Chalon Biotech Inc. And Borealis Biosciences Inc. Merge To Form Integrative Proteomics, Inc.Business Editors TORONTO--(BUSINESS WIRE)--Aug. 15, 2000 Chalon Biotech Inc. ("Chalon"), a leader in structural proteomics and purified proteins production, and Borealis Biosciences Inc. ("Borealis"), a leader in protein-protein interaction Protein-protein interactions refer to the association of protein molecules and the study of these associations from the perspective of biochemistry, signal transduction and networks. The interactions between proteins are important for many biological functions. , today announced they have completed a merger into a newly formed entity, Integrative Proteomics, Inc. ("IPI (Intelligent Peripheral Interface) A high-speed hard disk interface used with minis and mainframes that transfers data in the 10 to 25 MBytes/sec range. IPI-2 and IPI-3 refer to differences in the command set that they execute. See hard disk. "). The merger will create a leader in the emerging post-genomics field of proteomics and a pioneer in innovative technologies that will enable drug companies to bridge the gap between genomics and drug discovery. The company expects to announce shortly the completion of a US$8 million financing. Chalon and Borealis were founded by leading experts in proteomics at the University of Toronto's Banting and Best Department of Medical Research Banting and Best Department of Medical Research is the preeminent Canadian biomedical research institute located on the campus of University of Toronto. The department is named after Drs. and the Ontario Cancer Institute The Ontario Cancer Institute (OCI), Canada's first dedicated cancer hospital, opened officially and began to receive patients in 1958, although its research divisions had begun work a year earlier. , the research arm of Princess Margaret Hospital There are several Princess Margaret Hospitals :
IPI owns technology platforms for high throughput protein expression and purification, protein-protein interaction and three-dimensional structural determination. In addition, IPI is developing a proprietary relational proteomics database of protein structure and function that will be mined using computational knowledge discovery tools. "This merger will allow the companies to rapidly expand their operations and maintain their technological lead," Dr. Aled Edwards, 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. of IPI said. "Proteomics will eclipse the size of the entire genomics market and we intend to leverage our proprietary technological advantages to become the dominant proteomics company in this field," he added. |
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