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DiscoveRx Corporation Acquires Ambit Biosciences Screening Unit


11/18/2010 8:13:12 AM

FREMONT, Calif.--(BUSINESS WIRE)--DiscoveRx® Corporation announced today the acquisition of the KINOMEscan kinase screening services division from San Diego-based Ambit Biosciences. The addition of this new business unit will further strengthen DiscoveRx’s position as the market leader of novel, proprietary and validated GPCR and kinase assays for high-throughput screening and profiling and will enable customers to improve research productivity and effectiveness, thus accelerating the discovery and development of new drugs. By combining solutions the new DiscoveRx offers the largest collection of assays comprising of over 400 functional cell-based GPCR and kinase assays as well as an industry leading panel of 442 kinase assays, thereby creating centers of excellence for both GPCRs and kinases.

“The acquisition of KINOMEscan represents our commitment to build a company and a brand that positions us as the leading solution provider across the drug discovery continuum. We are a leader in next generation GPCR and kinase technology with our award winning PathHunter® and HitHunter® brands. With the majority of pharmaceutical drug discovery programs centered around the GPCR and kinase target classes, the addition of the KINOMEscan platform, a proven technology for high-throughput kinase screening and profiling complements our PathHunter and HitHunter cell-based kinase and GPCR assay platforms. We are also excited about San Diego emerging as a center of excellence for kinase-based discovery technologies and services. Our new geography strengthens our ability to leverage the outstanding resources that exist at all of our locations,” said Pyare Khanna, Ph.D., Chief Executive Officer & President of DiscoveRx Corporation.

About DiscoveRx Corporation

Founded in 2000, DiscoveRx is a privately held, venture-backed company headquartered in Fremont, California, with an additional office in Birmingham, England. The Company pioneered the use of ß-galactosidase enzyme fragment complementation in biochemical and cell based assays for discovery research, and holds extensive intellectual property in this area. DiscoveRx is dedicated to the development and commercialization of innovative solutions to study GPCRs, Kinases and other major drug target classes, and many of their innovative products have been widely adopted in pharmaceutical and biotech drug screening laboratories worldwide. The Company is also a recipient of two Frost and Sullivan 2008 awards: Award for Innovation in North American Healthcare Market as well as a European Product Line Strategy Award for its GPCR Cell Based assay portfolio. For more information on DiscoveRx products, please visit www.discoverx.com.


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