Maidenhead, U.K., 11 December 2003 – The World Economic Forum announced today the designation of Procognia Ltd as one of 30 Technology Pioneers for 2004. Procognia has been recognised as developing and applying innovative and transformational technologies in the field of biotechnology. The cutting-edge work of Technology Pioneers in fields such as biotechnology, nanotechnology and renewable energy represents an enormous resource of entrepreneurial talent. This dynamic group is at the forefront of change in a variety of technology sectors.

 

In line with the Forum’s commitment to improving the state of the world, the Technology Pioneers programme was established in 2000 to provide a new perspective on technological change. The programme identifies and integrates those companies around the world that are involved in the design and development of new technologies. Each innovation, whether it has large or small consequences, is another step in society's attempt to harness, adapt and utilize technology to change and improve the way business and society operates. The World Economic Forum is invested in monitoring and highlighting these innovations and exploring possible societal repercussions.

 

Each year members, constituents and collaborators of the World Economic Forum nominate Technology Pioneers. The criteria for selection include innovation, potential impact on business and society in the future, growth and future sustainability, proof of technology concept and applications, leadership and status. Nominees are evaluated by an external review committee comprised of technology experts.  

 

Procognia’s mission is to acquire, develop and commercialize proprietary proteomics technologies that uniquely expedite the discovery, development and manufacture of higher quality therapeutics. Procognia’s U-c fingerprint product provides a means of accurately analyzing the carbohydrates on biologic products. Carbohydrates have an important influence on the safety, efficacy and identity of biologics, but they are very difficult to analyze and control by conventional methods. U-c fingerprint will significantly increase the speed of development and the probability of success of biologics. Procognia’s 2-c protein function array technology provides many proteins in a parallel format to increase the breadth of drug discovery and the options for screening therapeutics in development. Other protein analysis methods used today fail to perform on the same scale or with equivalent speed.

 

Ron Long , CEO and Chairman of Procognia, said: “We are pleased to be recognised by the World Economic Forum as an innovative company in the biotechnology arena. Our selection is important as it supports Procognia’s belief that improved proteomics tools will increase the speed and quality of medical care for patients worldwide. Such tools will certainly advance the field of personalized medicine.”

 

The uniqueness of the Technology Pioneer network ensures that companies involved in the development of new technologies are engaged in an integrated and interdisciplinary way. The Technology Pioneers community will provide the Foundation and its members with in-depth knowledge of some of the key technology issues facing society.

 

Additional information:

 

Procognia Ltd (www.procognia.com ) is developing and commercializing new technologies to increase the value of proteins in the post-genomic era. Procognia, a privately held company, was formed in 2001. The company currently has 75 employees at three facilities. Headquarters are located in Maidenhead, United Kingdom, with additional commercial operations in Philadelphia, PA, United States and additional R&D in Ashdod, Israel.

 

The World Economic Forum (www.weforum.org ), based in Geneva, Switzerland, is an independent organization committed to improving the state of the world. Funded by the contributions of 1,000 of the world's foremost corporations, the Forum acts in the spirit of entrepreneurship in the global public interest to further economic growth and social progress. The Forum serves its members and society by creating partnerships between and among business, political, intellectual and other leaders of society to define, discuss and advance key issues on the global agenda. Incorporated in 1971 as a foundation, the World Economic Forum is impartial and not-for-profit, and is tied to no political, partisan or national interests. In 1995 the Forum was awarded NGO consultative status with the Economic and Social Council of the United Nations.