XRpro Sciences Completes Name Change to Icagen, Inc. Following Acquisition of Pfizer Ion Channel Platform Assets
CAMBRIDGE, Mass., Sept. 22, 2015 /PRNewswire/ -- Icagen, Inc., a global provider of drug discovery and development services, today announced that it has completed a company name change from XRpro Sciences, Inc. to Icagen, Inc. The Icagen brand was originally re-launched on July 2, 2015 through XRpro Science's acquisition of assets related to the ion channel biology platform from Pfizer Inc. (NYSE: PFE) that had previously been obtained as part of Pfizer's 2011 acquisition of the then publicly traded company, Icagen, Inc.
Icagen services focus on ion channel and transporter drug discovery and development, harnessing its industry leading scientific expertise and extensive portfolio of assays, cell lines and technologies including its proprietary, XRpro® label free technology.
"The full integration of the acquired technology and staff into our existing operations is progressing extremely smoothly," says Richie Cunningham, Chief Executive Officer of the new Icagen, Inc. "We are fully operational at both our Cambridge, MA and Research Triangle Park, NC facilities and have already begun collaborations with several pharmaceutical companies."
"The re-launch of Icagen has been met with favorable interest from the pharmaceutical and biotech research community," says Douglas Krafte, Ph.D., Chief Scientific Officer of the new Icagen, Inc. "We believe companies are recognizing the experience we bring to the table and that working with Icagen could improve the efficiency and quality of their ion channel and transporter small molecule pipelines."
Icagen also noted the launch of the company's new website, which provides additional information on the company, its technology, and services, at http://www.icagen.com.
About Icagen, Inc.
Icagen partners with pharmaceutical and biotechnology companies to offer industry-leading scientific expertise and comprehensive access to technologies for ion channel and transporter drug discovery and development. With over 20 years of leadership in the ion channel field, the Icagen team offers an extensive track record of success in advancing molecules from drug discovery to clinical development across multiple therapeutic areas and ion channel classes. Icagen's growing tool box comprises a broad range of cell lines and technologies for ion channel and transporter research, capped by the label-free XRpro® platform. XRpro® technology, based on X-ray fluorescence, is a novel method that enables high throughput assessment of ion channels and transporters, including challenging systems with high therapeutic interest. For more information on Icagen, please visit our website at http://www.icagen.com.
This release includes forward-looking statements on the Company's current expectations and projections about future events. In some cases forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions. These statements are based upon current beliefs, expectations and assumptions and are subject to a number of risks and uncertainties, many of which are difficult to predict and include statements regarding our belief that companies are recognizing our experience and that working with us could improve efficiency and quality of their ion channel and transporter small molecule pipeline and our growing tool box The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from those reflected in the Company's forward-looking statements include, among others, our ability to successfully combine the acquired assets and the Icagen team with the prior XRpro team and technology and the other factors described in the Company's Report on Form 10-K for the year ended December 31, 2014 and any other filings with the SEC. The information in this release is provided only as of the date of this release, and the Company undertakes no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.
Daniel Boutcher, firstname.lastname@example.org, Ph: (212) 406-9012, Cell: (973) 332-0120
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SOURCE Icagen, Inc.
Released September 22, 2015