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Expression Pathology Gets $6.5M Investment from Abraxis

NEW YORK (GenomeWeb News) – Expression Pathology, a Gaithersburg, Md.-based developer of technology for analyzing protein biomarkers in tissue, has received $6.5 million in financing from biopharmaceutical firm Abraxis BioScience.

Expression Pathology said that the funds would be used to apply its Liquid Tissue proteomics technology to the development of personalized medicine assays for measuring protein biomarkers of drug response and disease prognosis to specific patient treatment decisions.

"We believe the ability of our technology to interrogate archived tissue collections to discover and validate protein biomarkers that relate to disease progression, drug response and toxicity, and to measure those biomarkers accurately in standard tissue from clinical trials and medical care, will translate into a tremendously valuable asset," Casey Eitner, president and CEO of Expression Pathology, said in a statement.

Expression Pathology did not disclose how much of an equity stake Abraxis holds in the firm.