ChanTest Acquires Applied Cell Sciences ( Expanded drug discovery and developme...)

ChanTest Acquires Applied Cell Sciences

Date:2/26/2009

Expanded drug discovery and development services, cell lines, and reagents now cover nearly half of the known drugable genome

CLEVELAND, Feb. 26 /PRNewswire/ -- The leading experts in ion channels and GPCR (G-protein coupled receptors) - key to drug discovery, development, and safety - are now united. ChanTest, the leading provider of ion channel testing services and validated cell lines, announced that it has acquired Rockville, Maryland-based Applied Cell Sciences. ACS is a contract research organization (CRO) specializing in GPCRs. The combined company will maintain both facilities in Rockville and Cleveland. Jesse Baumgold, Ph.D., who has led ACS since its inception in 2004, has been named ChanTest vice president of business development and product strategy. He will continue to direct the company's operations in Rockville. Terms of the acquisition were not disclosed.

Applied Cell Sciences products and services include optimized GPCR functional analysis tools, high-throughput screening reagents and reagent-development services, stable GPCR cell lines, cell membranes for binding studies, cryopreserved growth-arrested cells, custom cell line construction, gene-to-screen cell line construction and validation, large-scale cell cryopreservation, and specialized screening services. Going forward, ACS products and services will be marketed under the ChanTest name.

"We are now uniquely positioned to serve the drug discovery and safety needs of pharmaceutical and biotech customers with the most-comprehensive portfolio available of ion channel and GPCR services, reagents, and cell lines - covering nearly half of the known drugable genome," said ChanTest President and Chief Executive Officer, Arthur M. "Buzz" Brown, M.D., Ph.D. "The ChanTest library currently contains 84 ion channel-expressing cell lines, and ACS has 48 GPCRs. However, the end result is much more than a simple expansion of our respective products and
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ChanTest Acquires Applied Cell Sciences( Expanded drug discovery and developme...)