BioCentury
ARTICLE | Company News

Argenta Discovery, Galapagos deal

February 8, 2010 8:00 AM UTC

Galapagos acquired Argenta's contract research business for €16.5 million ($22.9 million) in cash. Galapagos said the deal will expand its existing drug discovery services. Argenta reported 2009 revenue of €14 million ($19.4 million). The contract research business, including the medicinal and computational chemistry, ADME/PK and respiratory model units, will continue as a unit of Galapagos under the Argenta name.

Argenta's respiratory development programs will continue as a private company called Pulmagen Therapeutics Ltd. Pulmagen investors include MVM Life Science Partners, Forbion Capital Partners, Encore Ventures, TTP Venture Fund and Genavent Partners. The company said it received £25 million ($40 million) in funding. ...