Commonwealth Biotechnologies, Inc. Announces Expansion Into Genomics
And Proteomics Product Development
RICHMOND, Va., March 8 /PRNewswire/ -- Following the addition of several new platform technologies over the last 12 months and a recent alliance with
november A G, Erlangen, Germany, Commonwealth Biotechnologies, Inc., (Nasdaq: CBTE - news) announced today that it will be expanding its R&D effort into
the development of genomic and proteomic based products. Although it already holds patents on two of its own products, Heparrest(TM) (a potential human
pharmaceutical) and AccuTrac(TM) (a DNA sequencing aid), Commonwealth Biotechnologies' (CBI) major business activity has been that of a contract research
organization. In that role, CBI has been providing those same platform technologies and expertise to its clients in the global biotechnology industry.
``This is a natural extension of our current business, which is to provide state-of-the-art technologies and expertise to our clients. CBI has been supporting the
product development efforts of its clients since its inception. We will now direct those technologies and expertise to our own product lines,' said Robert B. Harris,
president of CBI.
Thomas R. Reynolds, Senior Vice President of CBI indicated that CBI's principal focus will be in the areas of genomics-based human, animal, and microbial testing
and diagnostics and proteomics for drug discovery. ``Those are areas where we have already had demonstrated success both for our clients and in our own
Heparrest(TM) and AccuTrac(TM) Programs. For example, CBI has several ongoing collaborative human and microbial genome sequencing projects which could
form the basis for future products,' said Reynolds.
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