DiscoveRx acquires BioSeek
Through the acquisition, DiscoveRx will gain BioSeek's phenotypic screening technology which improves the success rate of pharmaceutical research and development by integrating primary cell profiling into the drug discovery process. The proprietary BioMAP systems incorporate primary human cell-based disease models that generate predictive biological activity profiles for potential drugs. As a result, the technology drives the selection and development of new drug candidates and safer chemicals.
BioSeek, formerly part of Asterand, has an established customer and partner base of pharmaceutical and biotech customers. Recently it was a recipient of a $46,770,000 grant award from EPA Toxcast program for the use of BioSeek's human primary cell assay platform to help predict the biological activity and potential toxicity of up to 60,000 additional samples, including environmental chemicals, pesticides, failed pharmaceuticals and nanomaterials.
"The integration of Bioseek provides two new capabilities to DiscoveRx: expertise in primary cell disease models, as well as a highly differentiated compound characterization service," said Pyare L. Khanna, president and CEO of DiscoveRx. “These new capabilities further strengthen our position as a premier drug discovery solution provider that develops and commercializes high-value products and specialized services."
The acquisition represents another significant step in DiscoveRx's strategy to provide next generation drug discovery solutions through internal development and strategic acquisitions. The management teams of both organizations are committed to maintaining BioSeek's position as a provider of high value services and ensuring a seamless transition during integration.
The financial terms of the deal are not being disclosed.