Genesis Biotechnology Group Acquires BioBlocks to Grow the Preclinical Chemistry Services Portfolio of Genesis Drug Discovery & Development (GD3)
HAMILTON, N.J., Oct. 7, 2021 /PRNewswire/ -- Genesis Biotechnology Group® (GBG) and Contract Research Organization (CRO) arm Genesis Drug Discovery & Development™ (GD3) announced today that it has acquired BioBlocks. Founded in San Diego in 2002, BioBlocks provides medicinal chemistry drug discovery services and products to clients worldwide from initial lead discovery through the identification of development candidates.
This chemistry service portfolio addition will enable the GD3 member companies to expand their full-service drug research and discovery services to augment medicinal chemistry capabilities and accelerate screening, selection, and the advancement of industry partner's drug candidates. With offices and laboratories in San Diego, California, and Budapest, Hungary, BioBlock's skilled team of world-class chemists, with over 100 years of combined pharma and CRO experience, will work synergistically with GD3's existing platform of chemistry services around uHTS, computational chemistry, and structural biology.
"We welcome the opportunity to become a member of the Genesis family of companies after 20 years of building an organization with strengths in medicinal chemistry expertise and collaborative drug discovery," says Dr. Peter Pallai, CEO of BioBlocks. "By combining the complementary CRO capabilities of GD3 members and BioBlocks, we are creating a most comprehensive coverage of the drug discovery spectrum that will provide exceptional services to our pharma/biotech partners."
"We constantly adapt our services to meet the needs of our industry partners," says Dr. Eli Mordechai, CEO of GBG. "I believe that adding BioBlocks' sector expertise and global reach is another way to differentiate our capabilities and significantly enhance our portfolio around medical chemistry to better serve our industry partners."
"While we continue to add complementary services to expand into new markets, we are also adding scale to increase market share with our existing services," said Ben Bandaru, Ph.D., Director of Corporate Development for GBG. "The acquisition of BioBlocks is our first foray into establishing a base in the epicenter of European Biotech and Pharma, which seemed like our logical next step."
About Genesis Drug Discovery & Development
To find out more, please visit www.genesisbiotechgroup.com.
Contact: Laura Sailor, Director of Business Development
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SOURCE Genesis Drug Discovery & Development (GD3)