Evotec bags chemical proteomics specialist Kinaxo
Hamburg-based Evotec AG is to expand its drug discovery capacity with a EUR12m acquisition. Yesterday, the company announced the purchase of private chemical proteomics specialist Kinaxo Biotechnologies GmbH. The transaction, which will cost Evotec EUR3m in cash, and EUR2.6m plus performance-based milestones up to EUR4m in cash as well EUR4m of integration costs, is expected to close in April. „Kinaxo has built a unique technology platform that allows comprehensive analysis of cancer signal transduction processes and their response to drug treatment said Kinaxo’s co-founder and world-reknown cancer researcher Prof. Dr Axel Ullrich. „The integration of the leading drug discovery capability will implement Evotec as a driver towards personalised medicine in the future." Kinaxo offers state-of-the-art quantitative techniques to analyse drug effects on a cell’s phosphoproteome or kinome to pharmaceutical companies and eases preclinical assessment of adrug candidate's efficacy, mode-of-action, target population and off-target effects. The company, which relies on three platform technologies, currently is running partnerships with BMS, AstraZeneca, Roche, Jansen Pharmaceutical, Takeda, BayerVital, or Boehringer Ingelheim. Kinaxo’s Cellular Target Profiling® platfom uncovers the protein binding partners of compounds with unknown mode-of-action with help of label-free quantitative mass spectrometry techniques developed at Martinsried-based Max-Planck-Institute of Biochemistry such as SILAC or iTraq. Its KinAffinity® platform gives Evotec the capability to screen for a drug candidate’s interactions with all 340 cellular protein kinases, the most important class of targeted cancer drugs.The third proteomics application termed PhosphoScout® provides insight in a drug’s mode-of-action in vivo by identifying its interference with cellular signal pathways. On the other hand it provides biomarkers for stratification of drug responders. "Through the acquisition of Kinaxo, Evotec gains access to a highly innovative technology base in drug discovery," said Dr Werner Lanthaler, Chief Executive Officer of Evotec AG."