CAMBRIDGE, Mass., and
DURHAM, N.C., July 2, 2015 /PRNewswire/ -- XRpro Sciences, Inc.
today announced its acquisition of assets related to the ion
channel biology platform from Pfizer Inc. (NYSE: PFE) that had
previously been obtained as part of Pfizer's 2011 acquisition of
Icagen, Inc. XRPro Sciences also acquired all of Pfizer's
rights to the "Icagen" name and trademark. XRPro Sciences is
re-launching the Icagen brand and will provide comprehensive
services for ion channel and transporter drug discovery, combining
Icagen's industry-leading scientific expertise and extensive
portfolio of assays and cell lines with XRpro Sciences'
proprietary, label-free X-ray fluorescence
technology. The new Icagen will continue to operate out
of the existing facility in Research
Triangle Park, North Carolina in addition to the current
XRpro Sciences Inc. site in Cambridge,
Massachusetts. Pfizer scientists associated with the
ion channel biology platform will transition to the new Icagen,
ensuring continuity of their extensive scientific expertise.
"Pharmaceutical and biotech companies are looking for efficiency
improvements and expertise in the drug development process and are
increasingly relying on outsource providers," said Richie Cunningham, Chief Executive Officer of
the new Icagen. "Icagen is being re-launched to enable such
companies to advance their ion channel and transporter drug
discovery by bringing together the outstanding expertise of Icagen
scientists with an unmatched portfolio of ion channel cell lines
and assay technologies."
"The Pfizer team transitioning to the new Icagen has more than
two decades of leadership in the ion channel field and a long track
record of success in moving compounds from discovery into clinical
development across a variety of therapeutic areas, both alone and
in partnership with leading pharmaceutical developers including
Pfizer, Bristol-Myers Squibb and Johnson & Johnson," Mr.
Cunningham continued. "This expertise, combined with a continually
expanding collection of ion channel tools and technologies and the
enabling capabilities of XRpro's high throughput technology,
positions us to provide services in the ion channel and transporter
research fields that are second to none."
"We look forward to once again operating as an independent
company and collaborating with pharmaceutical and biotechnology
industry researchers on their discovery and preclinical development
problems, without limitations on the therapeutic areas or ion
channels of interest," said Douglas
Krafte, Ph.D., Chief Scientific Officer of the new Icagen.
He noted that the company's research efforts to date had
covered multiple ion channel classes and a broad range of
therapeutic indications including cardiac arrhythmias, sickle cell
anemia, asthma, epilepsy and pain. "We also look forward to having
a positive impact within the area of transporter research by
harnessing the unique capabilities of the XRpro® platform for
evaluating previously challenging targets, like nonelectrogenic
transporters."
Dr. Krafte continued, "At the same time, working since 2011
as part of Pfizer has enabled us to significantly grow our
technological resources and gain unique insights into large company
perspectives about drug R&D that will serve our clients well as
we go forward."
"We are pleased to enter into this agreement with XRpro Sciences
that will provide flexibility and ensure technical excellence in
the pursuit of ion channel therapeutics," said Michael Ehlers, MD, PhD, Pfizer Senior Vice
President of Biotherapeutics R&D. "We look forward to
working with the new Icagen to discover new drug candidates
targeting ion channels and transporters that impact major
neurological and cardiovascular diseases."
About the new Icagen
The new Icagen partners with pharmaceutical and biotechnology
companies to offer industry-leading scientific expertise and
comprehensive access to technologies for ion channel and
transporter drug discovery and development. With over 20 years of
leadership in the ion channel field, the Icagen team offers an
extensive track record of success in advancing molecules from drug
discovery to clinical development across multiple therapeutic areas
and ion channel classes. Icagen's growing tool box comprises a
broad range of cell lines and technologies for ion channel and
transporter research, capped by the label-free XRpro®
platform. XRpro® technology, based on X-ray fluorescence, is
a novel method that enables high throughput assessment of ion
channels and transporters, including challenging systems with high
therapeutic interest. For more information on our company,
please visit our website at www.icagen.com .
This release includes forward-looking statements on the
Company's current expectations and projections about future events.
In some cases forward-looking statements can be identified by
terminology such as "may," "should," "potential," "continue,"
"expects," "anticipates," "intends," "plans," "believes,"
"estimates," and similar expressions. These statements are based
upon current beliefs, expectations and assumptions and are subject
to a number of risks and uncertainties, many of which are difficult
to predict and include statements regarding the combination of
the expertise of the Icagen team and XRpro technology to
fully enable ion channel and transporter drug discovery and
development, the combination of the Icagen team, ion channel
tools and technologies. The forward-looking statements are subject
to risks and uncertainties that could cause actual results to
differ materially from those set forth or implied by any
forward-looking statements. Important factors that could cause
actual results to differ materially from those reflected in the
Company's forward-looking statements include, among others, our
ability to successfully combine the acquired assets and the Icagen
team with the prior XRpro team and technology and the other factors
described in the Company's Report on Form 10-K for the year ended
December 31, 2014 and any other
filings with the SEC. The information in this release is provided
only as of the date of this release, and the Company undertakes no
obligation to update any forward-looking statements contained in
this release on account of new information, future events, or
otherwise, except as required by law.
Contacts:
For Investors:
Daniel
Boutcher, dboutcher@xrpro.com, Ph: (212) 406-9012, Mobile:
(973) 332-0120
For Media:
Joan
Kureczka, Joan@kureczka-martin.com, Ph: 415-821-2413
Nicole Litchfield,
Nicole@bioscribe.com, Ph: 415-793-6468
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SOURCE XRpro Sciences, Inc.