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Biotech / Medical : IGEN International -- Ignore unavailable to you. Want to Upgrade?

To: Russian Bear who wrote (270)	3/5/1998 10:31:00 AM
From: John Zwiener	Respond to of 1025

I had expected this high thru put system, though I thought it would be a couple of months from now (then a delay, etc.) It looks like they are right on top of it. Nice to see it with such a good pharmaceutical company. Of interest to me is they imply they can make new tests is days instead of months. Again this implies the advantage of this platform. ------------------------------------------------------------------------ Thursday March 5, 8:30 am Eastern Time Company Press Release SOURCE: IGEN International, Inc. Pfizer Acquires IGEN's First New High Throughput System GAITHERSBURG, Md., March 5 /PRNewswire/ -- IGEN International, Inc. (Nasdaq: IGEN - news) announced today that they have reached an agreement with Pfizer, Inc (NYSE: PFE - news) for the acquisition of the first ORIGEN(R) High Throughput Screening System, built around IGEN's recently completed ECL Modules (ECLM). In this agreement, Pfizer has paid for the right to acquire the initial units with delivery expected in 1998. Pfizer will receive alpha unit testing platforms in March 1998. Pfizer will utilize these systems in drug discovery projects. The ECLM allows IGEN to offer flexible throughput enhancement, with superior ORIGEN(R) assay performance. Specific terms of the deal were not disclosed. IGEN President, Dr. Richard Massey said, ''We are pleased that Pfizer will be our first customer for an ECLM-based product. The ECLM technology will allow IGEN to cost-effectively distribute ORIGEN-based products and services throughout multiple segments of the drug development path, with enhanced assay performance and versatility for high throughput screening. ORIGEN's ability to reduce significantly the amount of compound and receptor needed to perform a screen provides significant cost savings for our customers. ORIGEN assay development time is reduced to days versus months, eliminating a significant bottleneck for screeners. Interference from natural properties in compounds, which is a problem for many other screening technologies, does not effect ORIGENs high sensitivity.'' High Throughput Screening allows pharmaceutical discovery groups to evaluate candidate compounds from their combinatorial chemistry libraries in a rapid assay format, processing thousands of compounds per day. Methods typically involve screening libraries for activity related to specific therapeutic targets. ECLM is expected to provide the advantages of rapid assay kinetics and improved assay range, while reducing the volume of critical reagents.