Pharmacopeia
Pharmacopeia, a biopharmaceutical company, engages in the discovery and development of therapeutics to address significant medical needs.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor investor investor investor investor investor | €0.0 | round | |
N/A | Acquisition | ||
| Total Funding | 000k | ||
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Pharmacopeia, Inc. was a biotechnology firm that carved out a significant niche in the field of small molecule combinatorial chemistry. The company was established by a team comprising Larry Bock, Dr. Michael Wigler, Dr. Clark Still, and Dr. Jack Chabala. Becoming a public entity in 1996, Pharmacopeia marked a key milestone in its corporate journey.
The core of Pharmacopeia's business was centered on accelerating drug discovery and chemical development. Its business model involved leveraging proprietary technologies to discover and optimize lead compounds for pharmaceutical clients. The company's Drug Discovery Services segment integrated combinatorial chemistry, high-throughput screening, and computational methods. This approach allowed it to identify promising drug candidates and support the research efforts of its partners. Revenue was generated through licensing fees, providing screening and optimization services, and milestone payments upon achieving specific research goals. Furthermore, the company secured royalties on any marketed products that emerged from these collaborations. A notable aspect of its operations was the industry's largest combinatorial chemical library, which was a significant asset in its partnerships.
A pivotal event in the company's history was its acquisition by Ligand Pharmaceuticals (NASDAQ: LGND). The definitive merger agreement was announced on September 24, 2008, in a transaction valued at up to $70 million, structured as a stock-for-stock exchange with an added Contingent Value Right (CVR). The acquisition was finalized on December 13, 2008, after receiving approval from Pharmacopeia's stockholders. This strategic move provided Ligand with access to Pharmacopeia's numerous royalty partnerships, additional pipeline assets, drug discovery resources, and a substantial chemical library.
Keywords: combinatorial chemistry, drug discovery, small molecule, high-throughput screening, lead optimization, chemical library, biotechnology, pharmaceutical partnerships, lead discovery, computational chemistry, drug development, royalty partnerships, lead compounds, screening services, chemical development, Ligand Pharmaceuticals acquisition, PCOP, drug research, molecular modeling, informatics