Olink Holding

History

2023: Thermo Fisher Scientific bought Olink

On October 17, 2023, the American corporation Thermo Fisher Scientific, which produces scientific equipment, reagents and consumables for medical laboratories, announced the conclusion of an agreement on the acquisition of the Swedish company Olink Holding AB. The transaction amount is $3.1 billion, and it is planned to close it by mid-2024 after obtaining the necessary permits from regulators.

Olink provides products and services for advanced analysis of proteins that are key markers of a variety of diseases, which in turn helps in the development of new drugs. In particular, Olink has proprietary Proximity Extension Assay (PEA) technology, which provides the ability to double-recognize antibodies of target proteins, high-precision hybridization and DNA detection. Two read modes were implemented: next-generation sequencing (NGS) and quantitative chain polymerase reaction (qPCR).

Thermo Fisher Scientific announced the conclusion of an agreement on the acquisition of the Swedish company Olink Holding AB

The acquisition of Olink will allow Thermo Fisher Scientific Corporation to strengthen its position in the life sciences and proteomics (a field of molecular biology dedicated to the identification and quantitative analysis of proteins). Under the terms of the agreement, Olink shareholders will receive $26 for each security, representing a premium of approximately 74% to the closing price on October 16, 2023 - the last trading day before the deal was announced. The merger is overseen by lawyers Cravath Swaine & Moore LLP, Advokatfirman Vinge KB, J.P. Morgan Securities LLC, Goldman Sachs Bank Europe SE, Sweden Bankfilial and Baker & McKenzie.

The acquisition of Olink highlights the profound impact proteomics has as our clients continue to develop the areas of biological research and precision medicine, said Mark N. Casper, executive director of Thermo Fisher Scientific[1]

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