SOURCE: Bio-Quant, Inc.
BIO-QUANT CREATES NEW GPCR SCREENING DIVISION
New Division for Cost-Effective Technology That Enables Faster Time-to-Market for New Drug Remedies
SAN DIEGO--(BUSINESS WIRE)--Sept. 5,2001 --Bio-Quant, Inc., an emerging worldwide leader in Multiplex Detection Systems, today announced the formation of a new strategic internal business unit for providing new procedures, products and services to accelerate high throughput screening and proteomics for G-Protein Coupled Receptors (GPCRs), which function as delivery mechanisms for drug transport in the human body to fight diseases.
More than 50% of current drugs on the market attach themselves to GPCRs. Bio-Quant's new division will utilize fully integrated technology that reduces the cost and time of GPCR screening, enabling faster time to market for new drug remedies.
Dr. Bassam Damaj, president and CEO, stated, "There is a tremendous need for new chemical entities to modulate GPCRs given the wealth of information generated from genomics discoveries. Our new GPCR division positions Bio-Quant to greatly benefit from the increasing demand for new assays, reagents, and instrumentations to discover new drugs therapies by developing cost and time effective tools, facilitating a more expedient discovery of new chemical compounds for GPCRs."
Bio-Quant's new division offers fully integrated functional platforms that cover two main readouts for GPCR drug targets; Chemotaxis (cell motility) and Intracellular Calcium Mobilization Measurement (cell activation). The Chemotaxis platform includes new leakage resistant fluorescent dyes (ChemoDye), new lateral chemotaxis assay in 96 microplate format (ChemoScreen) and a new imaging device (ChemoReader) with liquid handling capabilities. The Intracellular Calcium Mobilization Measurement platform includes new leakage resistant and visible light fluorescent dyes (CalciDye), and a new multifunctional multi-size microplate imaging device (FLIBR: Fluorescent Infrared Bioluminescence Reader) with one liquid handling system that can dispense into 96, 384, and 1536 microplates.
Dr. Damaj added, "These two platforms for drug discovery will allow biotechnology/pharmaceutical companies to screen their compound libraries much faster and cheaper, enabling them to get to market much sooner."
About Bio-Quant, Inc.
Bio-Quant, Inc. is a leader in the multiplex detection systems and devices for High Throughput screening. Its proprietary, cutting-edge Multiplex Detection Technology gives the ability to test both qualitatively and quantitatively more than one disease marker at the same time in either blood or tissue samples. Its new FLIBR imaging technology and molecular drug discovery tools provide the pharmaceutical and drug development industry with faster ways and less expensive tools to develop drugs. For more information, visit Bio-Quant's web site at : www.bio-quant.com.
This press release may contain forward-looking statements regarding Bio-Quant Inc. Actual results may differ materially from those described in the press release as a result of a number of factors, including but not limited to the following: There can be no assurance that any product in the Bio-Quant product pipeline will be successfully developed or manufactured. The Company undertakes no obligation to revise or update any such forward-looking statement to reflect events or circumstances after the date of this release.
Contact:
Porter, LeVay & Rose, Inc.
Michael J. Porter, President 212/564-4700
or
Bio-Quant, Inc.
Bassam Damaj, Ph.D., CEO & CSO 858/663-1159
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