Assay Depot to Offer Nanostream Assay Services Online

Assay Depot, an Internet marketplace for drug discovery services, today announced that Nanostream, provider of products and services to increase productivity in laboratories at pharmaceutical and biotech companies, will join the company?s service provider network. As a service provider, Nanostream?s assay services will be available for scientists to order online via Assay Depot?s website. Designed for optimum ease-of-use and flexibility, the marketplace enables customers to select the desired assay with a few mouse clicks, mail their test sample, and receive a full data report from Assay Depot a few weeks later. Assay Depot?s online marketplace will include multiple service providers offering a wide range of drug discovery research services.

Nanostream has assembled a team of world-class application scientists with deep expertise in the development of biochemical assays. By employing a separation-based approach to assay development, Nanostream has successfully developed challenging assays for kinases, lipid-modifying enzymes, proteases, and cytochrome P450 enzymes. Nanostream?s technology offers a low frequency of false positives that result in reduced timelines and lower project costs.

?Bioassay support has increasingly become too labor-intensive and too time-consuming for drug discovery organizations, which has led researchers to outsource this costly function,? said Jonas Ekblom, COO, Nanostream. ?Assay Depot provides a virtual laboratory where researchers can conduct their drug discovery programs with the click of a button. With its unique business model, Assay Depot streamlines the process for the customer and the service provider. We are excited to be a part of this ground-breaking, online marketplace, which is well-positioned to redefine how drug discovery is done.?

?Nanostream has proven success in rapidly developing assays for leading pharmaceutical companies. Their unique technology platform affords robust, high quality data and has the ability to offer label-free assay formats,? said Kevin Lustig, CEO & President, Assay Depot. ?Together, we hope to improve productivity for researchers by providing them with the comprehensive assay data they need to make better decisions earlier in the drug discovery process.? Last week, Assay Depot announced that the company has secured $1.8 million in Series A financing. Assay Depot will use the financing to launch its online marketplace in early 2008.