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Molecular Profiling Institute, Inc. acquires NanoBiomics, Inc.

The Molecular Profiling Institute, Inc. (Molecular Profiling) today announced the acquisition of the assets of NanoBiomics, Inc. NanoBiomics is an early-stage company whose mission is to develop and commercialize genomic-based diagnostics utilizing nanoscale-processing technologies created at the Applied Nanobioscience Center at ASU. Nanobiomics was recently recognized as the "Startup Biotechnology Company of the Year" from the Arizona BioIndustry Association at the Arizona Bio Expo 2005.

NanoBiomics was formed by the Translational Genomics Research Institute (TGen) and Arizona Technology Enterprises (AzTE) with the intention to commercialize technology from both organizations. Molecular Profiling, a collaboration between TGen and the International Genomics Consortium (IGC), is a specialty reference laboratory and a leader in using genetic signatures to help tailor medical therapy. Molecular Profiling is the first for-profit spin-off venture for TGen and IGC.

"The acquisition provides Molecular Profiling with a platform for commercializing novel, genomic-based diagnostic products in the future," said Richard Love, acting president of NanoBiomics and Managing Director of TGen Accelerators. "Molecular Profiling is currently driving physician adoption of such tests in the reference lab setting. As these tests are accepted into the practice of medicine, NanoBiomics' technologies will help enable lower cost diagnostic products to be produced and commercialized more broadly."

Molecular Profiling will work closely with Dr. Frederic Zenhausern, Director of the Applied Nanobioscience Center at ASU's Biodesign Institute. "Dr. Zenhausern is a pioneer in using nanoscale processing technologies to perform complex biological processes on cartridges the size of credit cards," said Dr. Robert Penny, CEO of Molecular Profiling. "These technologies will ultimately drive down the cost of genomic-based diagnostic testing and this transactions will provide a co
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Contact: Galen Perry
gperry@tgen.org
602-343-8423
The Translational Genomics Research Institute
30-Jun-2005


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