Galapagos buys U.K. biotech for $1.6M in cash

Cangenix, a gene-to-structure biotech firm that offers drug discovery services, has been acquired by Galapagos for $1.6 million upfront plus more than $700,000 in potential milestone fees. Galapagos said Cangenix's technology would complement its structure-based drug discovery unit, Argenta. "The assets and expertise of Cangenix really address a growing client need at Argenta. We look forward to extending and expanding this business," Galapagos CEO Onno van de Stolpe said.

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Pharmaceutical Business Review Online · PharmaTimes (U.K.)

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