Parties
Company
Sygnature Discovery Ltd.
Company
NuChem Sciences Inc.
Sygnature Discovery, a key player in integrated drug discovery, acquired NuChem Sciences, a prominent Canadian Contract Research Organisation. This strategic move enhances Sygnature's position as a major global force in the drug discovery phase. It notably expands their reach and operational capacity in North America, blending their expertise with that of NuChem to deliver comprehensive drug discovery services ranging from target validation to candidate selection.
NuChem, employing over 300 staff in Montreal and Quebec City, specializes in various discovery solutions, including medicinal and synthetic chemistry, as well as biology and pharmacology services. This acquisition not only broadens Sygnature's scientific capabilities but also extends its workforce to over 1,000 employees, including more than 900 scientists.
Marc Lebel, President of NuChem, expressed enthusiasm about joining Sygnature, highlighting shared goals and values in becoming a global leader in drug discovery services. Dr. Simon Hirst, CEO of Sygnature Discovery, described the acquisition as a critical milestone in their growth plan, aiming to improve global health services.
This acquisition marks Sygnature's third major expansion in sixteen months, following investments and acquisitions supported by entities like Amorchem, Investissement Québec, and the Business Development Bank of Canada.
Deal Type
Merger & AcquisitionIndustry
HealthcareTransaction
Undisclosed/ConfidentialDeal Status
ClosedClosing Date
01 August 2023