Skip to main content
Premium Trial:

Request an Annual Quote

Galapagos Closes Inpharmatica Acquisition

NEW YORK (GenomeWeb News) - Galapagos today said it has issued a final tranche of 113,378 shares to close its acquisition of informatics firm Inpharmatica.
 
Galapagos announced in December that it was acquiring the UK-based company in a share exchange over three tranches worth as much as €19.1 million ($25.4 million).
 
Galapagos plans to fold Inpharmatica into its drug discovery services business, BioFocus DPI.
 
Under the deal, Inpharmatica contributed C Preference shares to Galapagos in exchange for a total of 2,165,532 newly issued Galapagos shares.
 
A first tranche of 623,582 Galapagos shares was issued in December, and another trance of 613,270 shares was issued in April. The final tranche was issued yesterday. 
 
In the end, Galapagos issued 815,302 fewer shares than the maximum the agreement allowed, at a value of around €7 million, because Inpharmatica failed to meet certain milestones laid out in the purchase agreement.
  
Galapagos now has 20,592,766 shares outstanding, at a value of €111.9 million, the company said. 

Filed under

The Scan

Shape of Them All

According to BBC News, researchers have developed a protein structure database that includes much of the human proteome.

For Flu and More

The Wall Street Journal reports that several vaccine developers are working on mRNA-based vaccines for influenza.

To Boost Women

China's Ministry of Science and Technology aims to boost the number of female researchers through a new policy, reports the South China Morning Post.

Science Papers Describe Approach to Predict Chemotherapeutic Response, Role of Transcriptional Noise

In Science this week: neural network to predict chemotherapeutic response in cancer patients, and more.