Symyx Buys Service Provider
Symyx Research is one of Symyx Technologies’s three businesses. For the six months ended June 30, service revenue for Symyx Research fell 23.8% to $14.8 million, which was attributed to decreased revenue from its collaborations with Exxon Mobil and Dow. This agreement is part of the company’s efforts to replace the lost revenue.
Santa Clara, CA 8/14/08—Symyx Technologies has acquired Integrity Biosolution for an undisclosed amount. Integrity Biosolution offers contract formulation research and analytical services, including formulation and stability solutions for large molecule biopharmaceuticals and fill/finish services for Phase I and II clinical trial volumes. Symyx stated that the acquisition adds biological formulation services to its Research Services business, which currently provides chemical formulations services. “We can leverage our expertise in informatics and automated parallel experimentation to improve the consistency, accuracy, data capture capabilities and quality of reporting within this market. This is an important change in formulation outsourcing,” stated Symyx CEO Isy Goldwasser. Integrity Biosolution’s founder and Chief Scientific Officer Dr. Byeong Chang will join Symyx.
