NEW YORK, July 23 - Commonwealth Biotechnologies has signed a letter-of-intent to partner with web and application infrastructure services company bayMountain to develop and commercialize genomic database analysis tools, the companies said Monday.
The terms of the agreement were not disclosed.
"This is an outstanding opportunity for us to partner with a company whose expertise is in hosting, managing, and analyzing very complex and data-intensive applications," Robert Harris, president of Commonwealth Biotechnologies, said in a statement. "By focusing on relatively small genomes, such as pathogenic bacteria, we see a rapid commercialization of new and powerful software. CBI's expertise is in doing the underlying science needed to create the data. BayMountain's expertise is in providing the skills and tools necessary to manage and mine that data."
"Genomics is a key area of growth for the DNA services at CBI," added Tom Reynolds, senior vice president at Commonwealth Biotechnologies. "CBI is in the midst of two government-funded genome projects and is bidding for several more. Having the ability to do the science and to manage the database which is created will make us all the more attractive in competing for these projects."
Both companies are based in Richmond, Virginia.