicals and Apotech – are based in Switzerland.
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