Argenta says the acquisition of company Cangenix Ltd was an opportunist addition to its structure-based drug discovery service.
The Belgian CMO, which is part of the Galapagos Group, will be able to offer immediate gene-to-structure biotechnology to its clients thanks to the $1.6m (£1m) deal.
The technology will allow Argenta customers to access similar services to those offered by BioFocus, another discovery services firm operated as part of Galapagos.
Onno van de Stolpe, CEO of Galapagos NV told Outsourcing-Pharma.com the main advantage of the acquisition is the fact that the skills, assets, technology and client base come as a package - already proven profitable - ready to be smoothly integrated into Argenta’s present capability.
Though not driven by specific clients, the purchase comes at a time of growth for Argenta. Van de Stope explained that Galapagos’ “service divisions continue to grow with a top and bottom line increase of 10-15 per cent per year.”
He anticipated that such growth would continue to push development at Argenta, as pharmaceutical companies continue to look externally for early drug discovery.
Structure-based drug discovery
The services now offered by Argenta have been used in the industry for over twenty-five years and are among the most widely used techniques in the fields of drug delivery discovery, design and lead optimisation.
By providing knowledge of the three-dimensional structure of specific drug targets, potential drugs can be designed more precisely and therefore aid the development of high-quality drug candidates.
The Cangenix deal adds a range of crystallographic and biophysical techniques to Argenta's present capabilities.