Simulations Plus announced the acquisition of Immunetrics, a modeling and simulation company focused on accelerating drug development in oncology, immunology, and autoimmune diseases. Under the terms of the agreement, Simulations Plus agreed to pay the shareholders of Immunetrics cash consideration at closing in the amount of $15.5M, including a $1.8M hold-back, plus two future earn-out payments in the aggregate amount of up to $8M based on the revenue performance of Immunetrics through December 31, 2024. Following the close of the transaction, Immunetrics will be a wholly-owned subsidiary of Simulations Plus and will continue to operate under the Immunetrics name.
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