Integrated service offering demonstrating value
Abzena announced strong H117 results with overall underlying revenue growth of 46%. This growth resulted from an increase in new customers and expansion of the services provided to existing customers, which starts to demonstrate the value in its integrated service offering. Despite this we have reduced our valuation to £112m, primarily as a result of the discontinuation of simtuzumab (Abzena inside product). However, we note the potential for upside as the company continues to grow its integrated service business and as other Abzena inside products progress.Abzena is providing a range of complementary services and technologies for the selection, development and manufacture of biopharmaceuticals.
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