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Anaphore Announces Acquisition of RuiYi in Shanghai China for GPCR Biologics Drug Discovery Platform
Date:3/22/2012

LA JOLLA, Calif., March 22, 2012 /PRNewswire/ -- Anaphore Inc. today announced that it has acquired Shanghai-based RuiYi Inc., bringing the company a powerful biologics drug discovery platform focused on the discovery and development of biologic therapies targeting G protein coupled receptors (GPCRs).  RuiYi was founded by Raymond Stevens, PhD., of The Scripps Research Institute (TSRI) and TSRI alumni Fei Xu, Ph.D. of Shanghai, China.

"The acquisition of RuiYi in China allows Anaphore to access the substantial scientific expertise, capital and potential new collaboration opportunities in the Chinese pharmaceutical marketplace," said Paul A. Grayson, president and CEO of Anaphore.  "RuiYi also provides Anaphore a Wholly Foreign-Owned Enterprise (WFOE) in Pudong Shanghai, a necessity for conducting business in China, and establishes relationships with all of RuiYi's current collaborators."

"I am very excited about the opportunity to work with Paul and his creative team at Anaphore," added Dr. Stevens.  "Anaphore's existing expertise in biologic drug development combined with RuiYi's knowledge in targeting GPCRs is an optimal alignment of talent, energy and resource to discover novel medicines to address human medical needs."

GPCRs are a class of cell surface signaling proteins that has broad tissue expression in the body and are ideal drug targets, constituting greater than 40 percent of marketed small molecule drugs. While much progress has been made over the years in the development of small molecule pharmaceuticals targeting GPCRs, development of biologic therapies have been much more limited. RuiYi's technology allows for the discovery of high quality GPCR biologics.

New Members of Anaphore Board of Directors

Anaphore is also announcing two new independent directors to its Board of Directors – Peppi Prasit and Raymond Stevens.  "We are delighted to bring both Peppi and Ray onto t
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SOURCE Anaphore Inc.
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