Publicly traded since 1992, in 2002, Paracelsain moved to OTC. In its first three years aftre founding, Paracelsian was engaged primarily in the development and marketing of products that detect cancerous tissues and identify toxic chemicals. The Company developed ELISA kits for the detection of cancer causing chemicals, a diagnostic for the detection of cancer in animals, and an assay for the measurement of dioxin levels in the environment. All of these products are based on a biochemical process known as signal transduction, a form of information processing within the cell. In October 1994, Paracelsian merged with Pacific Liaisons, a general partnership engaged in the collection and extraction of traditional Chinese medicines ("TCMs"). This merger provided to the Company a library of 2,150 TCM extracts, as well as an agreement with a Chinese research institute to collect an additional 5,000 to 10,000 such extracts and to develop one of the world's largest databases on TCM. In addition, the Company formatted p34, one of the key proteins involved in cellular signal transduction, into a novel drug discovery screen. These three assets - a novel drug discovery screen, a large library of novel natural products, and a comprehensive database containing information on historical use of these material - have enabled Paracelsian to become a cost-effective source of novel drug candidates for the established pharmaceutical industry. Paracelsian is also using these assets to develop novel herbal bases for use in over-the-counter medicines and personal care products.
