May 15, 2000--Large Scale Proteomics Corporation(TM) (LSPC, Rockville, MD), a subsidiary of Large Scale Biology Corporation(TM) (Vacaville, CA), and Biosite© Diagnostics, Incorporated (Nasdaq:BSTE - news) announced today a strategic discovery collaboration in the development of next-generation diagnostics.
In the collaboration LSPC will apply its proprietary proteomic discovery technologies to identify novel targets from patient samples provided by Biosite Discovery, Biosite's program aimed at the discovery of new markers of disease.
Under the collaboration, Biosite intends to utilize the novel targets (protein markers) with its proprietary Omniclonal(TM) antibody technology to develop diagnostics for numerous disorders, including cardiovascular, cerebrovascular, and neurological disorders. Biosite will retain target rights for the development and commercialization of FDA-approved in vitro diagnostics resulting from the alliance, while LSPC will retain target rights for other potential therapeutic and diagnostic uses. The companies will share in revenues from resulting products.
Biosite Discovery is a development program dedicated to the discovery of novel targets and corresponding antibodies primarily in the areas of cancer, cerebrovascular, cardiovascular and infectious disease. The program utilizes a broad base of technologies designed to provide biotechnology and pharmaceutical customers with an advantage in performing target characterization and validation.
Since its inception in 1988, Biosite Diagnostics Incorporated has been dedicated to meeting important clinical needs in emergency medicine by speeding the flow of critical diagnostic information. Biosite's position as a leading provider of Immediate Response Diagnostics© has been driven by its focus on customer satisfaction and technological innovation. Biosite's Triage brand products are used in 45 percent of U.S. hospitals and in more than 20 international markets. Additional information on the Company can be found at www.biosite.com.
Large Scale Proteomics Corporation, a subsidiary of Large Scale Biology Corporation with headquarters in Vacaville, California, is a leading provider of proteomic technologies to the life sciences industry, and is located in Rockville, MD. |
