Press release
Cadence Expands into Molecular Simulation with Acquisition of OpenEye Scientific, a Pioneering Leader in Computational Molecular Design
Acquisition leverages Cadence’s computational software expertise into molecular modeling and simulation, focused on pharmaceutical and biotechnology drug
About this update from Cadence Design Systems, Inc.
[{"type":"text","content":"\nAcquisition leverages Cadence’s computational software expertise into molecular modeling and simulation, focused on pharmaceutical and biotechnology drug discovery\n\n SAN JOSE, Calif. & SANTA FE, N.M.--(BUSINESS WIRE)--\nCadence Design Systems, Inc. (Nasdaq: CDNS) announced today that it has entered into a definitive agreement to acquire privately held OpenEye Scientific Software, Inc., a leading provider of computational molecular modeling and simulation software being widely and increasingly used by pharmaceutical and biotechnology companies for drug discovery.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220725005392/en/\nThe addition of OpenEye’s technologies and experienced team with its deep scientific expertise accelerates Cadence’s Intelligent System Design™ strategy and expands its total addressable market (TAM), bringing Cadence’s computational software expertise to apply proven algorithmic, simulation and solver advances to life sciences.\n\nTechnological advancements, coupled with the rising demand for new drugs across a range of diseases, are driving increased demand for computational drug design. The growing utilization of computational techniques in drug discovery for pharmacology, chemical synthesis and drug screening to study the 3D structure of molecules is a major factor fostering the growth of the global biosimulation market, which has an estimated TAM of $2B and predicted to have a compound annual growth rate (CAGR) of approximately 15% over the next five years.\n\nBiosimulations are a critical tool for pharmaceutical research as they provide atomic-level insight into molecular interactions, and there’s a growing demand for high-performance simulation of larger biological systems over longer time scales.\n\nCadence continues executing its Intelligent System Design strategy and has successfully leveraged its computational software expertise to expand into the system analysis space to address the electromagnetics, thermal and computational fluid dynamics (CFD) challenges in the high-tech electronics, aerospace and defense, and automotive sectors. Cadence is now extending that computational software core competency to molecular modeling and simulation that is targeted to life sciences.\n\nOpenEye, an industry leader in computational molecular d...