News: Portfolio 2008

CELLUMEN’S 2008 COLLABORATIONS VALIDATE NEW APPROACH TO IMPROVE DRUG SAFETY AND DEVELOPMENT

Proprietary Cellular Systems Biology Approach to Early Identification of Toxic Compounds Attracts Leading Pharmaceutical and Agency Partners

Pittsburgh, PA, October 14, 2008 - Drug safety has never been a more critical, high-profile or costly issue for healthcare, but now both pharmaceutical companies and consumers can rest assured that the industry is sanctioning a new and more accurate approach to toxicity testing for drug compounds. Cellumen, Inc., a discovery toxicology company, is now in collaboration with several leading global organizations such as Eli Lilly and Company, Mitsubishi Tanabe Pharma Corporation, the EPA, and the FDA, to apply its innovative and proven CellCiphr® Discovery Toxicology profiling services to the early identification of toxic compounds with unprecedented precision.

 

Since receiving financing of $8.7 million in July 2007 from Safeguard Scientifics, Inc. (NYSE: SFE),