Simulations Plus buys clinical trial data analysis firm

Simulations Plus (SLP +3.4%) enters into an agreement to acquire Buffalo, NY-based Cognigen Corp. Under the terms of the agreement, it will pay Cognigen shareholders a total of $7M ($2.8M in cash and $4.2M of SLP stock). $1.8M of the total consideration will be held back for two years to satisfy indemnifiable claims that may arise pursuant to the agreement terms.

Cognigen analyzes clinical trial data and generates reports tailored to regulatory agencies that save time and money by minimizing follow-up questions.

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