News briefing: Gilead partner Galapagos sells off CRO for $37M; Polyphor bags $3.3M from CF Foundation
Close Gilead ally Galapagos is selling off one of its contract research organizations to a Polish pharma company.
Galapagos has agreed to sell 100% of the outstanding shares in the CRO Fidelta to Selvita, in a deal worth roughly $37 million expected to close in the first week of January. The acquisition is expected to nearly double Selvita’s revenues, the company says, as well as expand its drug discovery efforts.
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