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news.Belgium-based biotechnology company Galapagos has completed the sale of its BioFocus DPI chemistry facility in San Diego to ChemVentures, an Australian discovery research group. Financial terms were not disclosed.
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With the transaction, Galapagos has now completed the integration of BioFocus DPI’s activities worldwide. The San Diego facility currently employs 40 people and provides medicinal chemistry and custom library production services to pharmaceutical and biotech customers. ChemVentures intends to retain the employees at the San Diego site.
The BioFocus DPI Compound Management facility in South San Francisco forms no part of the transaction, and it will continue to operate and be fully staffed. This facility has grown its business significantly, signing major contracts with the NIH, EPA, Allergan, and Sepracor, said Galapagos.
Onno van de Stolpe, CEO of Galapagos, said: “The decision to sell our San Diego site followed a thorough operational review of BioFocus DPI. We concluded that we are in a position to serve our customer base very well for medicinal chemistry and compound libraries out of our UK facility.
“By divesting the San Diego operation, we can improve our margins through reduced overhead and enhanced efficiency. This transaction is further proof that we are committed to focusing on the strengths of our services business.”