SOURCE: Bio-Quant, Inc.
Bio-Quant and TEF Labs Sign Agreement to Jointly Develop Novel Fluorescent Dyes for Use in High Throughput Screening
SAN DIEGO & AUSTIN, Texas--(BUSINESS WIRE)--Oct. 2, 2001--Bio-Quant, Inc., a developer of advanced multiplex detection systems, and TEF Labs, a fluorescent probe company, announced today that they have entered into an agreement to jointly develop novel dyes for use in assays and tools for High Throughput Screening (HTS).
HTS is one of several tools pharmaceutical and biotechnology companies employ to find leads for drug candidates or to conduct basic biological research. Scientists screen biological samples, using HTS, to identify compounds worth pursuing as drug candidates.
Under the agreement, Bio-Quant and TEF Labs will develop the dyes using TEF Labs' proprietary chemistry, which will be applied to Bio-Quant's proprietary Fluorescence Infrared Bioluminescence Reader (FLIBR) and ChemoReader devices. FLIBR is a video image plate reader designed to read absorbance, luminescence, fluorescence and infrared, and is capable of detecting very low optical levels rom virtually any fluorescent dye available; ChemoReader is an imaging device designed to read our proprietary lateral 96 well HTS chemotaxis assay.
TEF Labs' proprietary chemistry will allow the development of the first visible wavelength ratiometric calcium indicator for use in High Throughput Screening (HTS) cellular signaling assays. Leakage resistance and membrane versions of the new dyes will significantly enhance flexibility in High Throughput Screening assay design and eliminate the need to wash the cells after their loading with the dye.
HTS enables scientists to rapidly assay thousands of compounds in search of biological activity for drug discovery. The drug discovery process begins with the identification of biological molecules that are involved in disease (disease targets) and the synthesis of chemical compounds (drug candidates), which may be able to act on these targets.
Dr. Bassam Damaj, president and chief executive officer of Bio-Quant, said, ``The FLIBR instrument is the ultimate machine for high throughput screening. Bio-Quant is committed to the field of High Throughput Screening and to adding value to its technology platform. This joint development effort with TEF Labs is an excellent example of this approach in an important drug discovery area with a large market potential. We are confident we can build on TEF Labs' innovation with our own imaging technology.''
The advanced multiplex technologies being developed by Bio-Quant are designed to facilitate simultaneous detection and quantification of several markers of a disease, allowing physicians to assess the presence and progression of the disease.
About Bio-Quant, Inc.
Bio-Quant, Inc. a leader in the multiplex detection systems and devices for High Throughput screening. Its proprietary cutting-edge Multiplex Detection Technology gives the ability to test both qualitatively and quantitatively more than one disease marker at the same time in either blood or tissue samples. Its new FLIBR imaging technology and molecular drug discovery tools provides the pharmaceutical and drug development industry with faster ways and less expensive tools to develop drugs. For more information, visit Bio-Quant's web site at www.bio-quant.com.
About TEF Labs
TEF Labs is a fluorescent probes developer with a specialty in ion indicators for cell signaling. Products include probes for calcium, sodium, pH. The founder and CEO, Dr. Akwazi Minta is a co-inventor with Dr. Roger Tsien of such probes as Fluo-3, Rhod-2, and SBFI and a pioneer in the filed of fluorescent probes chemistry -- TEF Labs is a leader in the market of fluorescent ion indicators. www.TEF Labs.com
This press release may contain forward-looking statements regarding Bio-Quant Inc. Actual results may differ materially from those described in the press release as a result of a number of factors, including but not limited to the following: There can be no assurance that any product in the Bio-Quant product pipeline will be successfully developed or manufactured. The Company undertakes no obligation to revise or update any such forward-looking statement to reflect events or circumstances after the date of this release.
Contact:
Porter, LeVay & Rose, Inc.
Michael J. Porter, President 212/564-4700
or
Bio-Quant, Inc.
Bassam Damaj, Ph.D., CEO & CSO 858/663-1159