NEN Acquires Receptor Biology

<%=company1%> Inc. (Boston) has acquired Receptor Biology Inc. (Beltsville, MD), a six-year old company specializing in cloned receptor membrane reagents, cell lines containing cloned receptors, and culture services used by pharmaceutical and biotechnology companies for drug discovery and HTS (high-throughput screening). As a result of this acquisition, NEN has assembled all the elements for developing and conducting a G protein-coupled receptor drug discovery with either conventional radiometric or the fluorescence polarization platforms.

According to Gerald Moss, NEN vice president of high throughput screening, "This very complementary acquisition offers NEN the opportunity to enhance our position as a leading supplier of products and services for high-throughput screening and drug discovery, especially in the GPCR target area. This segment of drug discovery is and will remain an important focal point for our customers; 60% of drugs today interact with a GPCR target, testimony to the importance of GPCR's in drug discovery."

Receptor Biology founder Jesse Baumgold will remain as general manager. He said, "We have been looking for a way to expand our product line and develop a broader range of products. By combining forces with NEN, we will have immediate opportunities to do that, as well as to improve our assay development services, use our receptors with NEN FlashPlate assays, and develop products for NEN's revolutionary [FP]2 fluorescence polarization assays for GPCRs. We are delighted at the prospect of working with NEN."

Receptor Biology, which will become a wholly owned subsidiary of NEN, will remain in Beltsville. In addition to new initiatives, the company will continue to supply customers with high-quality receptors and related targets for high-throughput screening. Receptor Biology currently has 47 cloned GPCR products in stock and an additional 14 in the development pipeline. NEN will begin offering a full line of integrated product and service packages for GPCR assays in the second half of 2000.

NEN Life Science Products provides labeling and detection products, services and technologies for life science research, drug discovery, and genomics applications. A privately held company with over 500 employees worldwide, NEN has facilities in Boston and Billerica, MA (USA); Brussels (Belgium); and Montreal, Quebec (Canada).

For more information: NEN Life Science Products Inc., 549 Albany St., Boston, MA 02118. Tel: 800-551-2121 or 617-482-9595. Fax: 617-482-1380. In Europe, call +32-2-717-7924 or fax +32-2-717-7910.

Edited by Laura DeFrancesco