Thermo Fisher Scientific Completes Olink Acquisition, Boosts Proteomics Capabilities

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Thermo Fisher Scientific has completed its acquisition of Olink Holding, a Sweden-based provider of next-generation proteomics solutions, in a transaction that values Olink at approximately $3.1 billion, according to a July 10, 2024 company press release. Under the transaction, Olink will be integrated into Thermo Fisher's Life Sciences Solutions segment.

Thermo Fisher announced its plans to acquire Olink in October 2023 for $26.00 per common share in cash, or approximately $3.1 billion (1). The acquisition gives Thermo Fisher access to Olink’s proprietary technology, Proximity Extension Assay (PEA). PEA offers high-throughput protein analysis for quantitative polymerase chain reaction and next-generation sequencing readout systems on the market. The technology holds a library of more than 5300 validated protein biomarker targets (1).

“Olink is dedicated to improving the understanding of human biology by accelerating the use of next-generation proteomics and providing industry-leading data quality at unprecedented scale. Thermo Fisher’s deep life sciences expertise, global reach, and proven operational excellence will enable significant opportunities for both customers and colleagues, while also providing immediate value to our shareholders,” said Jon Heimer, CEO of Olink, in the October 2023 company press release (1).

Marc N. Casper, chairman, president, and chief executive officer of Thermo Fisher, said in the company’s current press release that protein research is key to advancing the understanding of human biology, which will allow the industry to deliver on the promise of precision medicine.

“Olink’s proven and transformative solutions for proteomics are highly complementary to our leading mass spectrometry and life sciences offerings. By expanding our capabilities in the high-growth proteomics market, we will enable scientists and researchers around the globe to meaningfully accelerate discovery and scientific breakthroughs while delivering significant value to our shareholders,” Casper said in the release.

The completion of the Olink acquisition follows Thermo Fisher’s earlier announcement in June 2024 that it has opened a new 72,000-square-foot facility at its Middleton, Wis., site via its Pharmaceutical Product Development clinical research business (2). The new facility expands the company’s clinical research laboratory and increases that lab’s analytical capacity in the chemistry, manufacturing, and controls.

The new facility at the Middleton site includes dedicated space for liquid chromatography–mass spectrometry (LC–MS) and protein characterization, two molecular suites with pre- and post-amplification labs, and two additional labs for general use. The site focuses on small molecules and biologics across all phases of drug development, including biopharmaceuticals, device testing, cell and gene therapy, and MS analysis (2).

Meanwhile, there is a growing need for accessible proteomics in the bio/pharma industry as proteomics play a crucial role in the drug discovery and development process from an analytical and quality control perspective (3). A sequence-level understanding of molecules is required when working with biologics, and it is important to have an understanding at the sequence-level during each stage of development to not only assess the molecule’s properties but also to instill the desired properties in the investigational drug (3).

References

1. Thermo Fisher Scientific. Thermo Fisher Scientific to Acquire Olink, a Leader in Next-Generation Proteomics. Press Release, Oct. 17, 2023.
2. Thermo Fisher Scientific. Thermo Fisher Scientific Expands Clinical Research Laboratory in Wisconsin. Press Release, June 18, 2024.
3. Moree, B. Biologics Quality Control: The Growing Need for Accessible Proteomics. BioPharm International 2024, 37 (3), 30–33.

Source: Thermo Fisher Scientific