Navigation Links
On Second Anniversary, Compendia Bioscience Announces Significant Revenue Growth, Completion of Product Milestone and Expansion of Pharma Customer Commitments
Date:2/19/2008

ANN ARBOR, Mich., Feb. 19 /PRNewswire/ -- Compendia Bioscience, Inc. today announced results of a second productive year, including a renewed and expanding commitment from all major customers and the addition of several "Top 20" oncology drug companies to its customer roster. The new customers and existing customer commitment expansions led to a greater than 300% revenue increase, with similar growth forecasted for 2008.

(Logo: http://www.newscom.com/cgi-bin/prnh/20070213/NYTU093LOGO )

A key factor in Compendia's financial growth in 2007 was the mid-year release of Oncomine(TM) Concepts Edition, a unique analysis approach using drug and pathway signatures to help drug researchers and developers better understand a specific drug's biology and predict tumor populations likely to respond to the drug. Additionally, Compendia significantly expanded the Oncomine gene expression database in 2007 with cell line panels and drug perturbation studies, areas of specific interest for its customers.

"The addition of Oncomine Concepts Edition and targeted expansion of our data collection and curation efforts were key to our sales success last year, and multi-year commitments from customers have positioned us well for 2008 and beyond," said John Freshley, Compendia's Chief Business Officer. "We are particularly proud that we now count 12 of the top 20 oncology companies as our customers and are in active discussions with several more."

In addition, a major product milestone was completed in 2007 with the transition of the free academic offering from the University of Michigan to Compendia. With more than 15,000 user registrations, Oncomine has long been a leading tool for academic and non-profit researchers.

"This was a very significant step for Compendia," commented co-founder and CEO Dan Rhodes. "We have actively developed exciting new features for Oncomine within Compendia and the only practical way to guarantee academic community access to these features was to take full responsibility for website support and data delivery."

"It was a big investment in both time and money, but it has always been critical to us that the academic communities have the same research capabilities as our corporate customers. We are proud that many of these new capabilities are still provided under a free research license," continued John Freshley. "Some advanced custom analyses require a license to Oncomine Research Premium Edition, but this modest investment is a tremendous value given the groundbreaking research that we and others have been able to accomplish using the premium features."

Along with expanded and new customer commitments, Compendia received an additional financial boost in 2007 when awarded a $2.4 million dollar SBIR Fast-Track award from the National Cancer Institute.

"This award was terrific validation of our approach and will allow us to truly scale the Oncomine platform in the future," said Dan Rhodes. "We have already completed the phase I feasibility portion of the award and are looking forward to rapidly executing the rest of the project."

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. http://www.compendiabio.com

About Oncomine(TM)

Oncomine(TM) combines a rapidly growing compendium of 24,000+ cancer transcriptome profiles with a sophisticated analysis engine and a powerful web application for data mining and visualization. Oncomine facilitates rapid and reliable biomarker and therapeutic target discovery, validation, and prioritization. http://www.compendiabio.com/products/products.htm


'/>"/>
SOURCE Compendia Bioscience, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine technology :

1. Spherix Reports Second Quarter Earnings
2. Tapestry Reports Second Quarter 2007 Results
3. Callisto Reports on Second-Quarter 2007 Milestones
4. Emisphere Technologies, Inc. Announces 2007 Second Quarter Financial Results
5. Amicus Therapeutics Announces Second Quarter 2007 Financial Results
6. Genta Incorporated Announces Second Quarter 2007 Financial Results and Corporate Highlights
7. Vical Reports Second Quarter 2007 Financial Results, Allowance of Pandemic Influenza IND and Other Advances in Product Development Programs
8. Genzyme Announces Second Pivotal Mozobil Trial Meets Primary Endpoint
9. Nabi Biopharmaceuticals Announces Second Quarter 2007 Financial Results
10. NeurogesX Announces Positive Results from Second Phase 3 Clinical Trial in Postherpetic Neuralgia
11. Kosans Second-Generation Hsp90 Inhibitor, Alvespimycin, Shows 42% Clinical Benefit in Phase 1 HER2-Positive Metastatic Breast Cancer Trial
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2016)... 24, 2016 According to a ... (Standard Pen Needles, Safety Pen Needles), Needle Length (4mm, ... Hormone), Mode of Purchase (Retail, Non-Retail) - Trends & ... studies the market for the forecast period of 2016 ... 2.81 Billion by 2021 from USD 1.65 Billion in ...
(Date:6/24/2016)... 24, 2016  Arkis BioSciences, a leading innovator ... more durable cerebrospinal fluid treatments, today announced it ... funding is led by Innova Memphis, followed by ... private investors.  Arkis, new financing will accelerate the ... market release of its in-licensed Endexo® technology. ...
(Date:6/23/2016)... HILLS, Calif. , June 23, 2016 Any ... the many challenges of the current process. Many of them ... because of the technical difficulties and high laboratory costs involved. ... have to offer it at such a high cost that ... afford it. Dr. Parsa Zadeh , founder ...
Breaking Medicine Technology:
(Date:6/25/2016)... ... June 25, 2016 , ... Austin residents seeking Mohs surgery services, can ... Surgery and to Dr. Russell Peckham for medical and surgical dermatology. , Dr. Dorsey ... cancer. The selective fellowship in Mohs Micrographic Surgery completed by Dr. Dorsey was under ...
(Date:6/25/2016)... ... June 25, 2016 , ... First Choice Emergency Room , the largest ... as the Medical Director of its new Mesquite-Samuell Farm facility. , “We are ... Mesquite location,” said Dr. James M. Muzzarelli, Executive Medical Director of First Choice Emergency ...
(Date:6/25/2016)... ... 25, 2016 , ... On Friday, June 10, Van Mitchell, Secretary of the ... to iHire in recognition of their exemplary accomplishments in worksite health promotion. , The ... Health & Wellness Symposium at the BWI Marriott in Linthicum Heights. iHire was one ...
(Date:6/24/2016)... , ... June 24, 2016 , ... Those who have ... these feelings, many turn to unhealthy avenues, such as drug or alcohol abuse, as ... Michigan, has released tools for healthy coping following a traumatic event. , Trauma sufferers ...
(Date:6/24/2016)... ... June 24, 2016 , ... The Pulmonary Hypertension ... that it will receive two significant new grants to support its work to ... its 25th anniversary by recognizing patients, medical professionals and scientists for their work ...
Breaking Medicine News(10 mins):