Icagen Consolidates Operations at RTP Facility

RESEARCH TRIANGLE PARK, N.C., Sept. 30, 2015 /PRNewswire/ -- Icagen, Inc., a leading provider of services and expertise for ion channel and transporter drug discovery and development, today announced that the Company is consolidating its research operations and relocating corporate headquarters to its facility in the Research Triangle Park (RTP) area of North Carolina. The Company expects to complete the move by the end of December 2015.

"In our ongoing efforts to provide the highest quality services to Icagen's customers, we are bringing together all of our research operations and scientific expertise at our facility in RTP. This allows us to consolidate the wide array of technologies and capabilities that we have to offer, including our XRpro platform, under one roof," said Richie Cunningham, Icagen President and Chief Executive Officer. "The re-emergence of Icagen has been very well received by the biopharma community to date, and we are already engaged in a number of active research programs including our ongoing collaboration with Pfizer.  This move is expected to further enhance our ability to help our customers advance their drug discovery programs in the most efficient manner possible."

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 our company, please visit our website at 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 the expected benefits and timing of the consolidation and the Company's growing toolbox. 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 consolidate the research operations and headquarters 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.

Contacts:

For Investors: 
Daniel Boutcher, [email protected], Ph: (212) 406-9012, Cell: (973) 332-0120

For Media: 
Joan Kureczka, [email protected], Ph: 415-821-2413 
Nicole Litchfield, [email protected], Ph: 415-793-6468

SOURCE Icagen, Inc.

Related Links

http://www.icagen.com