Galapagos Acquires Cangenix
News Jan 16, 2013
Galapagos NV and Cangenix Ltd have announced that Galapagos has acquired Cangenix to add structure-based drug discovery to the Argenta service offering.
Cangenix’s technology will augment Argenta’s ability to design new drugs and fill a growing client need.
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. The acquisition will contribute to the Argenta revenues and profit for 2013.
“We welcome the Cangenix team and their clients to the Galapagos group,” said Onno van de Stolpe, CEO of Galapagos. “The assets and expertise of Cangenix really address a growing client need at Argenta. We look forward to extending and expanding this business.”
“I am confident that Cangenix’s expertise in structure-based drug discovery services will enable Argenta to design better drugs for clients,” added Prof David Brown, CEO, Cangenix Ltd.
A team of researchers has discovered a combination of pharmaceutical drugs that not only increases healthy lifespan in the microscopic worm Caenorhabditis elegans (C. elegans), but also delays the rate of ageing in them, a finding that could someday mean longer, healthier lives for humans.READ MORE
2nd AI Pharma Innovation: Drug Discovery 2019 Summit
Feb 27 - Feb 28, 2019
5th International Congress on Epigenetics & Chromatin
Aug 22 - Aug 23, 2019
14th World Congress on Medicinal Chemistry and Drug Design
Jun 10 - Jun 11, 2019
International Conference on e-Health and Healthcare Innovations
May 08 - May 09, 2019