Eurofins Expands Its Offering and Footprint in Drug Discovery Services with the Acquisition of DiscoverX
July 31 2017 - 1:35AM
Business Wire
Regulatory News:
Eurofins Scientific (EUFI.PA) (Paris:ERF), a world leader
in providing analytical support to the global pharmaceutical
industry, announces that it has signed an agreement to acquire
DiscoverX, a leader in drug discovery products and services across
all stages of discovery from target identification and lead
discovery to preclinical and beyond. The transaction is expected to
close in the coming weeks, upon fulfillment of customary closing
conditions.
DiscoverX is an innovative company that develops, manufactures,
and commercializes reagents, complete cell-based assay kits,
profiling and screening services as well as other disruptive
solutions for the drug discovery, screening, and life science
markets. The company has over 15 years’ experience in drug
discovery and development leveraging on the Enzyme Fragment
Complementation (EFC) technology and has become a reputable market
leader in GPCR screening applications. EFC technology is a proven,
established screening platform in most major pharmaceutical
companies. With over 900 stable cell lines, 4500 drug discovery
assays and kits, and both custom and off-the shelf services,
DiscoverX is one of the most trusted and utilized drug discovery
portfolios in the world. The company employs 137 staff in four
locations in Fremont, San Diego, San Francisco (California) and
Birmingham (England).
The combination of Eurofins Pharma Discovery Services and
DiscoverX provides the pharmaceutical and biotech industries with a
partner of choice for end-to-end drug discovery services, enabling
customers to improve research productivity and effectiveness of
their screening, lead optimization and structure-activity
relationships (SAR) campaigns, thus accelerating the discovery and
development of new drugs. In addition, DiscoverX’s KINOMEscan
platform and epigenetics services, combined with Eurofins Pharma
Discovery’s kinase profiling services would result in the largest
available portfolio of kinase products and services in the market.
Furthermore, it provides researchers with a comprehensive
technology platform for assessment of drugs to kinases, the most
widely evaluated drug target.
DiscoverX’s expertise complements Eurofins discovery
pharmacology capabilities following the previous acquisitions of
Panlabs, Cerep, EMD Millipore Discovery and Development Solutions
and Villapharma. The company is well-positioned to capitalize on
the growing R&D outsourcing market in the USA and provides a
gateway to the Asia-Pacific region.
Comment from Dr. Todd R Nelson, DiscoverX’s CEO: Joining
Eurofins creates significant value for our clients and employees.
We are excited to combine our respective portfolios and strengthen
our position in the expanding global R&D outsourcing market. We
look forward to working closely with the Eurofins team to ensure a
smooth transition and integration.”
Comment from Dr. Gilles Martin, Eurofins’ CEO:
“DiscoverX adds another spectrum of new advanced services that
Eurofins can now offer to its clients. This transaction is another
demonstration of Eurofins’ commitment to provide the most
comprehensive portfolio of laboratory services in the discovery
pharmacology field which enjoys a strong outsourcing growth
trend.”
For more information, please visit
www.eurofins.com.
Notes for the editor:
Eurofins – a global leader in bio-analysis
Eurofins Scientific through its subsidiaries (hereinafter
sometimes “Eurofins” or “the Group”) believes it is the world
leader in food, environment and pharmaceutical products testing and
that it is also one of the global independent market leaders in
certain testing and laboratory services for agroscience, genomics,
discovery pharmacology and for supporting clinical studies. In
addition, Eurofins is one of the key emerging players in specialty
clinical diagnostic testing in Europe and the USA. With over 30,000
staff in 375 laboratories across 41 countries, Eurofins offers a
portfolio of over 130,000 analytical methods for evaluating the
safety, identity, composition, authenticity, origin and purity of
biological substances and products, as well as for innovative
clinical diagnostic. The Group objective is to provide its
customers with high-quality services, accurate results on time and
expert advice by its highly qualified staff.
Eurofins is committed to pursuing its dynamic growth strategy by
expanding both its technology portfolio and its geographic reach.
Through R&D and acquisitions, the Group draws on the latest
developments in the field of biotechnology and analytical chemistry
to offer its clients unique analytical solutions and the most
comprehensive range of testing methods.
As one of the most innovative and quality oriented international
players in its industry, Eurofins is ideally positioned to support
its clients’ increasingly stringent quality and safety standards
and the expanding demands of regulatory authorities around the
world.
The shares of Eurofins Scientific are listed on the Euronext
Paris Stock Exchange (ISIN FR0000038259, Reuters EUFI.PA, Bloomberg
ERF FP).
Important disclaimer:
This press release contains forward-looking statements and
estimates that involve risks and uncertainties. The forward-looking
statements and estimates contained herein represent the judgement
of Eurofins Scientific’ management as of the date of this release.
These forward-looking statements are not guarantees for future
performance, and the forward-looking events discussed in this
release may not occur. Eurofins Scientific disclaims any intent or
obligation to update any of these forward-looking statements and
estimates. All statements and estimates are made based on the
information available to the Company’s management as of the date of
publication, but no guarantee can be made as to their validity.
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version on businesswire.com: http://www.businesswire.com/news/home/20170730005085/en/
Investor RelationsEurofins ScientificPhone: +32 2 766
1620E-mail: ir@eurofins.com
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