Major acquisition for Nottingham firm with eye on global domination
Nottingham life sciences firm Sygnature Discovery has bought one of North America’s largest discovery contract research organisations (CRO), Canada based NuChem Sciences.
Sygnature says the deal will cement its place as one of the world’s largest players in integrated drug discovery phase solutions.
Marc Lebel, president and chairman at NuChem Sciences, said: “Our company goals and values fit perfectly with those of Sygnature in becoming a global leader in drug discovery services. We are delighted to become an integral part of the Sygnature Group, allowing us to leverage our deep scientific expertise and presence across North America and Europe, to the benefit of customers and employees.”
NuChem Sciences employs over 300 staff across facilitie in Montreal and Quebec City, Canada, where the company will continue to operate.
The deal will mean Sygnature Discovery will have more than 1,000 staff across 53 countries, including over 900 scientists who work on standalone and integrated drug discovery programmes.
Founded in 2004, the company has delivered over 40 novel drug candidates into pre-clinical development and 22 into clinical trials, with its scientists named on over 170 patent applications.
Dr Simon Hirst, CEO at Sygnature Discovery, said: “This acquisition represents a pivotal milestone in the Sygnature growth plan, allowing us to deliver better discovery solutions to customers around the world. The addition of NuChem Sciences greatly enhances Sygnature Discovery’s offering, making us a highly differentiated and integrated drug discovery partner with unrivalled scale and range. NuChem is a like-minded business that complements Sygnature’s existing services, towards our joint mission of improving the world’s health.”
Lebel added: “This acquisition could not have taken place without the support and partnership of Amorchem, Investissement Québec, Fonds de solidarité FTQ and the Business Development Bank of Canada; I would like to extend my thanks to all involved.”
Deloitte Midlands advised on the deal.
David Jones, corporate finance advisory partner at Deloitte in the Midlands, said: “The strategically important acquisition of NuChem Sciences marks a significant milestone for Sygnature Discovery both locally and globally. The deal will boost Sygnature’s standing on the international stage, facilitating its growth across a global customer base.
“We were delighted to be involved in this transaction, which brings together two major players in the preclinical drug discovery market. Having worked closely with the Sygnature team to fulfil their strategic objectives, the deal signifies an exciting new period of growth for the team as it builds out its service offering.”
This is the third in a series of acquisitions over the last sixteen months that have formed part of Sygnature’s global expansion, following the investment by Five Arrows in Summer 2021. Previous acquisitions made were Peak Proteins in April 2022 and SB Drug Discovery in January 2023.
