Frost & Sullivan Recognises DiscoveRx with Product Line Strategy Award
Release date: 9/10/2008
September 10, 2008 - U.S-based DiscoveRx is the recipient of the 2008 European Cell-Based Assays Product Line Strategy Award. DiscoveRx, a leader in G protein-coupled receptors (GPCRs) is recognised for its broad, yet distinctive, portfolio of cell-based assay products that have received outstanding recognition from leading life science organisations.
"DiscoveRx is acknowledged as one of the most active participants in the functional assay market as reflected in the company's continuous efforts in technology innovation such as the PathHunter® Arrestin technology and the HitHunter® cAMP Assay; GPCR assay platform, helping to accelerate the discovery of new drug candidates," notes Frost 7 Sullivan Research Analyst Laleh Safinia. "Having an expanding pipeline of highly promising products, combined with top-quality management and sales, DiscoveRx continues to improve its standing in the functional assay area, influencing the direction of drug discovery."
Founded in 2000, DiscoveRx has pioneered the use of beta-galactosidase enzyme fragment complementation in biochemical and cell-based assays for drug discovery research, holding extensive intellectual property in this area. The company is devoted to the development and commercialisation of functional assays to study GPCRs, kinases and other major drug target classes, with many of their innovative products adopted in pharmaceutical and biotech drug screening laboratories globally.
"To meet the growing demand of functional assays during screening, in 2007, DiscoveRx announced the growing list of GPCRs representing 32 ligand families based on the PathHunter® Arrestin technology, which measures GPCR activation without the need for target over expression, force coupling, imaging or second messenger detection," remarks Safinia. "With PathHutner® Flash Detection kit, DiscoveRx also launched a 30 second assay for Beta-Arrestin based screening, permitting screens of up to 1,000,000 compounds in 48 hours."
In May 2006, GE Healthcare signed an exclusive distribution agreement for DiscoveRx HitHunter® cAMP Assays, which are homogeneous cell based assays used to screen for GPCR activation in a microplate based format, designed for high throughput, non-radioactive screening for compounds in drug discovery. Adding the DiscoveRx portfolio has enabled GE Heathcare to offer more comprehensive screening technologies to its customers.
"Such activities further reinforce the fact that DiscoveRx is actively seeking to commercialise and provide early access to new technology platforms in the drug discovery market," states Safinia. "Frost and Sullivan salutes the product line enhancement stragies adopted by the firm and strongly believes that DiscoveRx will continue to enhance its standing in the functional assay area."
The Frost & Sullivian Award for Product Line Strategy is presented each year to a company that has demonstrated the most insight into customer needs and product demands. The recipient company should have optimised its product line by leveraging products with the various price, performance, and feature points required by the market.
Frost & Sullivan Best Practices Awards recognise companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, anlysis, and extensive secondary research in order to identify best practices in the industry.
About DiscoveRx Corporation
Founded in 2000, DiscoveRx is a privately held, venture-backed company headquartered in Fremont, California, with an additional office in Birmingham, England. The Company pioneered the use of β-galactosidase enzyme fragment complementation in biochemical and cell based assays for discovery research, and holds extensive intellectual property in this area. DiscoveRx is dedicated to the development and commercialization of innovative solutions to study GPCRs, Kinases and other major drug target classes, and many of their innovative products have been widely adopted in pharmaceutical and biotech drug screening laboratories worldwide. Please visit www.discoverx.com to get additional information regarding DiscoveRx products. For more information regarding this press release and for other collaborative opportunities, please contact Sailaja Kuchibhatla, Sr. Vice President, Business Development.
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