MITOKOR ACQUIRES CHIRON TECHNOLOGIES PTY. LTD."MIMOTOPES".MitoKor, San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , Calif., has acquired substantially all of the assets of Chiron Technologies Pty. Ltd. ("Mimotopes") of Melbourne, Australia, a subsidiary of Chiron Corporation Chiron Corporation was a multinational biotechnology firm based in Emeryville, California that was acquired by Novartis International AG on April 20 2006. It had offices and facilities in eighteen countries on five continents. of Emeryville, CA. By combining MitoKor's unique platform in mitochondrial mitochondrial pertaining to mitochondria. mitochondrial RNAs a unique set of tRNAs, mRNAs, rRNAs, transcribed from mitochondrial DNA by a mitochondrial-specific RNA polymerase, that account for about 4% of the total cell RNA that biology with Mimotopes' advanced technology in combinatorial chemistry Combinatorial chemistry involves the rapid synthesis or the computer simulation of a large number of different but structurally related molecules. Introduction Synthesis of molecules in a combinatorial fashion can quickly lead to large numbers of molecules. , solid phase synthesis and novel polymer systems, the company intends to form a fully integrated drug discovery company. As part of the arrangement, Chiron will collaborate with Mimotopes by funding specific drug discovery projects over the next three years. Other terms of the deal were not disclosed. With its comprehensive focus on mitochondrial biology, drug discovery and chemistry, MitoKor envisions forming a continuing series of research and development (R&D) alliances with biotechnology and pharmaceutical partners. Mimotopes will continue to sell its peptide products, proprietary kits and reagents to pharmaceutical and biotechnology researchers through its direct sales force and worldwide network of distributors. Mimotopes will also continue to collaborate with major pharmaceutical and agrochemical agrochemical Any chemical used in agriculture, including chemical fertilizers, herbicides, and insecticides. Most are mixtures of two or more chemicals; active ingredients provide the desired effects, and inert ingredients stabilize or preserve the active ingredients or aid companies in technology development and drug discovery programs. The combined entity will employ over 100 people and will have annual revenues exceeding $10 million. "Mimotopes' state-of-the-art chemistry resources combined with MitoKor's unique mitochondrial biology platform should provide a rich pipeline of small molecule drug candidates, both for partnering and internal development," said Walter Moos, Ph.D., chairman and chief executive officer of MitoKor. "I am delighted to work again with my former colleagues at Chiron Corporation and to be reunited "Reunited" was a #1 hit in the United States in 1979 by the Washington, D.C.-based group Peaches & Herb. Preceded by "Heart of Glass" by Blondie Billboard Hot 100 number one single May 5 1979 Succeeded by "Hot Stuff" by Donna Summer with the talented staff at Mimotopes in Australia." Mimotopes is a worldwide research service and supply company offering combinatorial chemistry and custom manufacture of chemical compounds, peptides, and related materials and kits. Originally formed in the mid-1980s as a spin-off from the Commonwealth Serum Laboratories, Mimotopes was acquired by Chiron Corporation in 1991. The company has distinguished itself as an early innovator of combinatorial chemistry techniques for drug discovery and as one of the world's largest manufacturers of custom peptides, peptidomimetics and small molecule libraries. "While at Chiron, Walter Moos and I, together with our colleagues, built the Mimotopes subsidiary into a world-class research enterprise and a profitable business," explained Ron Deane, managing director of Mimotopes. "We look forward to building an even more successful program in the coming years." MitoKor is the pioneering biotechnology company in the field of mitochondrial medicine. Mitochondria drive energy, metabolism, and the life and death of cells, participating in apoptosis apoptosis or programmed cell death Mechanism that allows cells to self-destruct when stimulated by the appropriate trigger. It may be initiated when a cell is no longer needed, when a cell becomes a threat to the organism's health, or for other reasons. and other key signaling pathways. Mitochondrial dysfunction is a major contributing factor in many patients with Alzheimer's and Parkinson's diseases and type II diabetes Type II diabetes Type II diabetes is the most common form of diabetes and usually appears in middle aged adults. It is often associated with obesity and may be delayed or controlled with diet and exercise. Mentioned in: Diabetic Ketoacidosis . MitoKor has established core competencies in mitochondrial and nuclear proteomics and genomics, disease modeling and pharmacogenomics Pharmacogenomics is the branch of pharmacology which deals with the influence of genetic variation on drug response in patients by correlating gene expression or single-nucleotide polymorphisms with a drug's efficacy or toxicity. , as well as drug discovery and diagnostic development technologies. For more information about MitoKor and Mimotopes, visit their Web sites at www.mitokor.com and www.mimotopes.com. |
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