STOCKHOLM & LUND, Sweden--(BUSINESS WIRE)--Jun 15, 2026--
Pelago Bioscience, a specialist drug discovery focused contract research organization (CRO), known for its industry-leading cell-based target engagement assays, is pleased to announce the acquisition of RG Discovery, and thereby adding deep expertise in medicinal chemistry, custom synthesis, and integrated drug discovery.
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By combining Pelago Bioscience's biology-focused capabilities with RG Discovery's chemistry expertise, the enlarged platform will enable drug discovery teams to accelerate decision-making, streamline workflows, and advance programs more efficiently from hit identification through lead optimization.
"Drug discovery increasingly requires seamless integration between chemistry and biology," said Michael Dabrowski, Chief Executive Officer of Pelago Bioscience. "By bringing RG Discovery into Pelago Bioscience, we can offer customers a single scientific partner capable of designing and synthesizing compounds, evaluating target engagement in living cells, and rapidly feeding those insights back into the next design cycle. This combination strengthens our ability to help customers progress programs faster and with greater confidence."
Pelago Bioscience’s proprietary Cellular Thermal Shift Assay (CETSA®)-based platform provides direct insight into how compounds engage their targets in living cells — data that now can feed straight back into RG Discovery’s next round of compound design, a continuous chemistry-to-biology cycle that neither a chemistry nor pure-biology CRO can offer. Hence, the combination closes the loop between compound design, synthesis, and market leading, direct in-cell target engagement — removing the vendor handoffs that slow programs from hit to lead.
Founded in 2011 by former AstraZeneca scientists, RG Discovery has built a reputation for solving complex chemistry challenges for biotechnology and pharmaceutical companies. The company employs approximately 40 scientists and operates from Medicon Village in Lund, Sweden, where its facilities include extensive chemistry and analytical infrastructure supporting a broad range of drug discovery activities.
"RG Discovery has always focused on helping customers solve difficult scientific problems through close collaboration and deep technical expertise," said Johan Evenäs, Chief Executive Officer and Co-founder of RG Discovery. "Joining forces with Pelago Bioscience allows us to expand that impact by combining world-class chemistry with world-class target engagement science. We are excited about the opportunities this creates for both our customers and our team."
About Pelago Bioscience
Pelago Bioscience is a drug discovery focused CRO, specializing in target engagement and target validation through its proprietary CETSA® technology platform. By measuring drug-target interactions directly in living cells and tissues, Pelago Bioscience helps pharmaceutical and biotechnology companies make more informed decisions throughout the drug discovery and development process. The company is headquartered in Stockholm, Sweden.
www.pelagobio.com
About RG Discovery
RG Discovery is an integrated drug discovery CRO headquartered in Lund, Sweden. The company provides medicinal chemistry, peptide chemistry, custom synthesis, ADME, bioanalysis, and related discovery services to biotechnology and pharmaceutical customers worldwide.
www.rgdiscovery.com
Michael Dabrowski, Chief Executive Officer of Pelago Bioscience
NEW YORK (AP) — The U.S. stock market is wavering Wednesday after several officials at the Federal Reserve indicated they may raise interest rates before the end of the year.
The S&P 500 fell 0.6% and erased an earlier, modest gain after the Fed released projections showing policymakers see the federal funds rate ending this year and the next two at higher levels than they had been forecasting a few months ago. Higher interest rates can keep a lid on inflation, but they also slow the economy and hurt prices for investments.
The Dow Jones Industrial Average went from a gain of 281 points before the Fed's announcement to a dip of 86 points, or 0.2%, as of 2:25 p.m. Eastern time. The Nasdaq composite slipped 0.6%.
In the bond market, Treasury yields rose after nine of 18 policymakers at the Fed said they are projecting at least one increase to the federal funds rate by the end of this year. One policymaker did not submit a forecast following the first meeting by the Fed since Kevin Warsh took over as chair.
The yield on the 10-year Treasury, which influences rates for mortgages and other loans going to U.S. households and businesses, rose to 4.45% from 4.43% late Tuesday. The two-year Treasury yield, which more closely tracks expectations for Fed action, jumped more. It climbed to 4.14% from 4.05%.
High yields in bond markets worldwide caused by worries about inflation have been threatening to slow economies and undercut prices for all kinds of investments.
In the stock market, SpaceX erased an early gain and dropped 2.4%. It's potentially on track for its first loss since its ballyhooed debut on the U.S. stock market last week.
That helped overshadow a jump of 19.1% for La-Z-Boy, which reported stronger profit and revenue for the latest quarter than analysts expected. It benefited from revenue made at newly opened stores, though Chief Financial Officer Taylor Luebke said the company continues to have “a measured view” of the broad sales environment.
A report released Wednesday said retailers across the country saw their revenue grow at a faster pace in May than economists expected, offering hope that solid spending by consumers can support the economy. But high inflation has also made U.S. shoppers feel more discouraged about their finances.
Iran is set to immediately take steps to reopen the Strait of Hormuz once the deal is signed, and that would allow oil tankers to exit the Persian Gulf once again and deliver crude to customers worldwide. The hope is that will take pressure off inflation.
Oil prices were steadier Wednesday following sharp slides earlier in the week on optimism about the tentative U.S.-Iran deal to get the global flow of oil going again. The price for a barrel of Brent crude oil rose 0.5% to $79.35. It’s still above its roughly $70 price from before the war, but it’s well below its $100-plus price from a few weeks ago.
Iran is set to immediately take steps to reopen the Strait of Hormuz once the deal is signed, and that would allow oil tankers to exit the Persian Gulf once again and deliver crude to customers worldwide. The hope is that will take pressure off inflation.
In stock markets abroad, indexes were mixed across Europe and Asia.
London’s FTSE 100 added 0.1% after a report showed U.K. inflation remained at 2.8% in May.
South Korea’s Kospi jumped 1.6%, and Hong Kong’s Hang Seng fell 0.7% for two of the world’s bigger moves.
AP Business Writers Chan Ho-him, Matt Ott and Elaine Kurtenbach contributed to this report.
Specialist Michael Pistillo, left, and trader Sean Spain work on the floor of the New York Stock Exchange, Tuesday, June 16, 2026. (AP Photo/Richard Drew)
Options trader Joseph D'Arrigo works on the floor of the New York Stock Exchange, Tuesday, June 16, 2026. (AP Photo/Richard Drew)
Employees of a securities company celebrate as Japan's benchmark Nikkei 225 topped 70,000 for the first time during trading hours in Tokyo Tuesday, June 16, 2026. A sign, left, reads " Congratulations. Nikkei index reached 70,000 yen." (Shinji Kouchi/Kyodo News via AP)
Employees of a securities company celebrate as Japan's benchmark Nikkei 225 topped 70,000 for the first time during trading hours in Tokyo Tuesday, June 16, 2026. A sign, left, reads "Congratulations. Nikkei index reached 70,000 yen." (Shinji Kouchi/Kyodo News via AP)
An electronic board, left, shows Nikkei index at a securities company in Tokyo Tuesday, June 16, 2026. (Shinji Kouchi/Kyodo News via AP)
Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Wednesday, June 17, 2026. (AP Photo/Ahn Young-joon)
A currency trader stretches near a screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Wednesday, June 17, 2026. (AP Photo/Ahn Young-joon)
