NEW HAVEN, Conn. and CHICAGO, Oct. 21 /PRNewswire-FirstCall/ -- Genaissance Pharmaceuticals, Inc. and Pyxis Genomics, Inc. announced today that the two companies have signed a multi-year agreement, under which Genaissance will provide its high-throughput genotyping services to Pyxis for the commercialization of Pyxis' Profile-1 System. The Profile-1 System consists of Pyxis' proprietary panel of SNPs, a search engine and database, which enables producers to track animals and their meat products from the point of origin throughout the production and distribution pipeline. IBM Life Sciences developed the database and search engine. Genaissance and Pyxis have collaborated to validate the assays and expect to receive the first commercial samples later this quarter. Under the agreement, Pyxis will pay Genaissance a fee for each test that it performs.
"We partnered with Genaissance because of their proven capability and reputation for providing high-quality genotyping services," said Lawrence B. Schook, Chief Operating Officer of Pyxis. "Our goal is to make the Profile-1 System the industry standard for bringing economic and safety benefits to the global meat industry."
"We are delighted to be working with Pyxis," said Gerald F. Vovis, Ph.D., Executive Vice President and Chief Technology Officer of Genaissance. "We believe that this agreement is yet another step in the process of increasing our presence in the Ag genotyping market."
About Pyxis Genomics
Pyxis Genomics Inc. is a privately-held animal genomics company with operations in Chicago, Illinois, and Saskatoon, Saskatchewan. Founded in 1999, Pyxis Genomics is a world leader in maximizing the health and performance of animals through its products, platforms and tools. As a global genomics-based animal health company, Pyxis Genomics discovers, develops and commercializes its own products and services to treat and cure animal diseases, enhance animal fitness, and increase productivity through nutritional intervention. For more information, visit: http://www.pyxisgenomics.com/ .
Genaissance Pharmaceuticals, Inc. is developing innovative products based on its proprietary pharmacogenomic technology and has a revenue-generating business in DNA and pharmacogenomic products and services. The Company's product development strategy is focused on in-licensing drug candidates with promising clinical profiles and finding genetic markers to identify a responsive patient population. This strategy enables Genaissance to leverage existing clinical data and, thus, reduce the costs and risks associated with traditional drug development and increase the probability of clinical success and commercialization. Genaissance intends to use this strategy to build a late-stage, proprietary candidate drug pipeline. The Company's lead product, vilazodone for depression, is in Phase II of development. Genaissance also markets its proprietary FAMILION(TM) Test, designed to detect mutations responsible for causing Familial Long QT and Brugada Syndromes, two causes of sudden cardiac death. For more information on Genaissance, visit our website at: http://www.genaissance.com/ .
This press release contains forward-looking statements, including statements about expectations with respect to the agreement between Genaissance and Pyxis Genomics and development of Genaissance's business. Such statements are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to in such statements, including, but not limited to, the extent to which genetic markers (haplotypes) are predictive of clinical outcomes and drug efficacy and safety, the attraction of new business and strategic partners, the adoption of our technologies by the pharmaceutical industry, the acceptance of our cardiac tests by health care providers, the timing and success of clinical trials, competition from pharmaceutical, biotechnology and diagnostics companies, the strength of our intellectual property rights and those risks identified in our Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 30, 2004, our Quarterly Report on Form 10-Q for the quarter ended June 30, 2004, filed with the Securities and Exchange Commission on August 16, 2004, and in other filings we make with the Securities and Exchange Commission from time to time. The forward-looking statements contained herein represent the judgment of Genaissance as of the date of this release. Genaissance disclaims any obligation to update any forward-looking statement.
Genaissance Pharmaceuticals, Inc.
CONTACT: Gerald F. Vovis, Ph.D., Executive Vice President & ChiefTechnology Officer of Genaissance Pharmaceuticals, Inc., +1-203-786-3423,email@example.com; Rhonda Chiger (investors) of Rx Communications,+1-917-322-2569, rchiger@RxIR.com; Kim Komutanon of Pyxis Genomics, Inc.,+1-312-455-0602, firstname.lastname@example.org