BIOCIUS Life Sciences forms Independent Operating Company
RapidFire® Business Unit completes strategic spin-out from BioTrove Inc.
Woburn, MA. December 16, 2009 – BIOCIUS Life Sciences announced today that it has completed its spin-out from BioTrove Inc. and is an independent operating company. BIOCIUS Life Sciences holds all of the RapidFire® intellectual property and technology; most importantly every employee of the former BioTrove RapidFire business unit is now a member of BIOCIUS Life Sciences.
BIOCIUS is supported by a syndicate of investors that includes Catalyst Health Ventures, Excel Venture Management, Fletcher-Spaght, CB Health Ventures, Vox Equity Partners, Echelon Ventures and BioFrontier Partners. Led by Chairman and Chief Executive Officer Jeffrey Leathe, the BIOCIUS team of experienced scientists and engineers will now be able to focus their resources on the RapidFire product line as well as new research and development projects committed to eliminating bottlenecks in drug discovery for their clients and collaborators. According to Mr. Leathe, “BIOCIUS is well capitalized and we plan to maximize on our strengths in drug discovery products and services to aggressively expand our portfolio and add value to our many collaborators in the pharma and biotech community. The current and future customer base will benefit from the shared vision and innovative solutions of our expansive pipeline.”
Joining Mr. Leathe, are corporate officers Dr. Can ‘Jon’ Özbal, COO and Mr. Gary St. Pierre, CFO who will lead an experienced executive team with a history of success in the biotech and pharmaceutical market. Building on a breakout year in 2009 for sales of RapidFire instruments and services, BIOCIUS plans to continue its concentration on the application areas of in vitro ADME and lead discovery, with its industry-leading, label-free platform. According to Dr. Can ‘Jon’ Özbal, “new products in the pipeline will both enhance the workflows of our existing pharma and biotech customers, and allow us to expand that customer base with technologies also suited to our clients at academic and government institutions.”
About RapidFire® Technology
RapidFire mass spectrometry greatly decreases the bottlenecks that occur during drug discovery. By enabling automated sample preparation at a rate of up to six seconds per sample and integrating seamlessly to the mass spectrometer, RapidFire enhances high-throughput screening of candidate drug compounds and in vitro ADME assays. RapidFire allows for the analysis of a wide range of otherwise intractable targets such as triglycerides, lipids, fatty acids, prostaglandins, steroids, coenzyme A derivatives, neurotransmitters, epigenetic targets, anti-fungals and anti-infectives, which are difficult to study using traditional methods such as fluorescence or radiolabels. RapidFire hardware is available as a solution in our collaborators laboratories or as a contract research service in the BIOCIUS laboratory.
About BIOCIUS Life Sciences, Inc.
Named from the Greek word “BIO” (life) and the Latin word “OCIUS” (faster), BIOCIUS Life Sciences, provides the biopharmaceutical industry with faster answers: Products and services committed to speed and accuracy in drug discovery. Used by 13 of the top 15 pharmaceutical companies, BIOCIUS’s products and contract research services enable our partners to exceed their business goals.
Jennifer M. Rossi, PhD
Director of Marketing & Corporate Communications