Fremont, California, November 7th, 2012 - DiscoveRx today announced the acquisition of BioSeek, a drug discovery services company based in South San Francisco, California. BioSeek's phenotypic screening technology improves the success rate of pharmaceutical research and development by integrating primary cell profiling into the drug discovery process. The proprietary BioMAP® systems incorporate primary human cell-based disease models that generate predictive biological activity profiles for potential drugs. As a result, the technology drives the selection and development of new drug candidates and safer chemicals.
BioSeek, formerly part of the Asterand Company, has an established customer and partner base of pharmaceutical and biotech customers. Recently it was a recipient of a $46,770,000 grant award from EPA Toxcast® program for the use of BioSeek's human primary cell assay platform to help predict the biological activity and potential toxicity of up to 60,000 additional samples, including environmental chemicals, pesticides, failed pharmaceuticals and nanomaterials.
"The integration of Bioseek provides two new capabilities to DiscoveRx Corporation," said Pyare L. Khanna, President and Chief Executive Officer of DiscoveRx Corporation. "Expertise in primary cell disease models as well as a highly differentiated compound characterization service. These new capabilities further strengthen our position as a premier drug discovery solution provider that develops and commercializes high-value products and specialized services."
"BioSeek has become an integral part of the pharmaceutical industry's drug discovery programs, and in joining DiscoveRx, it will gain the opportunity to expand the utility of BioMap technology platform even further," said Jack Davis, Chairman and CEO of Asterand.
The acquisition represents another significant step in DiscoveRx's strategy to provide next generation drug discovery solutions through internal development and strategic acquisitions. The management teams of both organizations are committed to maintaining BioSeek's position as a provider of high value services and ensuring a seamless transition during integration. The financial terms of the deal are not being disclosed.
About DiscoveRx Corporation
Founded in 2000, DiscoveRx is a privately held, venture-backed company headquartered in Fremont, California, with additional offices in San Diego, California and Birmingham, England. The Company pioneered the use of β-galactosidase enzyme fragment complementation (EFC) in HitHunter® biochemical and PathHunter® cell based assays for discovery research. In addition to the EFC platform, DiscoveRx also holds extensive intellectual property for its second core technology, an in vitro binding assay platform called KINOMEscan®. Utilizing these two proprietary platforms, DiscoveRx has developed and commercialized industry leading panels of GPCR, Kinase, and NHR assay solutions for drug discovery research. Many of DiscoveRx's innovative solutions have been widely adopted in pharmaceutical, academic and biotechnology laboratories worldwide. For more information, visit www.discoverx.com.
About BioMAP Systems
BioMAP® Systems incorporate predictive primary human cell-based disease models that generate uniquely informative activity profiles of each potential drug, assisting in the selection and development of new drug candidates. For more information on BioMAP drug discovery services and collaboration opportunities, visit http://www.biomapsystems.com