LONDON (Alliance News) - C4X Discovery Holdings PLC said on Tuesday it acquired a range of drug-discovery technologies from MolPlex Ltd.
C4X owns the Conformetrix technology, which is used to optimise drug molecules. The acquisition of technology from MolPlex will enable C4X to predict whether molecules will have the qualities required for human administration, such as absorption and solubility.
This will reduce the cost, time and pressure of drug development and should increase the likelihood of clinical success, the company said.
"These new technologies, which we have brought into the business on very economical terms, complement our existing platform and add to our ability to capitalise on the identification of high-value targets from our Taxonomy3 technology to generate drug candidates with greater clinical and commercial differentiation," Said Dr Clive Dix, chief executive of C4XD.
C4XD acquired the drug technologies from MolPlex, which is currently in administration, for an undisclosed amount.
Shares in C4XD were up 6.4% Tuesday morning at 125.00 pence.
By Lucy Heming; lucyheming@alliancenews.com
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