|By PR Newswire||
|April 16, 2014 10:00 AM EDT|
SALT LAKE CITY, April 16, 2014 /PRNewswire/ -- Echelon Biosciences, Inc. (EBI) announces the acquisition of California Peptide Research, Inc. (CPRI) to offer its line of biochemicals and research peptides, and to further drive innovations in the growing peptide research and development markets.
The primary customers of EBI include pharmaceutical and research and development companies, whose research indicates dramatic growth in the peptide therapeutics market and vast expansion over the next five years.
"The acquisition represents a natural, strategic step for Echelon," said W. Tim Miller, President and CEO of EBI.
According to a report published Mar. 13, 2013 by Transparency Market Research, "…the global peptide therapeutics market was valued at USD 14.1 billion in 2011 and is estimated to reach a market worth USD 25.4 billion in 2018…"
"Peptide therapeutics show neurological applications, including Alzheimer's disease," said Miller, "Along with broader capabilities for developing assays – superior to traditional methods."
CPRI was founded in 1993, and remains a recognized provider of standard, unique and custom peptides for use in medical research, biology and biochemistry, continually maintaining a reputation for reliable and quality products in the peptide research field.
"This will provide Echelon an expanded offering of research reagents to our pharmaceutical and diagnostic customers," said Miller, "As well as incorporate the peptide expertise into our own research and development."
CPRI will relocate operations to the Salt Lake City-based facility of EBI, and join corporate divisions that include Logan, UT-based Frontier Scientific, Inc. and Newark, DE-based Frontier Scientific Services, Inc.
CPRI products will continue to be offered via the CPRI website, additionally via the EBI website and be offered in the near future through Frontier Scientific Services, Inc.
"We are please to have completed the acquisition of California Peptide," said Miller, "This acquisition allows Echelon to marry its strength, credibility and biochemical research expertise with the service and product offerings of CPRI."
About Echelon Biosciences, Inc.
Established in 1997, Echelon Biosciences, Inc. (EBI) aims to further the science of lipid-cell signaling and critical metabolic enzymes through the development of biochemicals, assays and reagents that aid research in the fields of cancer, inflammation, neurobiology and metabolism. In 2007, EBI was acquired by Frontier Scientific, Inc., a recognized provider of boronic acids and porphyrin compounds for application development, and pharmaceutical and industrial research. Frontier Scientific Services, Inc. provides solutions for sample management and other common issues when conducting research -- sample library curation, standardization and re-formatting, compound procurement, storage and distribution, LC/GC-MS analysis and in-sourced staffing. California Peptide Research, Inc. (now) represents the fourth corporate division, whose peptide-based products are used in medical research, biology and biochemistry.
SOURCE Echelon Biosciences, Inc.