Argenta Discovery and Etiologics Merge to Create New Drug Discovery Firm

Strategic Insights -

The merger of Argenta Discovery and Etiologics has created a powerful new firm providing comprehensive drug discovery contract research capabilities to global pharmaceutical customers, while also developing novel agents for respiratory and inflammatory conditions. The newly formed company, Argenta Discovery, employs approximately 120 people and has secured an additional £5.9 million ($10.5 million) in investment from existing investors. Christopher Ashton, Ph.D., former CEO of Etiologics, is now the Chief Executive Officer of the new firm, which aims to leverage its enhanced capabilities to accelerate Etiologics' innovative respiratory and inflammatory drug development programs.

Key Takeaways:

  • The merger combines the strengths of Argenta Discovery and Etiologics to create a leading provider of drug discovery services, with expertise in respiratory drug research.
  • Argenta Discovery brings expertise in medicinal, synthetic, and analytical chemistry, biochemistry, and computational techniques, while Etiologics' research team has experience in respiratory drug discovery and development.
  • The merged entity, Argenta Discovery, has a strong contract drug discovery capabilities in diverse therapeutic areas, as well as a leading position in COPD research, with over two decades of experience in respiratory research, unique automated imaging technologies, and proprietary disease models.
  • The company has several preclinical respiratory development programs underway, including those focused on COPD, CF, and other chronic respiratory diseases.
  • Dr. Mary Fitzgerald, Dr. Christopher Newton, and Colin Knox hold Board positions in the new company as Director of R&D, Chief Scientific Officer, and Chief Financial Officer, respectively.
  • The new company is headquartered at Harlow, Essex, and maintains its laboratories in Slough, Bucks, U.K.

Statistics:

  • The merged company, Argenta Discovery, employs approximately 120 people.
  • The company has secured an additional £5.9 million (approximately $10.5 million) in investment from existing investors.
  • Argenta Discovery's sales were $11.7 million (approximately £6.7 million) in the year to March 2004.
  • Etiologics raised $6.1 million (approximately £3.5 million) on its inception in October 2002.
  • The company has established a strong presence in the respiratory and inflammatory disease markets, with a focus on COPD, CF, and other chronic respiratory diseases.

Sources:

  • "Argenta Discovery Ltd and Etiologics Ltd Merge to Form Argenta Discovery" (PR Newswire, Oct. 4)
  • Company website: http://www.argentadiscovery.com/
  • Company website: http://www.etiologics.com/