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For Immediate Release, August 17, 2000 Integrative
Proteomics, Inc. Toronto, Canada - August 17, 2000 - Integrative Proteomics, Inc., ("IPI") is pleased to announce the completion of an initial US$8 million equity financing. A broad range of investors in the United States, Europe and Canada participated in the financing, including the Lombard Odier Immunology Fund and CC Capital Partners Inc. IPI was created as a result of a merger between Chalon Biotech Inc. and Borealis Biosciences Inc. The Company is a leader in the emerging post-genomics field of proteomics and is pioneering innovative technologies that will enable drug companies to bridge the gap between genomics and drug discovery. The company is also a leader in the production of purified proteins and the detection of protein-protein interaction. IPI was founded by leading experts in proteomics at the University of Toronto's Banting and Best Department of Medical Research and the Ontario Cancer Institute, the research arm of Princess Margaret Hospital. The founding scientists include Dr. Aled Edwards, Dr. James Friesen and Dr. Jack Greenblatt of the University of Toronto, Dr. Cheryl Arrowsmith of the University Health Network and Dr. Mark Gerstein of Yale University. IPI has developed technology platforms for high throughput protein expression and purification, protein-protein interaction and three-dimensional structural determination. In addition, IPI is developing a proprietary relational proteomics database of protein structure and function that will be mined using computational knowledge discovery tools. "This financing will allow Integrative Proteomics to expand beyond the narrow fields of structural genomics and protein-protein interactions, to be the leader in the next frontier of proteomics in which structure, function and bioinformatics are integrated to bridge the entire gap between genomics and drug discovery." Dr. Aled Edwards, CEO of IPI said. "Proteomics has the potential to eclipse the size of the entire genomics market and we intend to leverage our proprietary technological advantage to become the dominant proteomics company in this market," he added. CC Capital Partners Inc. is a Toronto-based merchant banking group; the Ontario Cancer Institute is the research arm of the Princess Margaret Hospital also located in Toronto; the Lombard Odier Immunology Fund is one of the major life sciences funds worldwide, with over US$2 billion under management. For more information, please contact: Integrative
Proteomics, Inc. Contact:
Dr. Joanne E. Harack
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