SAN DIEGO--(BUSINESS WIRE)--Nanogen, Inc. (Nasdaq: NGEN - News), developer of molecular and rapid diagnostic products, announced today that it has signed an end user license agreement (EULA) with Quest Diagnostics for use of the Company’s proprietary MGB Probe technology in human in vitro diagnostic testing. Under the licensing agreement, Quest Diagnostics will have rights to use and sell products and services incorporating the MGB Probe technology. Terms of the EULA include an upfront fee and royalties paid on tests sold using the licensed technology.
“We’re proud that Quest Diagnostics, the world’s leader in diagnostic testing, is using our proprietary minor groove binder (MGB) technology and incorporating it into some of their laboratory developed molecular tests,” said Merl Hoekstra, Nanogen’s Vice President of Corporate and Business Development. “We’re proud of the growing reputation and the expanding base of licensed end users of our technology.”
The Company’s MGB Probe technology is broadly licensed in the research and clinical fields and accounts for a majority of the Company’s revenue today. Nanogen has more than 40 reagent and kit products sold for in vitro diagnostic use under the MGB Alert® and Q-PCR Alert™ brands. End users who use or would like to use our proprietary technology should contact our licensing group to obtain a EULA.
About Nanogen, Inc.
Nanogen, Inc. develops diagnostic products that enable physicians to deliver improved patient care. Its products allow faster and easier diagnosis, treatment and monitoring of cardiovascular disease and a range of infectious diseases. The company’s products include molecular diagnostic kits and reagents, and kits for rapid point-of-care testing. Nanogen has pioneered the development of biomarkers, molecular biology technologies and nanotechnology to bring better results to diagnostics and healthcare. For additional information please visit Nanogen’s website at www.nanogen.com.
Nanogen Forward-Looking Statement
This press release contains forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements, including whether patents owned or licensed by Nanogen will be developed into products, whether the patents owned by Nanogen offer any protection against competitors with competing technologies, whether products under development can be successfully developed and commercialized, whether results reported by our customers or partners can be identically replicated, and other risks and uncertainties discussed under the caption "Factors That May Affect Results" and elsewhere in Nanogen’s Form 10-K or Form 10-Q most recently filed with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. Nanogen disclaims any intent or obligation to update these forward-looking statements.
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