Asterand has signed an agreement to acquire BioSeek, a pioneer in the application of predictive human biology to drug discovery through its human primary cell based disease models.
The deal is subject to Asterand shareholders' approval. Asterand said it achieved revenue of £9.1m in the nine months to the end of September compared with £8m last year - excluding the licensing payments from Allergan.
Revenues for the same period last year also contained £1.1m relating to a one year contract that ended in December 2008.
The company said it continued to control its expenditures while maintaining strong cash resources of £5.2m (30 June: £5.8m).
Story provided by Business Financial Newswire
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