Galapagos acquires Cangenix, a structure-based drug discovery company
Galapagos NV (GLPG) and Cangenix Ltd announced that Galapagos has acquired Cangenix to add structure-based drug discovery to the Argenta service offering.
Under the terms of the acquisition agreement, Galapagos will pay a total cash consideration of £1 million, with a further £440,000 potential earn out payment contingent upon achievement of certain conditions.
Argenta will integrate all of Cangenix's assets, know-how, personnel and service contracts. The activities will be added to Argenta's capabilities in hit finding and medicinal chemistry. The Cangenix team of 4 staff will join Argenta but will continue to operate the platform in its premises in Canterbury, securing a smooth transition of the business.
Most read news
Organizations
Other news from the department business & finance
Get the life science industry in your inbox
From now on, don't miss a thing: Our newsletter for biotechnology, pharma and life sciences brings you up to date every Tuesday and Thursday. The latest industry news, product highlights and innovations - compact and easy to understand in your inbox. Researched by us so you don't have to.