10/16/2009 - DiscoveryBioMed, Inc. Formalizes Contract Activities with the University of Alabama at Birmingham

DiscoveryBioMed, Inc. and the UAB Research Foundation Announce an Umbrella Agreement to Govern DBM-UAB Client Interactions for Cell Engineering and Drug Discovery

DiscoveryBioMed, Inc., a UAB Spinoff Company, Partners with UAB Investigators to Allow Them Access to Custom Cell Engineering, Drug Discovery Assay Optimization, Lead Compound Safety/Toxicity/Efficacy Testing and Full-Fledged Drug Discovery Programs

Birmingham, AL – DiscoveryBioMed, Inc. (DBM) and the University of Alabama at Birmingham Research Foundation (UABRF) are pleased to announce that they have established a Memorandum of Understanding agreement that governs all interactions between DBM and UAB.

“This agreement solidifies a major part of DiscoveryBioMed’s business model. DBM was founded in part to offer access to cell engineering and drug discovery technology for a reasonable price. DBM has a talented and energetic team that wants to get cell-based drug discovery moving” said DBM’s CEO Dr. Erik Schwiebert.

The agreement facilitates the structuring and execution of each contract between DBM and UAB. In some cases, DBM performs work as a “fee for service” and the UABRF and UAB investigators are free to take the custom cell line engineered or hit-to-lead compounds discovered forward. “This is by design in these cases to allow investigators to spin out their own company,” explains Dr. Schwiebert. In other cases, however, DBM and UAB clients have equal claim to the findings and are partnered in a research collaboration over time to develop a larger program. “DBM has already completed a handful of fee for service contracts and the results were solid.” Dr. Schwiebert explains. “We are engaged in another series of contracts for drug discovery where we are working on a larger program in calculated steps going forward.”

An oversight committee meets bi-annually to govern these mutually beneficial activities. Hopefully, these efforts will compliment the already established drug discovery initiatives and infrastructure between UAB and Southern Research Institute, named recently as the Alabama Drug Discovery Alliance. “We stand ready to help UAB, SRI and the newly established ADDA in any way we can as necessary. We are an important compliment in the commercial space to what already exists in Birmingham in particular and across Alabama as a whole.” DBM currently has over 15 client projects at various stages of progress established with UAB.

DiscoveryBioMed, Inc. and its team are also interested in helping academic entrepreneurs realize a new life sciences and biotechnology company. We are already helping multiple entrepreneurs and companies in the early formative stages navigate the steps from idea to formation.

About DiscoveryBioMed, Inc.

DiscoveryBioMed, Inc. is a life sciences and biotechnology company that engages in R&D and services work in cell engineering and production and cell-based drug discovery. The company is located within Innovation Depot in Birmingham. Using physiologically relevant cell culture models preferably derived from normal and diseased adult human cells and tissues, it focuses on finding therapeutic compounds for a variety of human diseases. It also applies this custom human cell-based approach to its “fee-for-service” support to researchers in allied areas and currently serves clients and partners both locally in Alabama as well as in 11 other states in the US currently. For more information, visit the DBM website at www.discoverybiomed.com.

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