NEW YORK, Oct. 24 - Xenon Genetics, a privately held Canadian genomics firm, has acquired the lipid metabolism drug-discovery program of QuantaNova Canada, Xenon said on Wednesday.
The acquisition, which includes a portfolio of novel genes and proprietary screening and diagnostic assays, is intended to help Xenon develop therapeutics for diabetes, obesity, and cardiovascular disease, the company said.
QuantaNova Canada, a subsidiary of the Scottish firm Scotia Holdings, conducts research in lipid sciences, focusing on lipid enzyme metabolism and developing new lipid-based pharmaceuticals.
More recently, the company added lipid genomics to its research activities. For Xenon, the acquisition “builds on our existing expertise in that field, and bolsters our portfolio of novel genes and drug targets,” said Frank Holler, CEO of Xenon.
“This acquisition builds significantly on an area of expertise for the company, which is the field of dyslipidemia, encompassing HDL and LDL cholesterol, triglycerides and free fatty acids,” . “We think it’s a very rich field, one in which there are substantial unmet needs and clinical opportunity.”
Financial details of the deal were not disclosed.
Vancouver-based Xenon identifies genes and other drug targets for cardiovascular, neurological, metabolic, and ocular diseases.