TRENTON, ME--(Marketwire - December 03, 2010) -
Bar Harbor BioTechnology announced today plans to launch a new division focused on molecular diagnostics and personalized medicine. This new division will create genetic diagnostic tests that determine an individual's risk of developing a disease. In 2009 the company made a breakthrough using its technology that allowed it to generate a statistical prediction of a person's susceptibility of developing a disease. The first test will be for colorectal cancer and is scheduled to be completed in January 2011.
Robert Phelps, CEO of Bar Harbor BioTechnology, says the company has already started work on similar tests for Alzheimer's disease, Prostate Cancer and Lupus. He stated that the company has contacted the FDA seeking guidance regarding the manufacturing of these new tests and plans to work closely with the agency as new regulations are being developed for the genetic testing market. For now the company is reviewing its financial options to fund the new division which has a long term goal of creating a federally certified laboratory to conduct these tests for point of care physicians.
About Bar Harbor BioTechnology:
Bar Harbor BioTechnology is a privately held company that was formed in October 2006 and is located in Trenton, Maine. It manufactures software and consumables for purposes of genetic research in areas of cancer, stem cell research, immunology, metabolism, and specific neurological disorders. The company signed an exclusive sales agreement with Lonza Corporation in 2008 for global distribution of its research use only products.
For more information, please contact Robert Phelps at: firstname.lastname@example.org
© 2010 Bar Harbor BioTechnology Inc. All rights reserved.
Bar Harbor BioTechnology Inc. undertakes no obligation to release publicly the results of any revisions to any forward-looking statement made or implied in this release, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Statements in this release should be evaluated accordingly.