Single Cell Technology and AB Biosciences Announce Collaboration

San Jose, California, UNITED STATES

SAN JOSE, Calif. and ALLSTON, Mass., Nov. 21, 2013 (GLOBE NEWSWIRE) -- Single Cell Technology, Inc. (SCT) and AB Biosciences (ABB) today announced a collaboration to identify therapeutic antibodies. SCT will utilize its patented platform to massively screen plasma cells, measure the kinetics of secreted antibodies, and sequence the cognate light and heavy chain mRNA powered by Next Generation Sequencing (NGS). ABB will select antibody targets, engineer protein antigens, and develop analytical tools to further characterize the large panel of antibodies identified by SCT's platform. The alliance is expected to fundamentally change the paradigm for antibody development by bringing together the latest technological innovations with refined protein engineering and assay development.

Dr. Chun-Nan Chen, Founder and CEO of SCT, said: "SCT has developed an innovative antibody discovery platform. Together with AB Biosciences' premier protein engineering capacity and astute insights in antibody drug development, we will utilize our platform to outperform traditional antibody discovery techniques."

Dr. Yen-Ming Hsu, Founder and CEO of ABB, continued: "ABB's extensive knowledge in target selection for antibody drugs, and expertise in engineering, production, and assay development of high quality target-related proteins are fully complementary to SCT's innovations in rapid identification and characterization of therapeutic antibodies. The partnership of AB Biosciences with SingleCellTechnology, which we call Antibody Biologix, or ABBX, represents a quantum leap in antibody discovery."

About Single Cell Technology, Inc.

Single Cell Technology, Inc. (SCT) has pioneered a new approach to antibody discovery. Antibodies from secreting cells are rapidly screened against multiple molecules to measure their affinity and specificity and correctly paired mRNA from the cognate light and heavy chains are sequenced by Next Generation Sequencing (NGS). In addition to human and mouse cells, SCT's technology can be applied to any host that concentrates plasma cells in lymphoid tissues. SCT integrates advances in multiple disciplines, such as wafer fabrication, molecular biology, precision mechanical engineering, nanotechnology, image processing, NGS, and bioinformatics. SCT's approach substantially decreases the time and investment needed to discover high quality therapeutic and diagnostic antibodies.

About AB Biosciences, Inc.

AB Biosciences (ABB) is dedicated to the engineering and production of niche protein molecules that enhance and accelerate biomedical research and antibody drug development. The long range goal is to develop novel biologics for diagnostic and therapeutic applications. With decades of combined experience in both academic research and biopharmaceutical development, ABB's scientists have built an efficient technology platform in recombinant engineering and assay development. The company is actively engaged in studies on a sizable number of molecules for immunological and oncological indications. ABB's founders, with decades of experience in viral-mediated gene transfer, T and B cell immune-biology, and protein therapeutics, have discovered a significantly better model of discovery and commercialization of antibody-based biologics, and streamlined the processes for developing niche biologics for identified unmet needs.

Forward-Looking Statements

This news release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The inclusion of forward-looking statements should not be regarded as a representation that either of the companies' plans or objectives will be achieved. Forward-looking statements involve inherent risks and uncertainties and a number of important factors could cause actual results to differ materially from those contained in any such forward-looking statement. These factors include, but are not limited to, uncertainties associated with: drug development and regulatory review process, scientific discovery process, competition, pricing environment, financing, intellectual property, and the evolution of the market for innovative antibody discovery. The companies undertake no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.


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