AxoSim will also assume responsibility for future lease-related liabilities worth about $1.2m. Image Credit: PopTika / Shutterstock.

AxoSim has acquired the microBrain drug discovery technology platform from StemoniX, a subsidiary of Vyant Bio to develop drugs for neurological disorders.

Apart from the drug discovery platform, the acquisition also included a research, development, and manufacturing facility near Minneapolis, US, nine patents for the technology, and the associated intellectual property (IP). Furthermore, the StemoniX staff who were working on microBrain technology will also transfer to AxoSim. 

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The total deal is worth $2.25m, with $1.1m of this to be paid at closing and the rest being paid over one to two years following closing based on milestones. Furthermore, AxoSim will also assume responsibility for future lease-related liabilities worth $1.2m.

microBrain is a phenotypic drug discovery platform that uses human induced pluripotent stem cells (iPSCs), high-throughput neural screening and bioanalytics to build live biomimetic models for drug discovery and toxicity testing. It can be used to research brain activity in epilepsy, Rett Syndrome, and Parkinson’s disease.

Multiple companies have invested in building drug discovery models, with many using artificial intelligence (AI) to assist in these endeavours. GlobalData has identified more than 250 unique active drugs using terms such as “AI” or “machine learning” in their descriptions last year.

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Other technologies in AxoSim’s portfolio include the nerve conduction study platform, NerveSim, which can be used to discover therapies for chronic pain, neurotoxicity, and peripheral neuropathy. The company’s BrainSim technology provides a 3D miniature brain model that can be used in preclinical studies for multiple sclerosis and other myelination-related disorders.