August 10, 2004 - Research Triangle Park, NC.
Norak Biosciences, Inc. announced today that Lundbeck A/S has exercised its option to screen another of its G protein-coupled receptor (GPCR) targets of interest using Norak's TransfluorŽ technology. The option was part of the screening collaboration agreement signed December 19, 2002 between Norak and Lundbeck. Under the terms of the agreement Norak will develop a Transfluor cell line expressing the GPCR target of interest to Lundbeck and then screen this cell line at Norak on its high throughput imaging systems against a compound library of Lundbeck's choice. Financial terms were not disclosed.
Norak's TransfluorŽ technology is a patented, universal GPCR drug discovery technology designed to be the most direct and accurate method for screening potential drug candidates against GPCR targets, whether known or orphan. TransfluorŽ was licensed in 1999 by Norak from technology developed at Duke University Medical Center and represents the combined research into GPCR signaling pathways over several decades by Norak's scientific founders, Drs. Marc Caron, Robert Lefkowitz, and Larry Barak.
About Norak:
Norak Biosciences, Inc., headquartered in Research Triangle Park, NC, is a private biotechnology company. Norak is utilizing its proprietary TransfluorŽ technology to become a worldwide leader in the discovery and development of drugs that regulate G protein-coupled receptors. For more information about Norak Biosciences, Inc., please visit the Company's website at http://www.norakbio.com .
Terry E. Willard
Executive Vice President
Norak Biosciences, Inc.
7030 Kit Creek Road
Morrisville, NC 27560
Phone: 919 248 8000 x8804
Fax: 919 248 8033
twillard@norakbio.com
www.norakbio.com
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