Benzinga | Aug 4, 2021 10:32AM EDT

Clarivate Acquires Bioinfogate For Undisclosed Terms To Expand Drug R&D Intelligence

* Clarivate PLC (NYSE:CLVT) acquired Bioinfogate, an analytics solutions provider in the life sciences and producer of the OFF-X portal.

* The financial terms of the transaction remain undisclosed.

* The acquisition of Bioinfogate will fill a critical need for drug toxicity data and translational safety intelligence across all stages of drug R&D.

* With previously acquired Cortellis, OFF-X will provide critical translational safety intelligence alongside a robust drug pipeline and clinical research information.

* Beyond Cortellis, OFF-X will strengthen other Clarivate products and services, including the Web of Science, the publisher-independent global citation database.

* Clarivate held $2.6 billion in cash and equivalents as of Jun. 30.

* Price action: CLVT shares closed higher by 1.53% at $23.16 on Tuesday.