RxCelerate buys cutting-edge molecular modelling company
RxCelerate, one of the leading outsourced drug discovery and development platforms in Britain, has acquired UK-based molecular modelling company Prosarix for an undisclosed sum.
Originally founded in 2006, Prosarix has built a reputation as one of the leading exponents of molecular modelling, supporting both protein engineering and in silico drug design projects.
Dr Jill Reckless, CEO of RxCelerate – growing fast in Cambridge UK and MA – told Business Weekly: “The acquisition will help us move into the next phase of our growth as we expand our services across the platform of drug discovery and development.
“Prosarix is already well-known to many of our clients and has demonstrated time and again how its proprietary molecular modelling capabilities can discover better molecules than the competition. We are thrilled to now have this unique expertise as part of RxCelerate Group.”
Dr Bill Hamilton, the current chief executive at Prosarix, which is based just outside Cambridge, UK, added: “We are very excited to have this opportunity to join a rapidly-expanding, global, quality biotech business, with a unique platform to delivering cutting-edge drug discovery and development on an out-sourced basis.”
RxCelerate operates a unique model, allowing clients to outsource complete drug discovery and development programmes to a team of world-class drug developers – obviating the need for internal expertise usually required when outsourcing to contract research organisations.
Founded in 2012, the company initially built its reputation on the quality of its preclinical models of human diseases but rapidly expanded to offer a comprehensive, turnkey drug discovery and development solution.
Founder and chairman Dr David Grainger said: “Following the acquisition of bioanalytical CRO Total Scientific and sector-focused back-office service provider The Cambridge Partnership during 2018, this new acquisition underlines our commitment to complete the jigsaw so that our clients can access world-leading drug discovery capability under one roof. Jon Heal and the scientific team at Prosarix are talented modellers, with a proven track-record in molecular design.”