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MDS to Collaborate with Zyomyx on Protein Studies, Takes Equity Stake

NEW YORK, Dec 18 – Zyomyx and MDS Proteomics said Monday they had agreed to jointly study protein pathways as part of an effort to improve cell research.

Under the terms of the deal, Zyomyx will contribute its protein chip technology and MDS will contribute its protein pathway identification and analysis experience to prove the efficacy of using protein biochips in mass spectrometry-based proteomic studies.

In addition, the companies announced that MDS has acquired a $2.5 million equity stake in Zyomyx,   as part of a Series-D financing round. The companies did not disclose the size of the stake MDS acquired. MDS said it would also provide money for Zyomyx’s research and development.

Zymoyx’s protein biochip technology is used to develop high-density arrays of functional proteins. The biochips are designed to measure protein abundance, structure, and activity as well as to analyze protein pathways.

“This alliance is part of our effort to build a platform to identify key protein pathways, which will allow us to better understand the role proteins play in disease,” Frank Gleeson, MDS president and CEO, said in a statement.

“We expect this combination of technologies and expertise to broaden the technological base from which we and our partners hope to ultimately develop new therapeutics and diagnostic products," he added.

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