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Biotech / Medical : Aurora Biosciences (ABSC)
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To: tuck who wrote (338)1/10/2001 7:38:58 AM
From: nigel bates  Read Replies (1) of 359
 
Definite bargain IMO too (but carries a little more risk than INCY)

Jan. 10 /PRNewswire/ -- Aurora Biosciences® Corporation (Nasdaq: ABSC - news) today announced that it has entered into a second multi-year ion channel drug discovery technology agreement with GlaxoSmithKline. Aurora will provide GlaxoSmithKline global access to its ion channel technology platform for drug discovery and target validation. During the three-year term of the agreement, GlaxoSmithKline will utilize Aurora's current and next generation assay technologies within the field of ion channel discovery with Aurora providing ongoing technical support. Financial details were not disclosed.
``We are delighted that GlaxoSmithKline has made a strategic decision to access, on a global basis, Aurora's ion channel technologies,'' said Harry Stylli, Ph.D., Aurora Biosciences' senior vice president, commercial development. ``As a partner in ion channel drug discovery, GlaxoSmithKline will be in the lead in implementing and benefiting from Aurora's enhanced technologies and capabilities in this area.'' Dr. Stylli continued, ``Aurora has a dominant patent position on two-component fluorescent probe systems (the VSPs) for ion channel membrane potential assays and has experience in developing assays for many types of ion channel targets. With its second-generation voltage ion probe reader, Aurora continues to develop and commercialize innovative state-of-the-art proprietary solutions for drug discovery.''
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