GAITHERSBURG, Md., May 7 /PRNewswire/ -- Panacea Pharmaceuticals, Inc.
announced today that it has entered into a Collaborative Research Agreement
with Olympus Optical Co., Ltd. in Tokyo, Japan (http://www.olympus.co.jp) to develop
an array of assays utilizing Olympus' newly launched MF20 system for the
analysis of biomolecular interactions. Olympus launched the MF20 in Japan in
September 2002 and will be making it available to overseas markets by the end
of 2003. The MF20 system was developed jointly with Evotec Technologies GmbH
in Hamburg, Germany.
The agreement was brokered by the Cosmos Alliance
(http://www.cosmosalliance.com), 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.
"We will be utilizing the capabilities of the MF20 system across our
entire research and methods development efforts," stated Steve Roberts, Ph.D.,
Senior Scientist for Methods Development and Project Manager for the MF20
collaboration. "Initial testing has already demonstrated that the MF20 has a
wide range of applications as both a tool and an enabling element in our drug
discovery efforts."
Background on MF20 System
Following the elucidation of the broad outline of the human genome, the
focus of genomic research has switched to the analysis of protein function,
dubbed proteomics. Many researchers in the field are now actively searching
for ligands and other substances that interact with proteins. There has
therefore been a strong demand for equipment that can facilitate the analysis
of biomolecular function under conditions close to those that exist in the
human body.
The MF20 employs a technique known as single molecular fluorescence
spectroscopy that does not require sample to be in a solid phase. Instead,
interactions between biological molecules can be studied directly in buffer
solution. High-speed analysis yields data on functional biomolecular
interactions and binding within a short period of time ranging from a few
seconds to less than a minute, allowing applications ranging from high-
throughput analysis to complex studies of molecular interaction. A combination
of confocal laser optical system with a high-sensitivity fluorescence
detection device permits measurements in an extremely small volume of around
one femtoliter, thereby capturing any interactions at the level of single
molecules. This set-up operates at low noise and detects fluorescent signals
with extremely high sensitivity. The MF20 system can simultaneously measure
and distinguish between the fluorescent signals of both bound and free
molecules in a solution composed of both types. The time-consuming yet vital
sample preparation and washing steps required with previous analytical methods
are thus rendered unnecessary. In addition, since measurements are performed
in solution, damage to the sample is minimal and artifacts from unspecific
surface interaction are avoided, allowing the same sample to be rapidly put
through other tests subsequently.
The MF20 system comes equipped with three standard analytical modes that
provide different methods for studying samples: FCS, FIMDA, and FxCS. FCS
(Fluorescence Correlation Spectroscopy) is a method for studying multiple
molecular parameters (such as translational diffusion time, which indicates
molecular size, or molecular concentrations) for various types of molecules
using analysis of fluorescent signals. FIMDA (Fluorescence brightness Multiple
Distribution Analysis) is a calculation method that measures, in addition to
translational diffusion time and molecular concentration, the fluorescence
brightness per molecule. FxCS (Fluorescence Cross-Correlation Spectroscopy) is
a calculation method that analyzes fluorescent signals from molecules labeled
with two different dyes to determine whether molecules are moving individually
or bound together. This permits highly sensitive analysis of molecular
interactions, which is particularly useful with types of analysis that were
previously difficult to undertake, such as that of interactions between
molecules of similar weight.
These permit the analysis of various molecular parameters, including size,
concentration, fluorescence brightness, and the respective amounts of
different molecules present. The system can also be applied to various types
of analysis that were previously difficult to undertake, such as that of
interactions between molecules of similar weight or simultaneous measurements
at two different wavelengths. The system promises to make a significant
contribution to the detailed elucidation of biological phenomena, thereby
playing an important role in genome-based drug discovery.
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: Kasra Ghanbari, President of Panacea Pharmaceuticals, Inc.,
+1-240-243-8000, ext. 108, Fax: +1-240-465-0450, Kasra@PanaceaPharma.com.
SOURCE Panacea Pharmaceuticals, Inc.
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Related links:
http://www.panaceapharma.com
http://www.olympus.co.jp http://www.cosmosalliance.com
CONTACT:
Kasra Ghanbari, President of Panacea
Pharmaceuticals, Inc., +1-240-243-8000, ext. 108, Fax:
+1-240-465-0450, Kasra@PanaceaPharma.com
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