The deal, financial terms of which were not disclosed, extends Precos provision of oncology focused drug discovery, modelling and cell line development services by five years.
The two UK companies teamed up to provide contract cancer drug development in February 2009, with the idea being that the combination of Argenta’s range of chemistry services with Precos’ capabilities would create a broad offering.
Argenta managing director John Montana welcomed the deal extension and suggested the partnership will continue to provide benefits for pharmaceutical industry customers.
“Through this alliance our pharmaceutical clients are able to benefit from seamless access to Precos' models and scientists. We are excited to have PRECOS as a key extension of our team, working in partnership with our experienced oncology drug discovery scientists."
This was echoed by Precos CSO Sue Watson, who said: "Argenta has an excellent reputation for providing first class contract drug discovery services to the global pharmaceutical industry; especially in oncology.”
Belgium, where Argenta’s owner Galapagos NV is based, has proved to be an important source of business for Precos in recent months.
In November Precos, which was only spun out from the University of Nottingham last summer, signed a multi year global services agreement with Johnson & Johnson’s Belgium-headquartered Janssen Pharmaceutica unit.
That deal will see Precos supply Janssen with clinical tumour material and provide model development and target validation and candidate efficacy analysis service for its discovery and biomarker programmes.