Compendia Bioscience Announces the Receipt of a $2.4M SBIR Award and Related Management Changes

Oct 11, 2007, 01:00 ET from Compendia Bioscience, Inc.

    ANN ARBOR, Mich., Oct. 11 /PRNewswire/ -- Compendia Bioscience, Inc.
 today announced the receipt of a $2.4 million SBIR Fast Track Award from
 the National Cancer Institute to support the project entitled "Development
 of Oncomine Professional as a Platform for Biopharmaceutical Research and
     (Logo: )
     Compendia co-founder Dan Rhodes Ph.D., who will serve as the principal
 investigator for this project, will assume a full time position at
 Compendia Bioscience as Chief Executive Officer. Current CEO John Freshley
 will remain with the company as Chief Business Officer overseeing sales,
 marketing and corporate development.
     "We are thrilled with this award from the NCI and are looking forward
 to executing the project, which we expect will lead to increased
 applicability of Oncomine Professional to drug discovery and development,"
 said Dr. Rhodes. "And on a personal level, I am excited to have the
 opportunity to increase my level of commitment to Compendia."
     "Compendia was founded in 2006 to extend Oncomine the commercial
 sector. Over the past year we have seen ever increasing acceptance of
 Oncomine in the biopharmaceutical arena, and with that growing sales,
 marketing, and business development demands," commented John Freshley. "I
 am looking forward to concentrating on the continued commercial adaptation
 of this important product."
     Oncomine, a dynamic system that combines a rapidly growing compendium
 of 20,000+ cancer transcriptome profiles with a sophisticated analysis
 engine and a powerful web application for data mining and visualization,
 facilitates rapid and reliable biomarker and therapeutic target discovery,
 validation, and prioritization.
     The NIH Fast-Track application process expedites award decisions and
 funding of SBIR Phase II applications for scientifically meritorious
 projects that have a high potential for commercialization. The Fast-Track
 process allows Phase I and II grant applications to be submitted and
 reviewed together.
     About Compendia Bioscience, Inc. Compendia Bioscience is dedicated to
 harnessing the global collection of high throughput molecular data to
 provide researchers with the data and analysis tools necessary to validate
 biomarker and gene target discoveries, better understand mechanisms of
 disease, and optimize clinical outcomes."

SOURCE Compendia Bioscience, Inc.