Tuesday December 4, 10:59 am Eastern Time
Press Release
SOURCE: New Brunswick Scientific Co., Inc.
New Brunswick Scientific Reports That DGI Biotechnologies: - Received Milestone Payment From Novo Nordisk for Insulin-Mimic Discoveries - Identifies New Anticancer Target Gene via Novel Proteomic Mining Technology
EDISON, N.J., Dec. 4 /PRNewswire/ -- New Brunswick Scientific Co., Inc. (``NBS'') (Nasdaq: NBSC - news), today reported that 47-percent-owned drug-lead- discovery operation DGI BioTechnologies, Inc. (DGI), has received a major-milestone payment from its collaborative research partner Novo Nordisk A/S. Denmark-based Novo Nordisk is a multinational pharmaceutical company with annual sales of $2.5 billion. Financial terms of the milestone payment were not disclosed.
The milestone was the first resulting from the DGI-Novo collaboration to find small molecule mimics for insulin, and was achieved using DGI's integrated drug-discovery platform Diogenesis® to identify and simplify the critical interaction between insulin and its receptor that underlies insulin's action mechanism. The company said that the mimics presented to Novo proved to be 1,000 times more potent than required, further validating DGI's Diogenesis platform.
New Brunswick Scientific also today reported the launch by DGI of Proteome Panning®, a novel proteome mining technology that has led to the identification of DGI-3, a new anticancer target.
Proteome Panning allows the rapid mining of DGI's proprietary RAPIDLIB® random Surrogate peptide libraries. A key attribute of this procedure is its simultaneous isolation and pairing of regulatory peptides, or Surrogates, with the majority of the proteins contained within a proteome. The Surrogate peptides isolated in the Proteome Panning process are then available, first, to identify the natural partner and protein network for the target protein and, second, to regulate its activity in model systems to complete target validation. The overall process, referred to as Phenogenix®, feeds into DGI's Diogenesis® platform, which searches for small molecule drug leads. Together, the two processes facilitate rapid post-genomic drug development.
New Brunswick Scientific stated that DGI has filed patents on the new DGI-3 gene and Proteome Panning® process.
New Brunswick Scientific Co., Inc., designs and manufactures a wide variety of research equipment and scientific instruments for the life sciences and holds a minority equity position in DGI BioTechnologies, Inc., a drug-lead-discovery operation. For further company information, visit nbsc.com.
DGI BioTechnologies, Inc., is a privately held biotechnology-based research company formed in January 1996 to develop its proprietary small molecule drug-discovery platform, called Diogenesis®. DGI BioTechnologies utilizes 10,000 square feet of newly equipped laboratory space in Edison, New Jersey. DGI presently has 33 employees in the fields of proteomics, molecular immunology, molecular pharmacology, and structural biology. DGI is focused on the identification of novel site-directed assays and promising drug leads that regulate protein-protein interactions for license to pharmaceutical and biotechnology companies as well as protein network identification and target validation for post-genomic discoveries. For further company information, visit dgibt.com.
Novo Nordisk A/S is a focused healthcare company and the world leader in diabetes care. In addition, Novo Nordisk manufactures and markets a variety of other pharmaceutical products. With headquarters in Denmark, Novo Nordisk employs approximately 16,000 people in 68 countries and markets its products in 179 countries. Its B shares are listed on the stock exchanges in Copenhagen and London. Its ADRs are listed on the New York Stock Exchange under the symbol ``NVO.'' For further company information, visit novonordisk.com.
SOURCE: New Brunswick Scientific Co., Inc. |
