SOURCE: Nanobac Pharmaceuticals, Inc.

April 21, 2009 09:45 ET

Nanobac Pharmaceuticals Merger Partner Eureka to Utilize Best-In-Class Illumina Genome Analyzer Technology at Newly Launched Eureka Genomics Center

TAMPA, FL--(Marketwire - April 21, 2009) - Nanobac Pharmaceuticals, Inc. (PINKSHEETS: NNBP) and its privately held merger partner Eureka Genomics, which applies its proprietary functional genomics platform technology to the analysis of complex biological systems to enable rapid pathogen analysis, and to inform the discovery and development of diagnostic, biopharma and cleantech products, announced that it is launching its first Eureka Genomics Center in North America.

Eureka plans to open 15 Genomics Centers around the world. The next three centers are scheduled to open in Southeast Asia, Central America and Europe, all within 12 months.

"We are very excited to finally provide our customers with a one stop shop from DNA extraction, sample preparation, Next Generation Sequencing, post sequencing and advanced bioinformatics analysis," said Michael Tippie, vice president of business development for Eureka Genomics.

For the first four months of 2009, Eureka Genomics has received over $500,000 in orders for its Next Generation Sequencing and bioinformatics services, and forecast over $3 million in sales for the next twelve months. Current customers include pharmaceutical, biotech and cleantech companies, universities, and U.S. government national laboratories.

Eureka Genomics has opted to utilize a Genome Analyzer as its first Next Generation Sequencer. Designed for facilities of all sizes, the Illumina Genome Analyzer has been adopted across genome centers worldwide, plus individual research labs, core and service facilities, and biotechnology and pharmaceutical companies.

About Eureka Genomics

Eureka Genomics is a privately held company that has commercialized a proprietary Next Generation DNA sequencing data analysis platform to enable the discovery and development of next-generation diagnostics, therapeutics, vaccines, and cleantech products such as bioenergy feedstocks.

Key backing for the development of the firm's proprietary technology came from the U.S. National Institutes of Health, the U.S. Department of Homeland Security Science and Technology Directorate, the Texas Learning and Computational Center, and the W. M. Keck Foundation.

Eureka has announced its intention to merge with Nanobac Pharmaceuticals Inc. (PINKSHEETS: NNBP). The Merger Agreement is subject to significant contingencies, including (1) conversion of substantially all of Nanobac's debt to equity, by its securities holders, (2) Nanobac raising $2.35 million of new equity, (3) Nanobac providing to Eureka its audited financial statements for the year ended December 31, 2008 and unaudited financial statements through at least March 31, 2009, satisfactory to Eureka's management, (4) Nanobac bringing all of its SEC filings current, and (5) other customary closing requirements.

Eureka is headquartered in Hercules, California and has operations in Houston, Texas.

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