COMPENDIA BIOSCIENCE ANNOUNCES THE RECEIPT OF A $2.4M SBIR AWARD AND RELATED MANAGEMENT CHANGES
Ann Arbor, Mich. (October 11, 2007) â€”Compendia Bioscience, Inc. today announced the receipt of a $2.4 million SBIR Fast Track Award from the National Cancer Institute to support the project entitled â€œDevelopment of Oncomine Professional as a Platform for Biopharmaceutical Research and Developmentâ€.
Compendia co-founder Dan Rhodes Ph.D., who will serve as the principal investigator for this project, will assume a full time position at Compendia Bioscience as Chief Executive Officer. Current CEO John Freshley will remain with the company as Chief Business Officer overseeing sales, marketing and corporate development.
â€œWe are thrilled with this award from the NCI and are looking forward to executing the project, which we expect will lead to increased applicability of Oncomine Professional to drug discovery and development.â€ said Dr. Rhodes.Â â€œAnd on a personal level, I am excited to have the opportunity to increase my level of commitment to Compendia.â€
â€œCompendia was founded in 2006 to extend Oncomine the commercial sector. Over the past year we have seen ever increasing acceptance of Oncomine in the biopharmaceutical arena, and with that growing sales, marketing, and business development demands.â€ commented John Freshley. â€œI am looking forward to concentrating on the continued commercial adaptation of this important product.â€
Oncomineâ„¢, a dynamic system that combines a rapidly growing compendium of 20,000+ cancer transcriptome profiles with a sophisticated analysis engine and a powerful web application for data mining and visualization, facilitates rapid and reliable biomarker and therapeutic target discovery, validation, and prioritization.
The NIH Fast-Track application process expedites award decisions and funding of SBIR Phase II applications for scientifically meritorious projects that have a high potential for commercialization. The Fast-Track process allows Phase I and II grant applications to be submitted and reviewed together.
About Compendia Bioscience, Inc.
Compendia Bioscience is dedicated to harnessing the global collection of high throughput molecular data to provide researchers with the data and analysis tools necessary to validate biomarker and gene target discoveries, better understand mechanisms of disease, and optimize clinical outcomes.