Ventana Acquires Spring BioScience

Ventana Medical Systems announced it has acquired Spring BioScience, a developer and supplier of next-generation rabbit monoclonal antibodies and other reagents, for $28.9 million in cash.

Ventana also will pay Spring shareholders up to $11.7 million over the next two years as Spring achieves specific scientific milestones, the company said. Spring BioScience will be operated as a wholly owned subsidiary of Ventana, it added.

Ventana said it expects the acquisition to streamline its supply chain, reducing the company’s reliance on external suppliers.

Ventana recently rejected a $3 billion hostile takeover bid from Roche Holding AG.