Life sciences giant Thermo Fisher on Wednesday closed its $3.1 billion deal for Olink, adding protein analysis to its drug discovery tools in a move that’s likely to boost the growing proteomics industry.
The deal, announced last October, was cleared on Monday by the UK’s Competition and Markets Authority after the agency initiated an antitrust probe. Thermo Fisher previously won approval from competition reviewers in Germany and Iceland.
The transaction is a boon to proteomics, a field that’s long been held back by the difficulty in determining the makeup and function of the human body’s 20,000 proteins. Olink and other providers have developed better instruments, providing researchers with a way to develop new tests and medicines.
“Protein research is key to advancing our understanding of human biology and delivering on the promise of precision medicine,” Thermo Fisher CEO Marc Casper said in a news release announcing the close of the deal. “Olink’s proven and transformative solutions for proteomics are highly complementary to our leading mass spectrometry and life sciences offerings.”
Last year, Olink competitor SomaLogic completed a $1 billion merger with Standard BioTools.