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Press Release

ComInnex - Chemistry Innovation 2017 Review

ComInnex Inc.
Posted on: 29 Mar 18

BUDAPEST, Hungary, March 29, 2018 (GLOBE NEWSWIRE) -- ComInnex, a chemistry research company specializing in the design and synthesis of molecules for drug discovery, today announced its review of operations for 2017. The company enjoyed strong growth in both revenues and EBITDA based on its ongoing and new projects with major pharmaceutical companies.

The company's unique business model of applying its research projects into open collaborations with its customers led to significant growth in the compound library segment.  It also enabled ComInnex to open a new project in the area of DNA-encoded libraries where it has taken a market leading approach for the design and supply of underlying building blocks.

The FTE and Fee for Services custom chemistry division saw 40% growth as customers continue to value the high-quality problem solving based approach. ComInnex continues to invest in and apply novel and modern chemistry techniques like flow chemistry, metathesis synthesis and photochemistry. In 2017 the company also entered into a collaborative drug discovery research project with two leading Hungarian universities developing small molecule candidates for oncology applications.

ComInnex is a Budapest based specialist chemistry research organization operating in early stage drug discovery. The company has its own research projects for small molecule libraries that are packaged in projects with participant customers and custom chemistry services on a contract basis.

The company is privately held and a member of the Darholding group of companies, an upstream innovation incubating organization with interests in scientific research in pharmaceuticals, agrochemicals, fine chemicals, flavors and fragrances, laboratory instrumentation and chemistry development in Space. It operates globally through a network of companies who are all pioneers in their chosen field.

For further information please contact Mr. Alexander Drijver, CEO: alex.drijver@cominnex.com



This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: ComInnex Inc. via GlobeNewswire
HUG#2180589
GlobeNewswire
globenewswire.com

Last updated on: 30/03/2018

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