FOSTER CITY, Calif.--(BUSINESS WIRE)--Entelos, Inc. (LSE:ENTL), a leading life sciences company that leverages its proprietary in silico disease models, known as PhysioLab® platforms, to develop drugs and support pharmaceutical R&D, is pleased to announce that it has entered into an agreement to acquire Iconix Biosciences, Inc. (“Iconix”), a privately held predictive toxicology company located in Mountain View, California, in an all-share transaction. The expected effective date of the acquisition is 31 August 2007.
“We believe the combination of our predictive efficacy models with Iconix’s toxicology expertise can create a new paradigm for discovering and developing drugs,” commented James Karis, President and CEO of Entelos, Inc. “Drug failures are often due to efficacy or toxicity issues, and while Entelos’ predictive disease models address efficacy, Iconix’s toxicology databases help to address toxicities. In addition, Entelos’ recently announced collaboration with the FDA to build a model of drug-induced human liver injury to identify patients at risk for developing hepatotoxicity and the addition of Iconix will expand our capability for drug safety assessment.”
