GAITHERSBURG, Md., Feb. 26 /PRNewswire/ -- Panacea Pharmaceuticals, Inc.
announced today the opening of its new facility in Gaithersburg, Maryland as
well as the launch of its new website, which can be found at
http://www.PanaceaPharma.com .
Panacea is a recent graduate of the Maryland Technology Development Center
(MTDC), a business incubator located in Rockville, Maryland. The MTDC is a
project initiated and managed by the Montgomery County Department of Economic
Development. It was developed, financed, and constructed as a joint
partnership between Montgomery County and the State of Maryland.
"Panacea represents the model incubator success story," said Montgomery
County Executive Douglas M. Duncan. "As a start-up biotech company, Panacea
was able to take advantage and benefit from the availability of the Maryland
Technology Development Center and its programs, focus on and grow their
business, and then secure commercial space within the county. This clearly
demonstrates how our programs foster the growth of companies that bring high-
quality, high-paying jobs to the county."
Panacea held an Opening Ceremony event on January 28th attended by members
of the county, state, and national government, foreign dignitaries from Japan,
Korea, and New Zealand, executives from leading bio life science companies,
and other leaders. The ceremony also celebrated the official launch of the
Cosmos Alliance, a new global membership club established to advance the bio
life sciences through the formation of strategic direct investment and
research collaboration opportunities among its members. Panacea was one of
four technology members that recently received a portion of $6.5 million in
investments from four of the Cosmos Alliance's corporate members.
The keynote address was given by Takeru Ishibashi, CEO, Chemicals Group,
Mitsubishi Corporation, a Cosmos Alliance corporate member. "To my eyes,
Panacea is one of the most eligible emerging biotech companies in the U.S.,"
said Mr. Ishibashi. He continued, "They have good science invented at Brown
University and MIT ... good management in their step-by-step approach ...
Panacea's business model has proven to be successful and they continue to find
the right partners to commercialize their technologies."
The company also recently launched a new corporate website, found at
http://www.PanaceaPharma.com . Site visitors can learn about the company's
history, management, partnerships, and latest news. Interactive flash-animated
presentations provide simple yet detailed overviews of the company's HAAH
Oncology, Parkinson's disease, and Alzheimer's disease programs. The media and
investor sections give access to downloadable up-to-date corporate
information.
The web site design, interactive features, and content management system
were provided by Estco Medical of Bethesda, Maryland, the creator of the Web-
based Medigent software suite, which aids life science companies in launching
and managing online marketing initiatives.
Panacea chose Estco and its Medigent software suite because it wanted to
provide online information on the work it is developing while integrating the
web site with its marketing initiatives. Because the software suite's
capabilities are built around the three principle phases of communication,
education, and validation, it easily adapts to and exploits new technologies
and provides new modes of communication for Panacea. For more information,
visit http://www.estcomedical.com .
About The Cosmos Alliance
The Cosmos Alliance is a new global membership club established to advance
the bio life sciences through the formation of strategic direct investment and
research collaboration opportunities among its members. Under the Alliance,
research-intensive early stage and emerging companies with breakthrough
platform technologies are encouraged to form alliances with well-established
companies seeking to move into new fields as well as to harvest returns from
equity investments. Research and development-stage company members join the
Alliance to receive research contracts from companies interested in their
technology. Finally, universities and other research organization members
join the Alliance to present their breakthrough research and technology to
Alliance members and to form valuable strategic partnerships. For more
information on the Alliance, visit http://www.cosmosalliance.com .
About Panacea Pharmaceuticals, Inc.
Panacea Pharmaceuticals, Inc. is an emerging biopharmaceutical company
focused on utilizing functional genomics and proteomics to develop
therapeutics and diagnostics for diseases with substantial unmet clinical
need. The company's product development focus is on novel proteins and
biochemical pathways related to cellular regulation and cell cycle
abnormalities in oncology as well as neurodegenerative diseases, particularly
Alzheimer's disease and Parkinson's disease.
More information is available at http://www.PanaceaPharma.com .
Except for historical information presented in this press release, matters
discussed herein may constitute "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. Forward-
looking statements are based on the opinions and estimates of management only
as of the date of this release and are subject to certain risks and
uncertainties that could cause actual results to differ materially from any
future results, performance, or achievements expressed or implied by such
statements. Factors that might cause such a difference include, but are not
limited to, uncertainties related to our access to capital, the progress,
costs, and results of any clinical trials undertaken by us, progress of our
research and development projects, and uncertainties related to whether our
product candidates would ultimately achieve commercial success. We do not
undertake any obligation to update publicly any forward-looking statement,
whether as a result of new information, future events, or otherwise unless
required by law.
Contact:
Panacea Pharmaceuticals, Inc.
Kasra Ghanbari, President
207 Perry Parkway, Suite 2
Gaithersburg, MD 20877
Phone 240-243-8000 x108
SOURCE Panacea Pharmaceuticals, Inc.
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Related links:
http://www.PanaceaPharma.com
http://www.cosmosalliance.com http://www.estcomedical.com
CONTACT:
Kasra Ghanbari, President, of Panacea
Pharmaceuticals, Inc., +1-240-243-8000 ext. 108
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