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Proteome Sciences

Proteome Sciences had sued Sanofi-Aventis for breach of contract and statutory obligations in connection to a sales and transfer agreement which concerned a share and a limited partnership interest in Xzillion Proteomics.

Proteome Sciences plans to market the workflows as a discovery service performed out of its ISO-certified Frankfurt laboratory and will also use them to develop proprietary biomarker panels that it will commercialize for research and, eventually, clinical use.

The collaboration will combine Proteome Sciences' isobaric mass tagging reagents with Thermo Fisher's mass spectrometry systems.

The assays use multiple-reaction-monitoring mass spectrometry to measure the level of proteins associated with the disease and could be useful as diagnostic tests or research tools, said a company official.

The company said that the placing was intended to raise money for capital investment in equipment for its PS Biomarker Services division and to finance the further development of tandem mass tag-SRM mass spectrometry assays for its proprietary biomarkers.

The placing and an open offer could raise up to £6.9 million which would be used to see the company through to breakeven/profitability.

The firm claims the test can detect cancers as much as five years earlier than current testing methods.

The license agreement covers sales of the ProteoPrep kit line in Europe, Japan, and Australia.

Under the deal, Sigma-Aldrich will continue selling products using the ProteoPrep name in Europe, Japan, and Australia.

Parexel will offer the PS Biomarker Services to biopharma firms seeking biomarkers to assess new compounds.

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