January 20, 2021
Business News

HitGen to Acquire Vernalis, a Leader in Structure-Based Drug Discovery

CHENGDU, China–()–HITGEN (688222.SH) announces it has entered into a definitive agreement with Ligand Pharmaceuticals Inc. (NASDAQ: LGND) to acquire Vernalis (R&D) Limited, Cambridge, UK-based world leaders in fragment and structure-based drug discovery research. The acquisition is for the entire issued share capital of Vernalis (R&D) Limited, for $25M in cash. The closing of this transaction is subject to customary conditions and approvals, expected to complete before the end of 2020.

Vernalis combines excellence in protein science and structure determination, fragment screening and biophysics with medicinal chemistry leadership to enable novel drug discovery against highly challenging targets. They are a…

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