BIOBASE Acquires the Proteome Subsidiary of Incyte
Bioinformatics unit produces the BioKnowledge Library product line
BIOBASE announced the successful acquisition of Proteome Inc., a wholly-owned subsidiary of Incyte Corporation. Proteome Inc. is the producer of the BioKnowledge Library (BKL), a database composed of six distinct volumes, each containing fundamental biological information about proteins and focused on pharmaceutically relevant targets and signaling pathways in biological research.
BIOBASE's acquisition of Proteome and BKL broadens its product line, expands its presence in the United States and Canada, and clearly positions the company as a leading international provider of biological databases. By incorporating the American branch office, BIOBASE will increase its company size threefold. The future German-American company, BIOBASE, will continue to maintain its head office in Wolfenbuttel (Germany).
Financial terms were not disclosed. The transaction was financed by a fund managed by the private equity firm, AVIDA.
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