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NEWS FOR IMMEDIATE RELEASE

Date: August 7, 2001

 

DISCOVERY GENOMICS ANNOUNCES INVESTMENT, RESEARCH AND LICENSE AGREEMENTS WITH TECHNE

 

Discovery Genomics Inc. announced today that it has entered into a research and license agreement and received an equity investment of $3 million from Techne Corporation of Minneapolis, Minnesota. Discovery Genomics was recently organized and holds exclusive licenses from the University of Minnesota to develop technologies related to “knock-downs” in Zebrafish using a proprietary Morphant® technology and to the use of the Sleeping Beauty Transposon™. Both technologies may be used for functional genomics and the discovery of drug targets. Additionally, the transposon may have applications in gene therapy. Morphant® “knock-downs” are used to suppress and thereby study the functions of particular genes. The Zebrafish model system is a much faster and less expensive approach to gene discovery than other vertebrate model systems.

Discovery Genomics is an early stage functional genomics company created to rapidly discover gene functions, conduct drug target validations, and design therapeutic agents based on genomics information. Perry Hackett, Ph.D., is the company’s Chief Science Officer and John Haaland is the President and Chief Executive Officer.

 

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