- IniXium’s production capacity also allows NuChem to become independent in terms of obtaining key proteins used by its enzymologists and biochemists
- NuChem has the largest team of chemical scientists among North America’s drug discovery CROs
Fonds de solidarité FTQ this week announced it has invested in support of NuChem Sciences’ acquisition of IniXium. No financial terms were disclosed.
NuChem is a Montréal-based contract research organization (CRO) working in the field of drug discovery. IniXium, based in Laval, Québec, is also a CRO that directly targets structural biology needs of the pharmaceutical and biotech industry.
The acquisition allows NuChem to broaden its expertise in biological targets whose manufacturing and understanding of their 3D structure are essential steps in the creation of new drugs. IniXium’s production capacity also allows NuChem to become independent in terms of obtaining key proteins used by its enzymologists and biochemists.
“With the IniXium acquisition, NuChem has all the tools to expand its service offering and boost its growth,” said Dany Pelletier, senior vice-president, private equity and impact investing, at FTQ, in a statement. “The Fonds will be there every step of the way to support NuChem’s development plan. This transaction shows once again our desire to help grow Québec’s science sector.”
NuChem Sciences has the largest team of chemical scientists among North America’s drug discovery CROs, according to Fonds de solidarité FTQ.
Fonds de solidarité FTQ is the largest development capital and growth investor in Quebec. As of November 30, 2021, it held C$18.3 billion in net assets and more than 730,000 owner-shareholders. This investment follows the firm’s acquisition of Andy Corp North America.