Red Glead Discovery in Lund has acquired Pepticon to create a company for drug discovery research services.
According to a statement, the merger will provide Red Glead Discovery with access to Pepticon’s capabilites to deliver contract research services to clients within peptide chemistry. Through the merger, the new company will have more than 50 clients in Europe, said Red Glead.
“Both companies are experiencing increasing sales. This merger is strategically important because it creates the opportunity to provide attractive and advanced offerings in peptide chemistry. Together, we are increasing our capabilities and will continue to develop complex and cost-effective research services for regional and global clients in the pharmaceutical industry,” stated Johan Evenäs, CEO, Red Glead Discovery, in a press release.
Pepticon was founded by Karolina Lawitz with extensive experience in peptide chemistry from Ferring and AstraZeneca. It has been an important partner of Red Glead Discovery since its inception in 2011. Red Glead Discovery was founded by Johan Evenäs along with former colleagues from AstraZeneca. Both companies are located at the Medicon Village in Lund.
“Together, we can offer both current and new clients unique solutions in the interface between peptide and organic chemistry. In
addition to expecting rapidly increasing revenues, we also see synergies in marketing and sales,” noted Karolina Lawitz, CEO, Pepticon.
The merger is executed on the basis of a non-cash issue, due to be implemented in the autumn of 2014.
Image: Karolina Lawitz CEO Pepticon Johan Evenäs CEO Red Glead Discovery