The speed-up in testing of new drugs will save money for pharmaceutical companies and pain for patients. Moffitt estimates the savings per drug at $35 million and says it will be able to tell whether a drug is responding in a particular patient within hours, instead of months.
•Six companies have expressed interest in setting up operations near M2Gen. The documents list them as GE Healthcare, Genzyme, Applied Biosystems, Helicos, Nuclea and DNA Print.
Both Gomez and DNAPrint Genomics will also be part of a massive research initiative announced last month by the H. Lee Moffitt Cancer Center & Research Institute of Tampa. The center said it would partner with an affiliate of Merck & Co., Inc. pharmaceutical company to expand biotechnology research with the goal of developing personalized medicine.
Merck and Moffitt will form a for-profit company, called M2GEN, that will develop personalized cancer treatments using a patient's genetic profile.
Exhibit C: some ideas on what M2GEN and DNAPrint may do?
Gomez said he expects the new subsidiary, DNAPrint Pharmaceuticals, Inc., launched in October 2005, will help its bottom line. It will be ramping up in the company's new quarters and the technology Gomez expects it to develop would cut by half the 12 years and $800 million currently necessary to develop a new drug.
"Now, with this technique, we can reduce the time of drug development by at least half to six years and decrease the cost by a significant number because we're minimizing mistakes," he explained.
News 
Market Data 
Discover 
