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Mountain View, California (September 30, 2002) - SurroMed, Inc. today
announced that it has entered into a service agreement with PPD Discovery,
the drug discovery technology subsidiary of PPD, Inc. (Nasdaq: PPDI). Under
the terms of the agreement, Menlo Park, Calif.-based PPD Discovery will
provide tumor samples for analysis at SurroMed’s Biomarker Discovery
Laboratory. Financial terms of the agreement were not disclosed.
SurroMed will analyze the tumor samples using its proprietary integrated
mass spectrometry-based platform for proteomic and small organic molecule
analysis in order to obtain detailed information concerning the biological
makeup of each tumor type. SurroMed will use this data to show the association
between certain cell surface proteins identified by PPD Discovery with
particular tumor types, which also provides PPD Discovery an ongoing means of
demonstrating the functional relevance of its cell surface proteins for tumor
growth.
Upon analysis of the data, preferred cell surface proteins will be selected
for further study in preclinical in vitro and in vivo models. PPD Discovery
will seek to partner its biologically validated cell surface proteins for the
development of therapeutic antibodies for prevention of tumor growth.
"We are delighted to have the opportunity to collaborate
with PPD Discovery." said Gordon Ringold, Ph.D., CEO and Chairman
of SurroMed. "Our quantitative differential protein and small organic
molecule profiling capabilities provide a unique combination of sensitivity,
throughput and reproducibility that enable rapid and effective biomarker
identification. We will use our capabilities to validate certain cancer
targets identified by PPD Discovery."
About SurroMed, Inc.
Headquartered in Mountain View, California, SurroMed is pioneering biomarker
enabled drug discovery and development. The Company focuses on discovering
and applying biomarkers to improve the drug discovery and development process
and enable the precise diagnosis and personalized treatment of disease.
SurroMed’s research process yields biological markers and information that
enable accelerated, cost-efficient discovery and development of new therapeutic
products, as well as development of diagnostic tests for early disease detection,
disease staging, patient stratification, and guiding and monitoring therapy.
Contacts:
SurroMed, Inc.
August J. Moretti
CFO and General Counsel
(650) 230-1961
email: [email protected]
Noonan/Russo Communications, Inc.
Ian R. McConnell
Senior Account Executive
415) 677-4455 ext. 233
email: [email protected]
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