Odyssey Thera, Inc. Awarded Contract From the United States Environmental Protection Agency
6/22/2010 11:48:46 AM
SAN RAMON Calif., June 22 /PRNewswire/ -- Odyssey Thera, Inc., a leader in cell-based drug discovery and profiling technologies, announced today that it has been awarded a contract from the United States Environmental Protection Agency (EPA) to utilize its technology platform to profile the toxic effects of compounds in the agency's ToxCast program. The program's goal is to better define the potential impact of chemicals on the environment and human health. Under the contract, Odyssey Thera is eligible to receive more than $7 million in the first year and $34 million over a period of up to five years. The specific value of the award will depend on the volume of testing required during the contract period. The business was awarded to Odyssey Thera through a competitive process and reflects the company's expertise and proven ability to engineer and utilize novel cellular assays to monitor chemical activities.
Odyssey Thera has engineered the world's largest collection of high-content assays based on contextual Protein-fragment Complementation Assay (PCA) technology, and a supporting platform capable of capturing and analyzing hundreds of thousands of microscopic images per day. A proprietary database, consisting of detailed human cell response patterns for thousands of drugs and toxicants, powers the analysis of novel chemical entities and potential environmental hazards. "ToxCast is an ideal application of Odyssey's capabilities, and we are proud to have the opportunity to contribute to this important EPA initiative," said John K. Westwick, Ph.D., CEO of Odyssey Thera. "Our participation in these efforts exemplifies our commitment to improving human health. At the same time, it validates our business strategy of rapidly expanding the applications of our technology platform and the scope of our chemical response database."
Odyssey has previously applied its validated platform to accelerate target and drug development with premier pharmaceutical companies including Pfizer, Inc., Abbott Laboratories and Merck and Co. The EPA contract is the second major development for Odyssey's chemical and target profiling business in recent months, following the announcement in March of an alliance with Lonza.
About Odyssey Thera
Odyssey Thera, Inc. is a privately held drug discovery technology company focused on improving the success rate of new therapeutic development. Odyssey Thera's proprietary technologies measure pathway activity within living human cells. Odyssey Thera IP also covers the use of the technology in live animals, plants and diagnostic applications. To learn more about Odyssey Thera, please visit www.odysseythera.com.
About the US EPA ToxCast Program
The EPA launched the ToxCast research program in 2007 to develop a cost-effective approach for prioritizing the toxicity testing of thousands of chemicals in a short period of time. This new approach to determining how toxic chemicals could impact human health uses cutting-edge bioassays to determine how chemicals affect cellular functions. ToxCast will help the EPA determine conditions where environmental exposures pose risks to human health. For more information, see http://www.epa.gov/ncct/toxcast/.
SOURCE Odyssey Thera, Inc.