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GEN News Highlights : Nov 15, 2006

Industrial Biotechnology Inks Process Development Deal with Chinese University

Lab will serve as a hub of IBC's ALCHEMx production platform technologies.

Industrial Biotechnology (IBC) entered into a laboratory and development partnership alliance with Tianjin University.  “This relationship enables us to develop, scale up, and commercialize compounds at very low costs,” says to Andy Badolato, CEO of IBC. “Tianjin possess the expertise, know how, and geographic location in close proximity to our large-scale manufacturers.”

The university offers biological system design, vectoring, strain development, bio-transformation, and separation/purification technology for targeted compounds prior to large-scale manufacturing. IBC shall pay for lab costs and have first rights of priority for services.

Upon completion of project milestones related to process development success of targeted compounds, the department of bioengineering and school of chemical engineering at Tianjin University will receive IBC equity in the form of stock.

“This lab will serve as the hub of our ALCHEMx production platform technologies as we develop an efficient, cost-effective bio assembly line and centralize compound development and scale up efforts creating scientific, economic, and critical mass synergies.”