THOROLD, ON, March 17 /PRNewswire/ - Norgen Biotek, an innovative Canadian biotechnology company focusing primarily on advancing powerful tools for nucleic acids and protein purification, today announced the signing of an OEM agreement with Exiqon A/S to supply RNA purification kits based on Norgen's proprietary purification technology. Exiqon A/S is a Denmark-based company active in the life sciences, diagnostics and pharma services. Terms of the agreement were not disclosed.
"Norgen is an experienced provider of nucleic acids purification kits and we look forward to working with them to provide the best research tools for our customers" says Henrik M. Pfundheller, Vice President Sales and Marketing and continues: "Adding these products to our miRCURY(TM) LNA product line is an important step in order to broaden our product portfolio and to fulfill our ambition of being a total solution provider in the field of miRNA analysis".
Dr. Yousef Haj-Ahmad, President of Norgen Biotek Corp, states, "We are excited about this OEM manufacturing & supply agreement for our best-in-class RNA isolation kits. Exiqon is well known for their LNA(TM) technology and are highly respected in the microRNA market. We are eager to work with Exiqon and their reputable high quality standard of products in the microRNA field. We have had a good business relationship, and are looking forward to extending this relationship in the long term."
About Norgen Biotek Corp.
Norgen has a unique, proprietary platform technology with many applications, including the purification of DNA, RNA and proteins. The company holds more than a dozen issued patents, and many others are pending. Norgen has an excellent complementary portfolio of over 55 product offerings based on our technology, and among these various products we have identified at least three major areas where our products have significant competitive advantages. Our flag-ship products are:
About Exiqon A/S
Exiqon is a biotech company with activities in three business areas where the company's technologies provide a competitive advantage: sale of diagnostic tests (Exiqon Diagnostics), sale of innovative research products for miRNA research (Exiqon Life Sciences), and in contract research together with pharmaceutical companies (Exiqon Pharma Services). Exiqon is dedicated to personalizing the treatment selection for cancer patients. The aim is to optimize the use of existing medicine and avoid unnecessary and non-effective treatment. By using molecular diagnostic tests that analyse the genetic profile of each patient's tumor, treatment selection can be optimized for individuals. Exiqon is uniquely positioned to develop such new diagnostic tests. Exiqon already markets diagnostic tests that based on fresh tumor tissue enable doctors to test whether their patients are resistant to one or more of the chemotherapies offered to treat these patients and help them select an efficacious treatment. Exiqons new molecular diagnostic products are based on the LNA(TM) technology that enables testing on fixed tissue. The first molecular diagnostic product was launched in December 2008. A number of new products will follow in the years ahead. Using the LNA(TM) technology is what has allowed Exiqon to establish a position for itself as one of the market's leading providers of research products for gene expression analysis. These research products are used by university scientists and in the pharmaceutical industry around the world to make groundbreaking discoveries about the correlation between gene activity and the development various diseases. Exiqon is also collaborating with pharmaceutical companies in their effort to develop new medicines based on biomarkers (Personalized Medicine). Exiqon has more than 200 employees and is listed on the NASDAQ OMX in Copenhagen and categorized as a biotech company (Small Cap+). Exiqon is financed until expected breakeven in 2011.
This announcement contains forward-looking statements regarding Exiqon's potential future development and financial performance and other statements which are not historical facts. Such statements are made on the basis of assumptions and expectations which, to the best of Exiqon's knowledge, are reasonable and well-founded at this time, but which may prove to be erroneous. Exiqon's operations are characterized by the fact that its actual results may deviate significantly from that described herein as anticipated, believed, estimated or expected.
CONTACT: (www.norgenbiotek.com): Contact Dr. Y. Haj-Ahmad, President &
CEO, Email: email@example.com