Cytomyx
and Exalpha Biologicals in GPCR product development collaboration
3rd
December 2002, Cambridge, UK and Watertown, MA USA – Cytomyx (AIM: CYX),
the pharmaceutical research product and services company, and Exalpha
Biologicals, a company focused on G protein-coupled receptors (GPCRs) and
assay development, today announced they have entered into a development
collaboration to jointly develop a series of novel products for use in
drug discovery research, including receptor membrane preparations,
recombinant cell lines and monoclonal antibodies.
The
initial focus of the collaboration will be on GPCRs, specifically the EDG
(endothelial cell differentiation gene) family of lysophospholipid growth
factor receptors that have been implicated in a variety of illnesses,
including immune diseases, coronary artery disease and cancer. The new
products originating from this collaboration will provide researchers with
novel discovery tools to speed up their drug lead molecule identification
process to tap these markets. The GPCR family of proteins are proven
targets for drug discovery with more than 30% of the drugs currently on
the market targeting GPCR function. In
addition, of the top 100 best selling pharmaceuticals products in 2000,
greater than 25% were active against GPCR targets, accounting for over $20
billion in sales.
Mike
Kerins, Cytomyx’ Chief Executive Officer commented, “We are excited to
be working with Exalpha, a leading developer of research tools in the
field of GPCRs and EDG receptors in particular. This collaboration is an
excellent example of how Cytomyx will exploit its’ existing technology
platform to create greater value through providing the pharmaceutical
industry with high value tools for their drug discovery efforts. It also
illustrates how Cytomyx will create synergy from Cambridge BioScience its
recently acquired research product distribution business. Cambridge
BioScience is the exclusive UK distributor for Exalpha products and the
collaboration will strengthen the links between each of the three
companies.”
John
Castracane, President of Exalpha Biologicals, Inc said, “I am delighted
to be working with Cytomyx, an industry leader in target identification
and qualification for drug discovery.
This collaboration is a perfect synergy between Exalpha’s
expertise in GPCR assay development and validation and Cytomyx target
identification and proteomics services.
Together we will be able to rapidly bring a host of new products
and drug discovery services to market”
It
is anticipated that this collaboration will generate significant value to
both companies through sales of the validated receptor targets and
associated products.
-
ends –
Cytomyx
Cytomyx
(AIM: CYX) is a Discovery Research Organisation (DRO) that provides a
range of services to support early stage drug discovery. The company’s
core business is to provide a complete ‘target-to-screen’ platform
that spans Target Discovery, via
proteomics and isolation of novel and known cDNAs, through to services to
support Target Validation &
Functional Studies, such as quantitative gene expression profiling,
recombinant protein production and mammalian cell line production.
Core
business activities are accessed through partnerships with biotechnology
and pharmaceutical companies worldwide. Existing partners include many
leading pharmaceutical and biotechnology companies. The company also plans
to use its technology platform to develop an intellectual property
portfolio through its own Discovery Research Program in collaboration with
leading academic and medical research groups. Formed in 1996, Cytomyx,
based in Cambridge, UK, is publicly listed on London’s Alternative
Investment Market.
Exalpha
Exalpha
Biologicals, Inc. is a privately held MA corporation founded in February
of 2000. Exalpha develops, markets, and sells biological reagents and kits
of high utility,
in a variety of current and pending healthcare applications generating
revenues from a growing domestic, OEM and international business. The
company’s emphasis is on GPCR targets and on
monoclonal antibodies targeting an ever-increasing range of important
biological markers, with specific focus on the exploding Drug Discovery
arena. Exalpha currently has over 40 active scientific collaborations
representing over 350 product concepts.
Operationally, the strategy is to license the results of external
research and discovery, to implement product development programs and
maintain value added and intellectual property positions in-house. The
portion of the Company’s chosen market arena which targets consumable
biological reagents and assay kits represents a total market of at least
$3+BB – with a forecasted annual growth of 18-20% for the foreseeable
future.
