News: Portfolio 2005

PA Early Stage Makes Series A Investment in Cellumen

Company focused on Cell-Based Drug Discovery and non-coding RNA

Pittsburgh, PA - June 20, 2005 - PA Early Stage Partners, a family of venture funds that makes investments in early stage life sciences and technology companies, announced today that it has made a Series A investment in Cellumen, a systems cell biology company focused on measuring and manipulating proteins and coding and non-coding RNA in cells. The Pittsburgh (PA) - based company was founded by D. Lansing Taylor, Ph.D., who previously launched successful biotech companies - Biological Detection Systems, Inc. (BDS) and Cellomics, Inc.

 

"Cellumen is in an exciting position to be the leader in applying advanced high content screening to the early drug discovery process," stated Paul Schmitt, Managing Director of PA Early Stage. "The expertise of the founders coupled with the new technologies being applied in the reagent and cell arena promises to have a major impact on drug discovery."