COPENHAGEN, Denmark, September 13 /PRNewswire/ -- BioImage A/S, Denmark, today announced that it has signed a licensing agreement with Merck & Co, Inc. granting Merck the freedom to use BioImage's Redistribution(R) technology in its drug discovery research. Financial terms were not disclosed.
The Redistribution(R) patent portfolio covers a broad range of methods aimed at studying intracellular signalling events. The Redistribution(R) technology enables high throughput screening on a number of drug discovery live cell screening applications, such as protein translocations, receptor internalizations, protein trafficking, secretions, etc. BioImage is presently out licensing the portfolio to a number of leading companies within the life science industry.
"We are delighted and proud to have a world class pharmaceutical company like Merck license our patent portfolio", said Dr. Patrik Dahlen, CEO of BioImage. "By using the Redistribution(R) technology, researchers can track proteins in living cells and screen for compounds that affect specific cellular signalling pathways. This improves the biological relevance of drug screening and helps increase the speed and accuracy of drug discovery and development. At BioImage, we have developed an extensive experience in the area of protein translocation assays and pathway screening."
Notes for Editors:
BioImage A/S is a drug discovery company based in Copenhagen focusing on cell-based pathway screening for the identification of new therapeutics. The Company has drug discovery projects in inflammation and oncology disease areas. BioImage's approach to drug discovery monitors protein translocation in living cells - we call it Redistribution(R) - as the primary assay readout. BioImage tracks protein translocation with relevant targets that are tagged with Green Fluorescent Protein (GFP); this allows BioImage to optimize the use of GFP to develop unique drug discovery screening technology. BioImage has an extensive patent portfolio covering the concept of Redistribution(R). BioImage is also out licensing the portfolio to a number of leading companies within the life science industry including, Bristol Myers Squibb, Eli Lilly and Merck & Co.
BioImage employs approximately 40 people at its research facility in Copenhagen, at the center of Medicon Valley. The company is financially backed by leading international investors including, Apax Partners, Abingworth Management Ltd and Novo A/S.
For more information please visit http://www.bioimage.com/.
CONTACT: Contacts: Ulrik Vejlsgaard, Chief Operating Officer, BioImageA/S, Moerkhoej Bygade 28, DK-2860 Soeborg, Denmark, Tel:+45-44-43-34-44 Fax: +45-44-43-75-05 E-mail:firstname.lastname@example.org Web: http://www.bioimage.com/ MediaEnquiries: Eileen Paul, Northbank Communications, Tel:+44-(0)-1260-296500 Fax: +44-(0) 1260-296501 E-mail:email@example.com Web:http://www.northbankcommunications.com/