Skip to main content

Microcide Agrees to Acquire Althexis; Joint Company Receives $60M in Financing

NEW YORK, July 30 – Microbial genomics company Microcide Pharmaceuticals said Monday it had signed an agreement to acquire Althexis in an effort to step-up its drug discovery capabilities.

Microcide of Mountain View, Calif., and Althexis of Waltham, Mass., also announced that the combined company would receive $60 million in a private round of financing. Prospect Venture Partners, New Enterprise Associates, and Schroder Ventures are particpating in the placement.

Microcide has developed VALID, a system for studying microbial genomics, while Althexis uses structure-based methods, known as ACTT, to validate drug targets.

"The integration of Althexis' proprietary ACTT technology with Microcide's VALID platform will help speed target validation and new compound discovery, while Althexis' SBDD will help guide our multiple lead-optimization efforts to achieve better drug candidates, sooner," Jim Rurka, CEO of Microcide, said in a statement.

Mark Skaletsky, formerly chairman and CEO of Althexis, will become chairman and CEO of Microcide. Rurka will remain a member of Microcide’s board of directors. 

Under the terms of the agreement, Microcide will issue about 5.3 million shares of its common stock for all of the outstanding shares of Althexis. The deal is valued at approximately $22.2 million, based on Microcide’s Friday closing price of $4.19.

The Scan

And For Adolescents

The US Food and Drug Administration has authorized the Pfizer-BioNTech SARS-CoV-2 vaccine for children between the ages of 12 and 15 years old.

Also of Concern to WHO

The Wall Street Journal reports that the World Health Organization has classified the SARS-CoV-2 variant B.1.617 as a "variant of concern."

Test for Them All

The New York Times reports on the development of combined tests for SARS-CoV-2 and other viruses like influenza.

PNAS Papers on Oral Microbiome Evolution, Snake Toxins, Transcription Factor Binding

In PNAS this week: evolution of oral microbiomes among hominids, comparative genomic analysis of snake toxins, and more.