Empire Genomics (EG) will provide molecular diagnostic kits, analytical services and related products that leverage its expertise in the array comparative genomic hybridization (aCGH) technology platform. aCGH detects small alterations in the human genome that are associated with a number of mental and physical defects including Down's Syndrome and various forms of cancer. This technology has unprecedented speed and accuracy and greatly reduced cost compared to traditional cytogenetic tests.
The aCGH technology has been built in part from the research of Dr. Norma Nowak, the founder of Empire Genomics. Dr. Nowak is well renowned in the field of genomics, is the Director, Scientific Planning at the NYS Center of Excellence in Bioinformatics & Life Sciences and is director of the Microarray and Genomics Facility at Roswell Park Cancer Institute.
EG's products and services will initially be sold to the research market, but the company will penetrate the much larger diagnostic (clinical) market after receiving the required certifications. EG plans to participate in the areas of molecular diagnostics, drug discovery, prenatal screening, personalized medicine initiatives and stem cell biology. These potential markets are very large and growing, with a projected global microarray market of >$1 B, molecular cytogenetic diagnostic market of $1.5 B and cancer diagnostic market of $7.4 B in 2010.
Initial business management will be provided by Buffalo BioSciences LLC, which possesses a collective 70+ years experience and has assembled a cohesive team supported by legal, accounting and production expertise. EG is seeking to complete its initial funding round of ~$1MM to fund infrastructure, business launch, staffing and marketing activities.