Agencourt Bioscience Provides Genomic Services to Leading Biopharmaceutical Company; Agencourt Enters Agreement to Provide Millennium Pharmaceuticals Genomic Services.Business Editors and Health/Medical Writers BEVERLY, Mass.--(BW HealthWire)--June 3, 2002 Agencourt Bioscience Corporation, a provider of genomic services and products to improve the effectiveness and efficiency of drug development pipelines, today announced that it has entered a non-exclusive agreement with Millennium Pharmaceuticals Millennium Pharmaceuticals NASDAQ: MLNM is a biotechnology company based in the Cambridge, Massachusetts area of the United States of America. Founded in 1993, the company conducts research in various scientific areas, currently focusing on inflammation and oncology. , Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : MLNM) to provide a variety of genomic services to accelerate drug discovery. After completing a successful pilot project, Millennium selected Agencourt to provide Single-base Nucleotide Polymorphism polymorphism, of minerals, property of crystallizing in two or more distinct forms. Calcium carbonate is dimorphous (two forms), crystallizing as calcite or aragonite. Titanium dioxide is trimorphous; its three forms are brookite, anatase (or octahedrite), and rutile. (SNP SNP Scottish National Party Noun 1. SNP - (genetics) genetic variation in a DNA sequence that occurs when a single nucleotide in a genome is altered; SNPs are usually considered to be point mutations that have been evolutionarily ) Discovery, SNP Genotyping and Single Pass Sequencing services for selected projects. Millennium will retain some internal sequencing capabilities. Agencourt is using its proprietary SeeSNP software and fully automated sequencing pipeline to re-sequence the DNA sequences submitted by Millennium across multiple ethnically diverse populations. The data will be assembled and annotated to augment the estimated two million SNPs found in the publicly available Human Genome database. The data generated is used to formulate a better understanding of genetics resulting in the development of precise, customized medical treatments. "Through our work for Millennium, we are enthusiastic about the opportunity to demonstrate the effectiveness and bottom-line benefits of Agencourt's SNP Discovery package to one of the leading research and development pipelines," said Brian McKernan, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and co-founder of Agencourt. "This relationship is indicative of Agencourt's core competency to provide services and consumables to help biopharmaceutical companies streamline their drug discovery processes. We are uniquely positioned to meet the rapidly growing demand in the life sciences community for utilizing SNP Discovery and SNP genotyping to fully understand the correlation between SNPs and diseases." About Agencourt Bioscience Corporation Agencourt Bioscience Corporation is a provider of genomic services and products such as DNA Sequencing, SNP Genotyping and DNA DNA: see nucleic acid. DNA or deoxyribonucleic acid One of two types of nucleic acid (the other is RNA); a complex organic compound found in all living cells and many viruses. It is the chemical substance of genes. Purification to the life sciences industry. Agencourt solutions help biotech and pharmaceutical companies improve the effectiveness and efficiency of their drug development pipelines. The company's proven and patented Solid Phase Reversible Immobilization Immobilization Definition Immobilization refers to the process of holding a joint or bone in place with a splint, cast, or brace. This is done to prevent an injured area from moving while it heals. (SPRI SPRI Scott Polar Research Institute (University of Cambridge) SPRI Single Ply Roofing Institute SPRI Schering-Plough Research Institute (Corporate division) (TM)) technology has been used to sequence over 20 billion base pairs of high-quality DNA or more than one-third of the human genome. Several of Agencourt's founders worked at the Whitehead Institute Center for Genome Research, and have significant experience in marrying the chemistries and instrumentation for high-throughput genomics. Agencourt is located in Beverly, Mass. and is available on the Web at www.agencourt.com. |
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