Inpharmatica acquires ArQule assets
Inpharmatica, a leading informatics-driven drug discovery company, has entered into an agreement with ArQule to acquire certain of ArQule (UK)'s assets, to take an assignment of its 10,000ft2 Cambridge laboratories and to license certain of its intellectual property. Fifteen of ArQule (UK)'s former staff will join Inpharmatica following the deal.
Inpharmatica, a leading informatics-driven drug discovery company, has entered into an agreement with ArQule to acquire certain of ArQule (UK)'s assets, to take an assignment of its 10,000ft2 Cambridge laboratories and to license certain of its intellectual property. Fifteen of ArQule (UK)'s former staff will join Inpharmatica following the deal.
When completed, the agreement with ArQule will provide Inpharmatica, via its Cambridge site, with world leading technology and discovery expertise in the vital area of drug lead optimisation. Upon completion of the transaction, Inpharmatica will have further enhanced the capabilities of PharmaCarta, the Company's chemogenomics technology platform, moved its drug discovery capabilities downstream and obtained access to fully commissioned chemistry facilities, sufficient to advance its internal discovery programmes to pre-clinical phase. Inpharmatica intends to apply the newly acquired technology to the provision of in silico and in vitro ADME screening services, supported by specialist ADME consultancy, for biotechnology and pharmaceutical companies as well as applying the technology and expertise to its internal discovery programmes.
Dr. Malcolm Weir, chief executive officer of In-pharmatica, said: 'We are delighted with this transaction and particularly pleased that the Cambridge team elected to join Inpharmatica. They bring a wealth of drug industry experience and expertise in an area that is proving to be critical in improving r&d productivity.
'The technology accessed through this agreement and the team we have recruited to support that technology improves our offering to clients and our capability for internal discovery, making PharmaCarta a technology platform that extends from gene through optimised drug.'
Dr Mike Tarbit, former managing director of ArQule (UK) and now senior vice president - preclinical r&d at Inpharmatica, commented: 'Joining Inpharmatica offers us a very exciting opportunity to work with a cutting edge company and incorporate a wider spectrum of the factors necessary for smart library design and lead optimisation into our technology platform. The availability of chemistry laboratories on the Cambridge site also provides significant scope for growth as it offers synthesis capability to drive Inpharmatica's transition to a highly effective drug discovery operation.'