Genentech Purchases Arrayit Technology
SUNNYVALE, Calif., Sept. 10, 2013 /PRNewswire/ -- Arrayit Corporation (OTCQB: ARYC) reports that pharmaceutical giant Genentech has purchased Arrayit's patented technology to accelerate drug discovery.
Genentech purchased Arrayit's NanoPrint™ LM60 Microarrayer Platform including a manufacturing robot, printing pins and consumables for $138,000. Genentech's pioneering research using ARYC technology was published in the April 2013 edition of "Current Protocols in Protein Science" by Genentech scientists Dr. Irene Tom, Dr. Nicholas Lewin‐Koh, Dr. Sree R. Ramani and Dr. Lino C. Gonzalez in the Department of Protein Chemistry, Genentech, in South San Francisco, California USA. The scientific publication is available on-line using the link: http://www.currentprotocols.com/WileyCDA/CPUnit/refId-ps2703.html.
Genentech scientists employ Arrayit protein microarray technology to screen protein-protein interactions in a massively parallel manner as a means of speeding the discovery of new protein drugs. Genentech's authors emphasize that "Functional protein microarrays offer the capability for high-throughput protein interaction analysis and have long promised to be a powerful tool for understanding protein interactions at the proteome scale."
Proteins are the molecules encoded by cellular genes, and the approximately 25,000 genes in the human genome encode all of the known proteins in the human body, which is known as the human proteome. Proteins possess significant therapeutic value, as emphasized by Genentech's blockbuster protein drugs Rituxan, Avastin and Herceptin, which have combined annual sales of approximately $7.8B. Genentech was acquired by Roche in 2009 for $46.8B and operates as a member of the Roche Group.
List of other Arrayit Corp Customers
Centers for Disease Control
Veterans Administration Medical Center
West Point Military Academy
Sandia National Laboratory
Commonwealth Scientific and Industrial Research Organization (CSIRO)
Infectious Disease Research Institute
National Institutes of Health
Virginia Biosciences Community
Lawrence Berkeley National Laboratory
Genesis Diagnostics Ltd
Excelsior Bio-Systems Inc
Ibis Bioscience/Abbott Laboratories
Perkin Elmer Life Sciences
European Biotech Network
SIC Vita S
Molecular Devices UK Ltd.
Research Biolabs Pte Ltd
University of Texas Southwestern Medical Center
University of Illinois
University of Oklahoma
University of California, Davis
Arizona State University
University of Arizona
University of California, San Diego
About Arrayit Corporation
Arrayit Corporation is a Sunnyvale, California-based company leading and empowering the genetic, research, pharmaceutical, and diagnostic communities through the discovery, development, and manufacture of proprietary life science technologies and consumables for disease prevention, treatment and cure. The company's innovative products and services help scientists and clinicians explore the human genome as well as the genomes of plants and animals. Arrayit's products are used by nearly every major research center in the world.
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Except for historical information contained herein, statements made in this release that constitute forward-looking statements are based on currently available information, involve certain risks and uncertainties and the Company assumes no responsibility to update any such forward-looking statement. The following factors, among others, may cause actual results to differ materially from the results suggested in the forward-looking statements. Risks that may result from changes in the Company's business operations; our ability to keep pace with technological advances; significant competition in the biomedical business; our relationships with key suppliers and customers; quality and consumer acceptance of newly introduced products; market volatility; non-availability of product; excess inventory; price and product competition; new product introductions, the outcome of our legal disputes; the possibility that the review of our prior filings by the SEC may result in changes to our financial statements; and the possibility that stockholders or regulatory authorities may initiate proceedings against Arrayit and/or our officers and directors as a result of any restatements. Risk factors associated with our business, including some of the facts set forth herein, are detailed in the Company's Form 10-K for the fiscal year ended December 31, 2012 and Form 10-Q for the fiscal first quarter ended March 31, 2013, Form 10-Q for the fiscal second quarter ended June 30, 2013 .
SOURCE Arrayit Corporation
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