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Harris & Harris Group Notes CordenPharma's Acquisition Of Ancora's Carbohydrate Synthesis Platform And Corporate Name

NEW YORK, Nov. 7, 2013 (GLOBE NEWSWIRE) -- Harris & Harris Group, Inc. (Nasdaq:TINY), an investor in transformative companies enabled by disruptive science, notes CordenPharma's acquisition of Ancora Pharmaceuticals ' carbohydrate synthesis technology platform and the use of the corporate name of Ancora Pharmaceuticals. Ancora's technology and chemistry research facilities complement CordenPharma's capabilities in the manufacture and supply of high-quality complex synthetic molecules.

As a result of the acquisition, Ancora's extensive know-how and historical expertise in carbohydrate synthesis will be merged with CordenPharma's process development, scale-up and cGMP manufacturing capabilities. This acquisition is a key step in CordenPharma's strategy to become the leading global supplier of synthetic carbohydrates for all applications, including glycoconjugate vaccine antigens, immunomodulatory therapeutics, tissue targeting/drug delivery motifs, nutraceuticals, analytical reagents and standards, diagnostic reagents, and defined content for glycomics research.

Together, Ancora and CordenPharma are now equipped to provide carbohydrate synthesis and production needs from early-stage discovery research through to commercial cGMP manufacturing at any scale.  Both CordenPharma and Ancora will serve customers out of Ancora's Woburn, MA, facility, with newly expanded capabilities for seamless transition to large scale cGMP manufacturing at CordenPharma's facilities in the United States and Europe.  While the Ancora brand will remain, inquiries will be evaluated and handled in coordination with CordenPharma in an effort to comprehensively cover all aspects from chemistry development to large-scale GMP manufacturing. CordenPharma's press release can be viewed at http://cordenpharma.com/cordenpharma-acquires-ancora-pharmaceuticals/ .

"We are excited for Ancora to join CordenPharma, which will expand Ancora's chemistry expertise into an organization that can provide scale and cGMP manufacturing of complex synthetic carbohydrates," said Dr. Misti Ushio, Executive Vice President and Managing Director of Harris & Harris Group and Chairperson of Ancora Pharmaceuticals.

The remaining assets of Ancora will be maintained under the corporate name SynGlyco, Inc.

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