Abcam Plc Jonathan Milner, the founder of the biotechnology company he founded 25 years ago, is pushing to improve performance.
Milner Jonathan: SC 13D”>filing Monday, which confirmed an earlier in report.
According to a source familiar with the situation who declined to identify themselves because of the private nature of the information, he has already had several meetings with the company. He is also seeking a seat on the board.
Milner, a Cambridge-based Abcam investor, has a stake in the company of approximately 6.4%. The filing revealed this. According to data, this would make Milner the third largest stockholder of Abcam.
Abcam shares were up by 2% during premarket trading. Stocks have gained 4.7% this year in New York, giving Abcam a market cap of $3.7 billion. The Nasdaq Composite Index, the index that is used as a benchmark, has gained 17% over the same period. Abcam’s peak value was $5.5 billion in February 2021.
Abcam, sometimes called the “Amazon” of antibodies, is an online store that sells a wide range of research tools for life scientists. These include reagents, enzymes and imaging equipment.Milner founded Abcam back in 1998. He helped the company grow through its initial IPO, and served as CEO up until 2014 Then he became the deputy chairman before eventually stepping down as chairman in October 2020. Since then, he has focused on investing in high-tech and life sciences startups in the UK.
Abcam, which was first listed in London on the AIM market, is trading at Nasdaq and has dropped last year’s UK listing.
A representative from Milner did not provide a statement, while Abcam was unavailable for comment after business hours.