Skip to main content
Premium Trial:

Request an Annual Quote

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

J&J Booster Support

A US Food and Drug Administration advisory panel has voted to support a booster dose of Johnson & Johnson's SARS-CoV-2 vaccine, according to the Los Angeles Times.

To Keep the Cases Moving

The president of the UK Royal College of Pathologists tells the Financial Times that more investment is needed to tackle a backlog of cases.

NAS Expels Archaeologist

Science reports Luis Jaime Castillo Butters' expulsion is the first of an international member from the US National Academy of Sciences.

PLOS Papers on Angelman Syndrome-Like Cases, Salmonella Paratyphi A, SARS-CoV-2 in Brazil

In PLOS this week: exome sequencing analysis of Angelman syndrome-like cases, genetic epidemiology of Salmonella Paratyphi A, and more.