25th Jul 2014 11:38
LONDON (Alliance News) - Horizon Discovery Group PLC said Friday that it has been contracted by Otsuka Pharmaceutical Development and Commercialization Inc for in vitro cell line screening of some of its development candidates.
The contract is worth USD835,000, and will be substantially completed during 2014, said the company. It will be completed by its Horizon CombinatoRx division, which it created from business and assets it acquired from Zalicus Inc in June.
"The contract with OPDC represents the continued commercial traction of the CombinatoRx business following the acquisition which was in line with the strategy outlined at the time of Horizon's IPO," said Chief Executive Darrin Disley in a statement Friday.
Shares in Horizon Discovery Group were trading down 1.4% at 175.00 pence Friday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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