HTG Molecular Diagnostics And Daiichi Sankyo, Inc. Complete Master Services Agreement
TUCSON, Ariz., April 17, 2017 (GLOBE NEWSWIRE) -- HTG Molecular Diagnostics, Inc. (Nasdaq:HTGM), a provider of instruments, reagents and services for molecular profiling applications, announced that it has entered into a master services agreement with Daiichi Sankyo Company, Limited (Daiichi Sankyo) for work to be performed in HTG’s VERI/O laboratory. The initial project includes the development of a custom assay for the detection of nearly 3,000 mRNA targets using the HTG EdgeSeq technology.
When completed, the custom assay will be used to generate data from formalin-fixed, paraffin-embedded (FFPE) samples. Daiichi Sankyo plans to use these data to identify a tumor profiling assay for future studies under the agreement. Daiichi Sankyo also has engaged HTG to process several hundred FFPE samples using the HTG EdgeSeq ALKPlus Assay EU in a research use only mode for exploratory research on new, potential therapeutic biomarkers.
“We appreciate the confidence Daiichi Sankyo has shown in our HTG EdgeSeq technology and VERI/O laboratory by entering into the master services agreement. We are excited to support their important research objectives and the ultimate goal of identifying diagnostic tests that better target therapies for improved patient response,” stated TJ Johnson, President and Chief Executive Officer of HTG. “Development work for the initial project is already underway in our laboratory.”
About HTG:
Headquartered in Tucson, Arizona, the mission of HTG Molecular Diagnostics (HTG) is to empower precision medicine at the local level. In 2013 the company commercialized its first instrument platform and a portfolio of RNA assays that leveraged HTG's original proprietary nuclease protection chemistry. Continuous improvement led to the 2014 launch of the company’s HTG EdgeSeq product line, which automates sample and targeted library preparation for next-generation sequencing. Additional information is available at www.htgmolecular.com.
Safe Harbor Statement:
Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about the anticipated benefits or outcomes of our agreement with Daiichi Sankyo Company, Limited, the capabilities of our technology, and our ability to successfully develop custom assays or develop, market and commercialize companion diagnostic assays. Words such as "believes," "anticipates," "plans," "expects," "intends," "will," "goal," "potential" and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements necessarily contain these identifying words. These forward-looking statements are based upon management's current expectations, are subject to known and unknown risks, and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, including, without limitation, risks associated with the process of developing, marketing and commercializing our products, our ability to achieve and sustain sufficient market acceptance, and the capabilities of our product and service solutions to keep pace with rapidly changing technology and customer requirements. These and other factors are described in greater detail in our filings with the Securities and Exchange Commission, including without limitation our Annual Report on Form 10-K for the year ended December 31, 2016. All forward-looking statements contained in this press release speak only as of the date on which they were made, and we undertake no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.
Contact: Westwicke Partners Jamar Ismail Phone: 415-513-1282 Email: jamar.ismail@westwicke.com TJ Johnson President / CEO HTG Molecular Diagnostics Phone: 520-547-2827 x130 Email: tjjohnson@htgmolecular.com