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ChanTest Awarded $4.8 Million Through the Ohio Third Frontier Research and Commercialization Program
Date:5/6/2009

CLEVELAND, May 6 /PRNewswire/ -- ChanTest, the leading expert in ion channels and GPCRs (G-protein coupled receptors) -- key to drug discovery, development, and safety -- is one of eight organizations slated to receive funding through Ohio's Third Frontier Research and Commercialization Program. Governor Ted Strickland and Interim Director of the Ohio Department of Development and Chair of the Ohio Third Frontier Commission, Mark Barbash, announced the competitive grants last week, which are awarded to spur development of innovative products and services and accelerate economic growth in Ohio. ChanTest will use the $4.8 million grant to expand its library of validated ion channel and GPCR cell line products and services, enhance its capabilities with the addition of electrogenic transporters, and perfect its human stem cell-derived heart cell services. Cleveland, Ohio-based Analiza, Inc. will collaborate, providing analytical chemistry support to ChanTest. The awards are contingent upon approval from the State Controlling Board, expected by the end of June.

"Ohio's biotech cluster has expanded significantly over the past decade, and ChanTest has been a vital contributor to our state's success, exemplifying the economic reach of the Ohio Third Frontier," said Ohio Lieutenant Governor Lee Fisher. "An innovator in drug safety, ChanTest has demonstrated robust growth, becoming a leader in contract research and employing more than 70 highly skilled people who are globally recognized for their distinct knowledge base."

"We are extremely grateful to the state of Ohio for this award," said ChanTest Chief Executive Officer, Dr. Arthur (Buzz) Brown, M.D. Ph.D. "An Ohio Third Frontier grant in 2006 was integral to our development of the world's most comprehensive ion channel library, which now covers half of the known drugable genome. This new funding will help us develop additional drug discovery and development research services, ion
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