AUSTIN, Texas & LUBBOCK, Texas--(BUSINESS WIRE)--March 26, 2004--Emergent Technologies Inc. ("ETI") of Austin announced today that it has licensed antibody drug discovery technology from Texas Tech University Health Sciences Center in Lubbock. It is a breakthrough integrated diagnostic and therapeutic approach to be used in the design of customized anti-cancer and infectious disease treatments for individual patients.
ETI formed Receptor Logic Ltd. to commercialize the technology of Jon Weidanz, Ph.D., Assistant Professor of Pharmaceutical Sciences at the Texas Tech University Health Sciences Center School of Pharmacy in Amarillo, Vaughan Wittman, a School of Pharmacy graduate student, and Rony Tal, Receptor Logic's research director, all of whom are based at the School of Pharmacy at Amarillo.
Tommy Harlan, CEO of ETI, said, "Their innovation in antibody discovery and development virtually turns cells inside out by using the ubiquitous MHC molecules present in nearly all cells. These molecules transport peptides produced in each cell to the surface of that cell to be displayed to the immune system's T-cells. Receptor Logic is able to generate antibodies against intracellular peptides in the context of MHC molecules. MHC-based genomics and proteomics discoveries focusing on cures for cancer and infectious diseases can now become very valuable when coupled with this technology."
Lance Anderson, Director of Technology Transfer and Intellectual Property at Texas Tech University, said, "We are extremely pleased that ETI has chosen Texas Tech University and the West Texas region to develop companies. The Texas Tech University System components, including the School of Pharmacy at Amarillo, have an abundance of technology being developed. ETI investments contribute to the commercialization process so needed to expand additional research."
ETI will capitalize the new venture through its third investment fund, WesTech Ventures I, L.P. Gary Pankonien, President of WesTech, said, "Receptor Logic is being coupled with Pure Protein, another ETI portfolio company, to enable a novel approach to cancer and infected cell targeting and to drug delivery. This technology could change the practice of cancer and AIDS medicine around the world."
Harlan founded ETI in 1989 and directs the activities of ETI and its portfolio companies. ETI is a venture capital firm that specializes in forming, funding, commercializing and managing biotech companies for the purpose of converting institutional and university-based technology into high-return ventures. Visit its Web site at www.emergenttechnologies.com.
Emergent Technologies Inc., Austin John Hoopingarner, 512-263-3232, ext. 205