C4X Discovery Holdings plc (LON:C4XD) has acquired has acquired a software system that helps identify drug candidates from a private company called MolPlex, which is currently in administration.
It said it paid a “non-material amount” for the platform, which complements its Conformetrix technology that helps users see the shapes of small molecules in a new level of detail and sophistication.
This in turn means scientists are able to develop drugs that have the desired and potent impact on the illness or disease.
MolPlex will enable C4X to not only generate the chemical starting point for drug programmes in rapid time, but it can also predict whether the resulting molecules have “druggable qualities”.
Being able to carry out this sort of analysis reduces the cost, time and attrition associated with early development and increases the likelihood of eventual clinical success.
The MolPlex suite of technologies were originally developed at Newcastle University.
“We are rapidly building an internal pipeline of exciting therapeutic programmes and moving steadily towards realising our goal of becoming the world's most productive drug discovery and development company," said chief executive Dr Clive Dix.