Assay Depot Secures Financing to Launch Pharmaceutical Outsourcing Marketplace

SAN DIEGO--(BUSINESS WIRE)--Assay Depot announced today that it has raised $1.8 million from private investors in a Series A financing. The funds will be used to launch an online marketplace for pharmaceutical research services.

“Our goal is to help customers take a systematic approach to drug discovery, one that defines a clear path through target validation, lead discovery, lead optimization and pre-clinical development.”

“This financing will enable us to finish building a unique Internet marketplace that will help the pharmaceutical industry achieve the increased efficiency it so desperately needs,” stated Kevin Lustig, PhD, President and CEO, Assay Depot. “An efficient online pharmaceutical marketplace will transform how drug discovery is done.”

The new marketplace will enable industry and academic drug researchers to place online orders for pharmaceutical services being offered by US-based and international research service providers. By acting as the single point of contact between research scientists and research service providers, the marketplace can maintain high quality standards for researchers and reduce infrastructure requirements for providers.

“We founded Assay Depot to level the playing field for drug researchers and to help service providers succeed,” commented Andrew Martin, PhD, Chief Information Officer, Assay Depot. “For customers, we’re a one-stop shop for high quality research services. For service providers, we’re a unique way to increase revenue and gain market share without having to build additional business infrastructure.”

Assay Depot’s fixed price policy makes it simple for customers to place orders online the moment they decide data is needed, without having to negotiate first. “By aggregating services from multiple providers, the marketplace improves the odds of uncovering therapeutically relevant activities,” stated Christopher Petersen, Vice President of Software Development, Assay Depot. “Our goal is to help customers take a systematic approach to drug discovery, one that defines a clear path through target validation, lead discovery, lead optimization and pre-clinical development.”

About Assay Depot

Assay Depot is an Internet marketplace for the pharmaceutical services industry, scheduled to be launched in early 2008. By acting as a single point of contact between drug researchers and research service providers, the marketplace dramatically improves the efficiency of the drug discovery process and, ultimately, helps deliver better and safer drugs to market. Assay Depot is headquartered in San Diego, California USA. It can be found on the web at www.assaydepot.com.

For information on how to become a service provider in Assay Depot’s drug discovery marketplace, please contact:

Kevin Lustig, PhD
TEL [phone] x201
EMAIL [e-mail]