Fonds de solidarité FTQ invests to support the acquisition
MONTRÉAL, Oct. 31, 2022 /CNW Telbec/ - NuChem Sciences, a Montréal-based contract research organization (CRO) and leader in drug discovery, has announced that it has acquired IniXium of Laval, Québec. This acquisition was made possible by an investment from the Fonds de solidarité FTQ.
This third acquisition allows NuChem to broaden its expertise in biological targets, also known as target proteins, whose manufacturing and understanding of their 3D structure are essential steps in the creation of new drugs.
The pooling of the two teams' expertise will spawn a new collaborative group in structural biology due to the synergy between NuChem's medicinal and computational chemistry and IniXium's crystallography team, allowing for the more rational design of drug candidates based on 3D representation of the target protein structure.
IniXium's production capacity also allows NuChem to become independent in terms of obtaining key proteins used by its enzymologists and biochemists to determine molecular biological activity.
"With more than 250 scientists and support staff, NuChem Sciences is proud to bring together all these researchers in 5 locations in 3 cities in Québec," said NuChem CEO Marc LeBel. NuChem Sciences has the largest team of chemical scientists among North America's drug discovery CROs and expects to maintain its #1 position.
"We are happy to be joining forces with NuChem to help make Québec a leader in drug discovery," said IniXium's officers René Coulombe and James Féthière. "Since both organizations are intensively recruiting right now, this merger will not result in any job losses."
"NuChem's technology and expertise are unrivaled. With the IniXium acquisition, NuChem has all the tools to expand its service offering and boost its growth," said Dany Pelletier, Senior Vice-President, Private Equity and Impact Investing, at the Fonds de solidarité FTQ. "The Fonds will be there every step of the way to support NuChem's development plan. This transaction shows once again our desire to help grow Québec's science sector."
Drug discovery is the process of designing and synthesizing new molecules with biological or therapeutic activity that could potentially become new drugs. More specifically, it aims to optimize the therapeutic effect of so-called "hits" or "lead compounds" identified by various technologies, including the crystallographic fragment screening offered by IniXium, and through close collaboration between multidisciplinary teams in chemistry, cell biology, biochemistry and animal pharmacology.
Fasken's lawyers and legal advisors supported NuChem Sciences Inc. in the transaction; Osler's lawyers and legal advisors supported IniXium Inc., and Blakes' lawyers and legal advisors supported the Fonds de solidarité FTQ.
NuChem Sciences offers a variety of services to support international biotech and pharmaceutical industries in their efforts to identify and optimize pre-clinical candidates in the area of small molecule drug discovery and early development. Since its inception in 2011, NuChem has contributed to the discovery of several new drug candidates that have progressed to human clinical trials.
Created in 2014, IniXium offers expert services in recombinant protein production, biophysical characterization, protein crystallography, fragment screening and biologics and biosimilars. The company has an outstanding reputation in the pharmaceutical and biotech industries.
The Fonds de solidarité FTQ invests to build a better society by channelling the savings of its 748,371 shareholders into development and risk capital investments to help Québec transition to a green economy, to a human-centred world of work, and to a healthier society. The Fonds offers businesses unsecured financing and strategic support. With $17.4 billion in net assets as at May 31, 2022, the Fonds has supported 3,620 partner companies and 296,927 jobs.
SOURCE Fonds de solidarité FTQ
Press contact: Marc LeBel, President, NuChem Sciences, 418 657-9081, [email protected]; Frédérique Lavoie-Gamache, Advisor, Press Relations, Fonds de solidarité FTQ, Telephone: 438 364-1596, Email: [email protected]
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