Galapagos acquires Cangenix, a structure-based drug discovery company

18-Jan-2013 - United Kingdom

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.

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