Schrödinger Announces Acquisition of XTAL BioStructures, Inc.
Acquisition Expands Schrödinger’s Leadership in Structure-Based Drug Discovery
The acquisition of XTAL BioStructures enables Schrödinger to pursue scientific advancements in the field of structural biology, augment its ability to produce high quality target structures for its drug discovery programs, and expand its offerings to include an advanced and differentiated service that provides customers access to protein structures that have been computationally validated and are ready for structure-based virtual screening and lead optimization.
“The acquisition of XTAL BioStructures enables us to continue to meaningfully advance the field of structure-based drug discovery. Through the integration of experimental and computational approaches, we can continue to improve techniques to prepare proteins for structure-based drug design methods,” said
“XTAL and Schrödinger share a strong cultural fit and commitment to science, which was a very important consideration for both organizations,” said
Schrödinger and XTAL BioStructures closed the
Schrödinger is transforming the way therapeutics and materials are discovered. Schrödinger has pioneered a physics-based software platform that enables discovery of high-quality, novel molecules for drug development and materials applications more rapidly and at lower cost compared to traditional methods. The software platform is used by biopharmaceutical and industrial companies, academic institutions, and government laboratories around the world. Schrödinger’s multidisciplinary drug discovery team also leverages the software platform to advance collaborative programs and its own pipeline of novel therapeutics to address unmet medical needs.
Founded in 1990, Schrödinger has over 500 employees and is engaged with customers and collaborators in more than 70 countries. To learn more, visit www.schrodinger.com and follow us on LinkedIn and Twitter. Visit our blog at Extrapolations.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 including, but not limited to those regarding Schrödinger’s expectations about the speed and capacity of its computational platform, Schrödinger’s expectations with respect to the potential impact and benefits of the acquisition of XTAL BioStructures, including its ability to leverage XTAL BioStructures’ technology to produce high quality protein structures for programs and expand its product offerings, and Schrödinger’s potential investment in XTAL BioStructures’ capabilities. Statements including words such as "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "intend," "look forward," "may," "might," "plan," "potential," "predict," "project," "should," "target," "will," "would" and statements in the future tense are forward-looking statements. These forward-looking statements reflect Schrödinger’s current views about its plans, intentions, expectations, strategies and prospects, which are based on the information currently available to the company and on assumptions the company has made. Actual results may differ materially from those described in these forward-looking statements and are subject to a variety of assumptions, uncertainties, risks and factors that are beyond Schrödinger’s control, including the demand for its software solutions, the ability to further develop its computational platform, the reliance upon third-party providers of cloud-based infrastructure to host its software solutions, the reliance upon its third-party drug discovery and research collaborators, Schrödinger’s ability to realize the anticipated benefits of the acquisition of XTAL BioStructures, the timing and impact of integration efforts with XTAL BioStructures, unknown liabilities related to the acquisition of XTAL BioStructures, as well as the other risks and uncertainties identified under the caption "Risk Factors" and elsewhere in the company’s
Source: Schrödinger, Inc.