Galapagos NV: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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Galapagos NV Acquires Cangenix
Galapagos NV (Galapagos) announced that the Company has acquired Cangenix to add structure-based drug discovery to the Argenta service offering. Under the terms of the acquisition agreement, Galapagos will pay a total cash consideration of GBP 1 million, with a further GBP 440,000 potential earn out payment contingent upon achievement of certain conditions. Argenta will integrate all of Cangenix's assets, know-how, personnel and service contracts. The activities will be added to Argenta's capabilities in hit finding and medicinal chemistry. The Cangenix team of 4 staff will join Argenta but will continue to operate the platform in its premises in Canterbury, securing a smooth transition of the business. The acquisition will contribute to the Argenta revenues and profit for 2013.
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