Boston Business Journal August 13, 2003

 

Predix Pharma to merge with N.J. company
Boston Business Journal
A New Jersey biological modeling company has merged with Predix Pharmaceuticals Inc. in Woburn in a deal intended to further develop antianxiety drugs and other compounds to treat depression, lung disorders and bladder incontinence.

Terms of Princeton-based Physiome Sciences Inc.'s merger with Predix were not disclosed in the Tuesday announcement. Both are private companies.

Predix, originally founded in Israel, is a drug discovery company founded in 2000. Physiome was founded in 1994 and offers computer-based modeling and cell simulation.

Predix CEO Dr. Michael Kauffman will remain in his position. In a written statement, he said the merger will help the company bring new therapies to clinics more quickly than before and to develop more and better products.

As part of the deal, Physiome acquired Predix in exchange for 30 percent of the combined equity of both companies. In return, Predix gets access to $20 million in cash at Physiome, according to VentureWire, which said the transaction was called an acquisition for tax purposes.