Platypus Technologies: Receives $396,000 IMAT grant from National Cancer Institute to develop 384-well cell migration assay for high throughput screening

Madison, WI – Platypus Technologies announces that it has been awarded an Innovative Molecular Analysis Technologies (IMAT) grant for $396,000 from the National Cancer Institute. This 2-year funded project will enable the Company to expand its current OrisTM assay format into a 384-well cell migration assay suitable for High Throughput Screening (HTS) of chemical libraries for cancer therapeutics. The proposed 384-well HTS cell migration assay will dramatically improve testing thoughput (allowing increased numbers of compounds to be tested) and efficiency (minimizing hands-on time), while markedly reducing the cost per assay. According to Richard Schifreen, President and CEO, “This intended product has the potential to streamline the drug discovery process by facilitating rapid screening of molecular libraries for development of therapeutics that block cancer cell metastasis and lead to novel cancer drugs.” Platypus Technologies has received over $18 million in federal funding to develop cell-based assays for the study of cell motility, and LC-based nanotechnology products for environmental monitoring, infectious disease testing and homeland security.

About Platypus Technologies, LLC:

Platypus Technologies, LLC develops innovative products for the analytical and life sciences that utilize recent advances in nanotechnology and materials science. Platypus Technologies has successfully launched several products in the OrisTM cell-based assay line that enable life science researchers to study cell migration and cell invasion; events critical to a variety of in vivo processes. The Company is also developing a range of products, for diagnostic, environmental and laboratory applications, that derive from a proprietary platform technology utilizing liquid crystals for the rapid and low-cost detection of molecular interactions.

For more information: Ann Krohn, MS

Marketing Communications Manager

Ph: 608.237.1270 x333

akrohn@platypustech.com