Instem Plc (LON:INS) has acquired life sciences software analyst Notocord Systems SAS for €4.2mln.
Notocord’s platform is used by top scientists for new drug development research within discovery, safety pharmacology and toxicology studies.
Following the acquisition, Instem has positioned itself to address the requirements of the new Standard for the Exchange of Non-clinical Data (SEND).
It will allow the group to meet the requirements of the new mandate across the key application areas of pre-clinical drug research data collection, analysis, management and submission of test data to the FDA.
“As experts in safety pharmacology, the Notocord team joins us just as this becomes a significant additional focus area for SEND, one of our largest growth opportunities over the next few years,” said chief executive Phil Reason.
Notocord has sold more than 1,500 licences around the world to major pharmaceutical companies.
It saw sales of €2.25mln and operating profits of €0.7mln at the end of last year.
The consideration comprises €2mln on completion and up to a further €2.2mln, payable upon the achievement of certain targets.
Instem expects the acquisition to be immediately earnings enhancing.