Galapagos to acquire drug discovery service operations of Discovery Partners for $5.4 million

By Lisa Kerner

Charlotte, N.C., June 13 - Discovery Partners International, Inc. has entered into a definitive purchase agreement to transfer all of its discovery service operations to Galapagos for $5.4 million in cash, according to a company news release.

The transaction is expected to close in July.

All four of the current Discovery Partners sites (San Diego; South San Francisco, Calif.; Basel Switzerland; Heidelberg, Germany) will remain fully operational and will be merged into Galapagos' drug discovery services division, which will be known as BioFocus Discovery Partners International.

The acquisition also includes Discovery Partners' Japanese sales office in Tokyo.

Under the agreement, Discovery Partners will sell to Galapagos all of the outstanding capital stock or equity interests of its direct subsidiaries Discovery Partners International AG, ChemRx Advanced Technologies, Inc., Xenometrix, Inc. and Discovery Partners International, LLC.

"This acquisition will position BioFocus Discovery Partners as a top five player worldwide in drug discovery services and provides Galapagos with a strong presence in the United States," chief operating officer Onno van de Stolpe said in the release.

Belgium-based Galapagos is a publicly traded, genomics-based drug discovery company.

Discovery Partners is a small molecule and natural product-based drug discovery company based in San Diego.

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