PORTLAND, Ore., Feb. 25, 2008 (PRIME NEWSWIRE) -- Znomics, Inc. (OTCBB:ZNOM), a pioneer in the development of the zebrafish as a vertebrate genetic platform to accelerate drug discovery, today said it has expanded its facilities to include additional laboratory space in the new Biomedical Research Building on the campus of Oregon Health and Science University (OHSU) in Portland. The approximately 1,600-square-foot space will support the company's drug discovery operations and will include a laboratory, fish facility, and offices, increasing Znomics' current facilities by one-third. The company expects to occupy the additional space in March 2008.
"This is a state-of-the-art facility that enables us to expand and advance our research on disease assays and models, compound screening, and drug discovery," said Znomics Chief Executive Officer, Richard Sessions. "This new on-campus facility is centrally located and provides us with convenient access to a vibrant scientific and educational community."
Znomics, originally a spin-out company from OHSU, has strong ties to the university. Three of its co-founders, one of its research directors, and one of its scientific advisory board members have or had positions in university academic departments or research centers. The new space is in close proximity to the laboratories of President and Chief Scientific Officer, Roger Cone and Scientific Advisory Board member, Dr. Thomas Scanlan.
About Znomics
Znomics, Inc. is focused on identifying and developing new pharmaceutical products for treatment of human disorders and diseases. The company's drug discovery platform is based on its catalogued library of mutations in the zebrafish, called the ZeneMark Library. The library, the first in a vertebrate, currently contains more than 11,000 strains of fish representing mutations in more than half of the known genome. Zebrafish share 80% - 90% of the same genes as humans. The company is leveraging this technology for its internal drug discovery efforts as well as establishing collaborative partnerships with pharmaceutical companies and universities. For more information, visit www.znomics.com
Forward-Looking Statements
With the exception of historical information contained in this press release, the matters described herein are forward-looking statements that involve risks and uncertainties. Any forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, including statements as to industry trends, future economic performance, anticipated profitability, anticipated revenues or expenses, and products or service line growth, may be significantly and materially impacted by certain risks and uncertainties, including, but not limited to, failure to meet operating objectives or to execute the operating plan, competition, and other economic factors, risks regarding product development, the timing and results of clinical trials, the regulatory approval process, capital requirements, financial condition, patent protection and dependence on third parties for development and licensing arrangements. Additional risks and uncertainties are described in the Company's public filings with the Securities and Exchange Commission, available online at www.sec.gov. Znomics undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. For more information visit our website at www.znomics.com