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News | November 30, 2000  Protein Sciences And HTS Biosystems To Collaborate In Protein "Chip" Development For Proteomics MERIDEN, Conn and HOPKINTON, Mass - November 30, 2000 - Protein Sciences Corporation (PSC) and HTS Biosystems, Inc. (HTS), announced today that they have entered into a strategic collaboration to facilitate the discovery of novel protein molecules for the drug and diagnostics markets through innovative solutions for proteomics. This alliance combines PSC's experience and world leadership in the production of proteins in insect cells with HTS Biosystems' extensive technology and expertise in producing tools for the high-throughput screening market. The collaboration will focus on generating a catalogue of proteins and their affinity counterparts. This unique collection of molecules will be available to customers for product development. Full documentation on each molecule, which traces the molecule back to its original source, is available, providing assurance not only of the molecule's quality but also of the customers' ability to obtain bulk quantities of molecules of interest from Protein Science's GMP facility. This unique effort is expected to streamline the discovery process, which is presently very slow and time consuming. A parallel collaborative effort between PSC and HTS Biosystems involves the development of custom-made protein chips tailored to the specific needs of the pharmaceutical and biotech industries. Under this agreement, PSC has provided HTS Biosystems with the exclusive rights to use PSC's existing protein library and to market and sell proteomic chips and pure proteins in low quantities. PSC retains the rights to all bulk production of these proteins/peptides and affinity molecules. Manon Cox, vice president of corporate development at Protein Sciences, commented, "We are very pleased with this collaboration. It will allow us to exploit a market that we recognized as important but were unable to enter by ourselves." She added, "Together, HTS Biosystems and Protein Science will offer the pharmaceutical and biotechnology industries a powerful solution that streamlines their development process." Enrico Picozza, chief operating officer at HTS Biosystems, said, "It is our intent to expand our collaboration to provide unique services that are in high demand. By combining our systems with the ability to acquire quantities of proteins necessary for screening or molecules for use in clinical trials, we can reduce time to market. This demonstrates, once again, our commitment to provide integrated and seamless solutions for the proteomics market." Founded in 1983, Protein Sciences Corporation (http://www.proteinsciences.com) is the world leader in developing commercial protein-based human and veterinary vaccines and therapeutics by producing proteins in insect cells using baculovirus expression vector system (BEVS) technology. The company's GeneXpress(R) program enables customers to access Protein Sciences' proprietary BEVS technology to obtain human and animal proteins for screening and cGMP clinical materials from genes more reliably, rapidly and less expensively than through alternative protein expression systems. HTS Biosystems, Inc. (http://www.htsbiosystems.com) applies a unique portfolio approach to provide high-throughput bioanalytical systems for the rapidly growing field of proteomics. This portfolio includes novel label-free detection systems as well as advanced fluorescence-based technologies to provide a comprehensive suite of tools supporting all phases of drug discovery and development of unique diagnostics. HTS Biosystems was formed by combining technology and intellectual property from its initial shareholders, including its major shareholder, Quantech Ltd. (http://www.quantechltd.com) (OTC Bulletin Board: QQQQ). This technology portfolio provides the foundation for the company to become the definitive source of various high-throughput systems and chemistries for the detection of molecular interactions and cellular changes. GeneXpress is a registered trademark of Protein Sciences Corporation. SOURCE HTS Biosystems, Inc. |
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