TAMPA, FL--(Marketwire - April 23, 2009) - Nanobac Pharmaceuticals (PINKSHEETS: NNBP) merger
partner Eureka Genomics, a leader in analysis of next generation genomic
sequencing data and Glycos Biotechnologies, Inc. (GlycosBio), a pioneer in
metabolic engineering, announced today the sequencing of the genome of a
proprietary bacterium that will support the growth of the emerging
biorefinery industry. The new bacterial strain plays an important role in
GlycosBio's efforts to commercialize microbial strains to produce a variety
of high-margin biochemicals from a diverse set of feedstocks and co-product
streams that are traditionally considered waste or low value.
Ever since ethanol replaced MTBE, a gallon of gasoline couldn't be sold
without being blended with ethanol. As a result the U.S. ethanol producers
became a critical and mandatory component to the entire gasoline value
chain. Unfortunately, the U.S. ethanol industry is experiencing an
industry-wide financial crisis, largely due to the industry's lack of
financial stability and product diversity against price volatilities in
corn, natural gas and petroleum. By providing microbial strains that can
convert
co-products from ethanol production into higher value chemicals,
GlycosBio's technology platform will increase the economic stability of the
ethanol industry by enabling a sustainable biorefinery. GlycosBio's
proprietary bacterial strain will further aid the industry by accelerating
the development of technology to convert cellulosic biomass to ethanol or
valuable biochemicals.
"We are very impressed with the assembly that Eureka Genomics was able to
generate for us," said Dr. Paul Campbell, chief science officer of Glycos
Biotechnologies. "This work effort will accelerate our strain development
as we move towards commercialization efforts around converting cellulosic
biomass for the emerging cellulosic ethanol industry. The genomic sequence
data provided by Eureka Genomics were very easy to use. We wanted to look
at new genes and could not have done this without them."
"We were very glad to be able to work with GlycosBio on this project," said
Dr. Yuriy Fofanov, chief technology officer of Eureka Genomics. "There is
significant opportunity inside the GlycosBio lab to identify, modify and
create unique microbial strains that will continue to prove beneficial to
the biorefinery industry when commercialized. We believe that Eureka
Genomics' Next Generation Bioinformatics Service and Tools will open the
bottleneck that currently occurs between next generation sequencing data
and the analysis of that data. This is definitely an exciting time."
Eureka Genomics' proprietary algorithms and data structures allow the
company to seamlessly and efficiently process next-generation sequencing
data. In addition to providing GlycosBio with the gene analysis that will
help transform agricultural waste material into a high-value cellulosic
feedstock for biorefineries, Eureka Genomics is helping the
biopharmaceutical industry, academe, and the U.S. government redefine what
is possible in genetic, biological, and biomedical research through its
powerful Next Generation Bioinformatics platform.
Eureka Genomics' pipeline includes analysis for a wide variety of
applications including mapping, analysis of genetic variations, design of
probes and primers, methylation analysis, as well as discovery of the
non-host nucleic acids with complex diseases or present in samples
suspected of carrying an unknown microorganisms.
About Eureka Genomics
Eureka Genomics is a privately held company that has commercialized a
proprietary Next Generation DNA sequencing data analysis platform to enable
the discovery and development of next-generation diagnostics, therapeutics,
vaccines, and clean tech products such as bioenergy feed-stocks.
Eureka has announced its intention to merge with Nanobac Pharmaceuticals,
Inc. (PINKSHEETS: NNBP). The Merger Agreement is subject to significant
contingencies, including (1) conversion of substantially all of Nanobac's
debt to equity, by its securities holders, (2) Nanobac raising $2.35
million of new equity, (3) Nanobac providing to Eureka its audited
financial statements for the year ended December 31, 2008 and unaudited
financial statements through at least March 31,2009, satisfactory to
Eureka's management, (4) Nanobac bringing all of its SEC filings current,
and (5) other customary closing requirements.
Eureka is headquartered in Hercules, California and has operations in
Houston, Texas. For more information, please visit www.eurekagenomics.com
or contact Eureka Genomics COO Didier Perez at Didier@eurekagenomics.com.
About Glycos Biotechnologies, Inc.
Glycos Biotechnologies, Inc. (GlycosBio) partners with ethanol producers,
biodiesel producers, chemical companies, biorefineries and supporting
manufacturing organizations to convert low value co-product streams, such
as glycerin, that are readily available in the existing fuels and chemical
infrastructure. The GlycosBio microorganisms are also commercially
compatible with a wide range of carbon sources, including cellulosic
biomass, thin stillage from ethanol production, algae, and other renewable
feedstocks that traditionally have a nominal financial benefit to
producers. For more information, please visit www.glycosbio.com
