Nanobac Pharmaceuticals, Inc. Merger Partner, Eureka Genomics, and Glycos Biotechnologies, Inc. Work Together to Sequence Proprietary Bacterium to Support Emerging Biorefinery Industry
Published: Apr 23, 2009
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
For More Information, Contact:
(415) 269 0666
Alex H. Edwards III