PanGenex, Inc., was acquired by Cell Therapeutics. PanGenex, Inc., is a majority-owned subsidiary of Cell Therapeutics, Inc, founded to focus on identifying novel drug development targets using the recently completed human genome sequence database. PanGenex, Inc. will have the technological advantage to rapidly sift through the exceptionally large quantity of human genome data to identify the minority of human genes that are valid targets for drug discovery. Because the technologies can potentially be automated and employed on a large scale, they could eliminate a major bottleneck in the identification of new drug candidates that are effective against human diseases.
