Morphotek Announces Their Commitment to Pennsylvania to Create New Jobs And Grow in the Southeastern Region

Apr 11, 2001, 01:00 ET from Morphotek Inc.

    PHILADELPHIA, April 11 /PRNewswire/ -- Morphotek Inc., a genomics-based
 biotechnology company, announced today that it is partnering with the
 Commonwealth of Pennsylvania to create new jobs in the Southeastern Region.
     "The Ridge Administration is committed to partnering with companies on
 projects that create good-paying high-tech jobs for Pennsylvania," said
 Community and Economic Development Secretary Sam McCullough.  "Morphotek's
 expansion is one more example of how Pennsylvania is a prime area for growth
 in the biotech industry."
     Morphotek was awarded a $100,000 opportunity grant from the Pennsylvania
 Department of Community and Economic Development (DCED) to help expand company
 operations and to support ongoing R&D programs using the company's proprietary
 gene evolving platform technology called morphogenics.  This project is
 expected to create multiple high-wage-paying jobs for the Southeastern Region.
     "We are pleased that after extensive review the DCED recognized
 Morphotek's growth potential for bringing additional value to Pennsylvania's
 technology community," said Nicholas C. Nicolaides, President and Chief
 Executive Officer.  "This award brings additional credibility to our company's
 business model and technology capabilities for generating substantial growth
 over the upcoming years."
     Philip M. Sass, Executive Vice President and Chief Operating Officer,
 commented, "These funds will facilitate continued development of our company's
 infrastructure and allow us to increase our scientific and administrative
 staff to support the ongoing R&D activities in our genetic evolution
 programs."
     Morphotek employs a patented platform technology called morphogenics that
 can enhance the natural process of genetic evolution within targeted host
 organisms.  It has been applied to a wide range of hosts including microbes,
 plants, and mammals to yield genetically diverse offspring for agricultural
 and pharmaceutical applications.  Morphogenic offspring are subsequently
 selected using Morphotek's proprietary screening assays to identify subtypes
 that exhibit commercially valuable output traits.  Morphogenics is
 complimentary to existing genomic platform technologies currently employed in
 the industry since it has the capacity to introduce global nucleotide
 alterations within commercially relevant host organisms yielding gene products
 with altered biochemical activity that can be directly screened for.  Selected
 hosts can be used for direct commercialization as well as genetically analyzed
 to identify variant genes that encode for a specific output trait.
 
 

SOURCE Morphotek Inc.
    PHILADELPHIA, April 11 /PRNewswire/ -- Morphotek Inc., a genomics-based
 biotechnology company, announced today that it is partnering with the
 Commonwealth of Pennsylvania to create new jobs in the Southeastern Region.
     "The Ridge Administration is committed to partnering with companies on
 projects that create good-paying high-tech jobs for Pennsylvania," said
 Community and Economic Development Secretary Sam McCullough.  "Morphotek's
 expansion is one more example of how Pennsylvania is a prime area for growth
 in the biotech industry."
     Morphotek was awarded a $100,000 opportunity grant from the Pennsylvania
 Department of Community and Economic Development (DCED) to help expand company
 operations and to support ongoing R&D programs using the company's proprietary
 gene evolving platform technology called morphogenics.  This project is
 expected to create multiple high-wage-paying jobs for the Southeastern Region.
     "We are pleased that after extensive review the DCED recognized
 Morphotek's growth potential for bringing additional value to Pennsylvania's
 technology community," said Nicholas C. Nicolaides, President and Chief
 Executive Officer.  "This award brings additional credibility to our company's
 business model and technology capabilities for generating substantial growth
 over the upcoming years."
     Philip M. Sass, Executive Vice President and Chief Operating Officer,
 commented, "These funds will facilitate continued development of our company's
 infrastructure and allow us to increase our scientific and administrative
 staff to support the ongoing R&D activities in our genetic evolution
 programs."
     Morphotek employs a patented platform technology called morphogenics that
 can enhance the natural process of genetic evolution within targeted host
 organisms.  It has been applied to a wide range of hosts including microbes,
 plants, and mammals to yield genetically diverse offspring for agricultural
 and pharmaceutical applications.  Morphogenic offspring are subsequently
 selected using Morphotek's proprietary screening assays to identify subtypes
 that exhibit commercially valuable output traits.  Morphogenics is
 complimentary to existing genomic platform technologies currently employed in
 the industry since it has the capacity to introduce global nucleotide
 alterations within commercially relevant host organisms yielding gene products
 with altered biochemical activity that can be directly screened for.  Selected
 hosts can be used for direct commercialization as well as genetically analyzed
 to identify variant genes that encode for a specific output trait.
 
 SOURCE  Morphotek Inc.