Domain Therapeutics acquires Prestwick Chemical and Neurofit to bolster next stage of growth
Prestwick Chemical will leverage medicinal chemistry capability of Domain;
Neurofit will bring expertise in animal pharmacology
Strasbourg, France, March 3, 2020 – Domain Therapeutics, a biopharmaceutical company specializing in the discovery and development of new drugs targeting G Protein-Coupled Receptors (GPCR) in neurology, immune-oncology and rare diseases, announces today its acquisition of all shares in PC SAS (Prestwick Chemical) and Neurofit SAS (Neurofit), two former subsidiaries of Bionomics Ltd, an Australian biopharmaceutical company. By absorbing their liabilities, this acquisition constitutes an accounting neutral operation for Domain without initial investment.
These acquisitions constitute a key step towards executing the company’s four-year business plan, ensuring the expansion of Domain’s portfolio of GPCR proprietary programs. With the additional resources and expertise, Domain will also be able to enter into larger collaborations with pharma partners and support its asset-centric affiliates.
In acquiring Prestwick Chemical, Domain will double its medicinal chemistry resources. Whilst pursuing the commercialization of renowned libraries, Prestwick Chemical will significantly contribute to increasing Domain’s capacity in medicinal chemistry for both internal programs and collaboration with pharma partners. Neurofit will pursue its service-based activities in parallel with supplying Domain with a valuable animal pharmacology platform for neurological diseases, giving the company the opportunity to develop novel in vivo pharmacological axis.
“These acquisition opportunities perfectly match Domain’s need to strengthen its core scientific capabilities in order to pursue its growth in the coming years,” said Pascal Neuville, CEO, Domain Therapeutics. “The addition of these new capabilities will significantly streamline the expansion of our project portfolio and reinforce our partnering capacity.”
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