*** Welcome to piglix ***

Aurora Biosciences

Aurora Biosciences
Subsidiary
Industry Pharmaceuticals & Biotherapeutics
Fate Acquired by Vertex Pharmaceuticals
Founded 1995

Aurora Biosciences was a biotechnology company founded in 1995 in San Diego to commercialize fluorescence assays based on Roger Y. Tsien's discoveries concerning green fluorescent protein and its uses in basic research - work for which Tsien eventually won the 2008 Nobel Prize in chemistry along with two other chemists. Aurora was formed at a time when established pharmaceutical companies were seeking to harness the fruits of the Human Genome Project, which had overwhelmed them with potential drug targets, and the explosion of new research tools enabled by biotechnology, as well as revolutions in chemistry that allowed many more, and many more kinds, of potential drugs to be made.

Platform technology companies like Aurora proliferated, and Aurora became a leader in providing assay development and high throughput screening services and equipment to the pharma industry. In 2000, as the investment climate turned against platform companies, Aurora started to work on its own drug discovery programs. It struck a deal with the Cystic Fibrosis Foundation under which CFF invested $30 million in Aurora, with the promise of further investment based on success, in exchange for Aurora agreeing to discover and develop new drugs to treat cystic fibrosis. This was one of the first examples of venture philanthropy. Aurora was acquired by Vertex Pharmaceuticals in 2001, but the arrangement with CFF continued and resulted in the discovery of ivacaftor in 2005 and the approval of that drug in 2012.

Aurora Biosciences was founded in 1995 in San Diego to commercialize fluorescence assays based on Roger Y. Tsien's discoveries concerning green fluorescent protein and its uses in basic research - work for which he eventually won the 2008 Nobel Prize in chemistry along with two other chemists. Aurora was incorporated in California in May 1995 and was reincorporated in Delaware in January 1996. Tsien co-founded the company with two colleagues from the faculty of University of California, San Diego, Charles Zuker and Michael Geoffrey, and a venture capitalist, Kevin J. Kinsella of Avalon Ventures. The first business people they brought on were Tim Rink, who became Chairman and CEO, and Frank Craig to lead assay R&D and Harry Stylli to drive sales in the assay business.


...
Wikipedia

...