Genopsys Enters into Agreement with AdapCS, Inc.
SOQUEL, California, August 7, 2006 – Genopsys, Inc. has announced commencement of a management services relationship with AdapCS, Inc. of Marina, California. Under the terms of a recently finalized agreement, AdapCS will assist Genopsys in several aspects of its strategic planning and operational activity. The team from AdapCS will be led by Larimore Cummins, M.D., and will include Kelly O'Keefe, M.D., Ph.D.
"I look forward to working with the AdapCS team as we reposition our company to take advantage of a rapidly expanding market in biopharmaceuticals," says Eric Lietz, Ph.D., Genopsys Founder and President.
Genopsys' proprietary core technologies involve unique and novel protein engineering methods useful for the development of new and improved diagnostics and therapeutics. Genopsys' methods involve the reengineering of the genes that encode selected proteins through the modification of the DNA molecules that encode these proteins. The company reports that the its patent portfolio continues to evolve. "We have been very pleased with maturation of our patent portfolio," stated Dr. Lietz. Since its founding in 2001, the company has accumulated three patents that support and secure its core genetic engineering activities.
"Eric's innovative ideas have evolved into an exciting opportunity for Genopsys," says Dr. Cummins. "We look forward to working with the Genopsys team as the company solidifies its IP position and positions itself for its debut in the exciting market niche of Directed Molecular Evolution," an industry term for optimization of proteins through selective incorporation of desired molecular properties.
Genopsys envisions a multiphase relationship with AdapCS: initially consultative in nature, followed by more formal hands-on management services. During the first phase of its relationship AdapCS is charged with revising the Genopsys strategic plan, assisting in patent prosecution and IP strategy, evaluating capitalization alternatives, and supporting various aspects of current operations.
"We hope to complete the first phase of our engagement within three to four months and look forward to moving to the next phase before yearend," says Dr. Cummins.
AdapCS, Inc. provides consultative services for early-phase healthcare technology companies. Additional information regarding AdapCS and its products and services can be found on their website at www.adapcs.com.
About Genopsys
Genopsys, Inc., is an early-phase bioengineering company with offices in Soquel, California. The company is dedicated to the development of protein pharmaceuticals using its proprietary method of directed molecular evolution. Additional information is available at www.genopsys.com.
