05:19 PM EDT, 07/09/2024 (MT Newswires) -- Certara ( CERT ) late Tuesday said it has signed a definitive agreement to acquire Chemaxon, a privately held cheminformatics software developer.

The deal should close during the second half of 2024, subject to regulatory approval and other customary closing conditions. Financial terms were not disclosed.

Chemaxon is developing software products providing chemical structure drawing, prediction, search and analysis tools, Certara ( CERT ) said.

The companies previously have partnered on various services to the life sciences industry for around 10 years. The deal will help expand Certara ( CERT ) biosimulation offerings used in later phases of drug development.