Woburn, MA, June 18, 2001
AlphaGene, Inc. has entered into an agreement with
Questar, an international Bioinformatics company, to
jointly exploit a selected number of putative
proteins from the AlphaGene novel inventory. Questar
will provide extensive bioinformatic support for
structure determination, pathway identification, the
creation of a library of potential small molecule
ligands in-silico screening of the small molecules.
In addition, Questar will provide standardization of
database construction and develop new algorithms for
data mining.
Questar will make an equity investment in AlphaGene
and retain the right to make further equity
investments to support this strategic association,
which both organizations believe would lead to rapid
value creation for both parties.
Donald J. McCarren, Ph.D., President and CEO of
AlphaGene stated, "The association of our two
companies permits AlphaGene to access bioinformatic
analytical expertise in the creation of unique
databases derived from differential gene expression
of the total AlphaGene inventory. In addition, this
collaboration will accelerate our movement toward
identifying validated drug targets."
"In completing this collaboration, Questar has
signaled its desire to build Intellectual Property
in downstream therapeutic projects with significant
market potential" stated C.S.N. Murthy,
President and CEO of Questar. "Furthermore, we
are delighted to have the opportunity to collaborate
with AlphaGene and thereby create a platform for our
activities in the United States. We look forward to
a long and productive association".
About AlphaGene, Inc.
AlphaGene, Inc. (http://www.alphagene.com)
is a privately held functional genomics company
offering products and services to biotech and
pharmaceutical companies engaged in drug discovery and
development. AlphaGene uses its large inventory of
full-length cDNAs and Bioinformatics expertise to
bridge the gap between genomics and functional
proteomics. The company focuses on differential gene
expression in degenerative neurological diseases
including Parkinson's and Alzheimer's
Diseases.
About Questar
Questar (http://www.questarbio.com)
is a start-up dedicated to developing and applying
state-of-the-art technology for acquiring, analyzing
and managing complex genetic information for the
Pharma and Life Sciences businesses. The company
focuses on Drug Target discovery, Drug Design and
Medical Diagnostics. Questar is at the cutting edge of
technology that will accelerate pharmaceutical
research and product development for the 21st
century.
