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News Breaks
March 14, 2014
08:03 EDTSLPSimulations Plus announces 'success' in COX-2, COX-1 drug design project
Simulations Plus announced that its second new chemical entity initiative, which involved using Simulations Plus software to design molecules to inhibit COX-2, has been a success as determined by synthesis and testing by a third-party lab. Three of the four molecules it has designed are potent inhibitors of both cyclooxygenase-2 and COX-1 enzymes. The fourth inhibits COX-2 but only weakly inhibits COX-1. The company said, "This project was more challenging than the malaria NCE project we completed two years ago because this time our goal was to inhibit two targets with a single molecule while also providing good absorption, distribution, metabolism, excretion, and toxicity properties."
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July 24, 2014
05:36 EDTSLPSimulations Plus to acquire Cognigen for $7M
Simulations Plus announced that it has entered into an Agreement and Plan of Merger with Cognigen Corporation of Buffalo, New York. Pursuant to the Agreement, upon closing, Cognigen will become a wholly-owned subsidiary of Simulations Plus and will continue to operate under the Cognigen name. This will result in the total number of Simulations Plus employees increasing from 30-65, and is expected to add approximately $5M to the revenues of the combined company in the coming fiscal year. Under the terms of the Agreement, Simulations Plus will pay the shareholders of Cognigen total consideration of $7M, comprised of $2.8M of cash and $4.2M worth of newly-issued, unregistered shares of common stock of Simulations Plus. The Agreement provides that $1.8M of the total consideration will be held back for two years to satisfy any indemnifiable claims that may arise pursuant to the terms of the Agreement.
July 14, 2014
07:20 EDTSLPControlled Released Society to hold annual meeting
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