Thermo Fisher acquires Olink in $3.1bn deal

The deal, first announced in October 2023, sees Thermo gain Olink’s analytical capabilities in diseases at the protein level through its proximity extension assay (PEA) technology. The acquisition, valued at $26 per share, includes net cash of approximately $96 million. Headquartered in Sweden, Olink will now form part of Thermo’s Life Sciences Solutions segment, the SEC filing said.

According to the firm, PEA enables high throughput combining specificity and scalability with 99.5% of 5,400+ protein biomarkers displaying no cross-reactivity, thus saving time and money.

“We are pleased to have obtained all regulatory approvals required for our acquisition of Olink and we look forward to completing the acquisition over the next few days,” a spokesperson for Thermo Fisher told BioProcess Insider.

The firm has completed Phase I clearance from the UK regulator Competition and Market Authority (CMA). Additionally, the acquisition was cleared by the German Federal Cartel Office in June 2024.

“We are excited to welcome Olink colleagues to Thermo Fisher. Protein research is key to advancing our understanding of human biology and delivering on the promise of precision medicine,” said Marc Casper, CEO of Thermo Fisher.

“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.”