NEW YORK, Dec. 3 (GenomeWeb News) - Kyorin Pharmaceutical of Tokyo will buy proteomics company ActivX Biosciences for $21 million, the company said yesterday.
Kyorin will create a US subsidiary and merge it with ActivX, which will then become a wholly owned subsidiary of Kyorin. An acquisition date was not disclosed.
Kyroin and ActivX, of La Jolla, Calif., have collaborated since 2002 in a Type II diabetes discovery program, and in January expanded their activities to include metabolic disorders. ActivX also has collaborations with Pfizer, Gilead, and an undisclosed additional pharma partner.
ActivX uses a core proteomics technology, licensed from Scripps, that consists of fluorescent chemical affinity probes that bind to the active sites of a specific class of proteins.