Simulations Plus has acquired French medical software company Lixoft, further expanding its drug simulation capabilities and broadening its presence in Europe.
The Lancaster company, which makes software for pharmaceutical research that simulates how drugs in development would affect the body, did not release financial details about the acquisition, but said it expects Lixoft to add more than $3 million in revenues for the coming fiscal year.
Lixoft continues to operate under its own name as a wholly owned subsidiary of Simulations Plus. Similar to Simulations, Lixoft was founded in 2011 to design software solutions for drug developers looking to bring products to market in a cost-effective way.
Its flagship product is Monolix Suite, a program that helps researchers test drugs from first data exploration up to clinical trial simulations.
“(The acquisition) represents an additional complementary software product to our existing offerings and provides for an attractive expansion of our range of consulting services,” Shawn O’Connor, chief executive of Simulations Plus, said in a statement. “It provides us increased presence in the European geographic area with experienced executive management.”
“Joining Simulations Plus, which has long served as a role model for Lixoft, is an ideal opportunity for us to increase exposure and leverage the robust Simulations Plus infrastructure for sales and distribution,” Jérôme Kalifa, co-founder and chairman of Lixoft, said in a statement.
Simulations Plus (SLP) announced the acquisition Thursday. Shares closed Friday down 36 cents, or a little more than 1 percent, to $33.89 on the Nasdaq.