Clarient, Inc. Enters Agreement With Eli Lilly and Company
SAN JUAN CAPISTRANO, Calif., Nov. 22 /PRNewswire-FirstCall/ -- Clarient, Inc. a premier technology and services resource for pathologists, oncologists and the pharmaceutical industry, announced today that it has entered into an agreement with pharmaceutical leader Eli Lilly and Company. Clarient's BioPharma business unit will provide various biopharmaceutical research services.
"We look forward to supporting Lilly with our scientific expertise utilizing advanced technology platforms to provide a solution for the development of companion diagnostics for emerging therapies," said Clarient's Medical Director, Kenneth J. Bloom, M.D.
Clarient's President and CEO Ron Andrews said, "The Company's strategy in the biopharmaceutical sector involves providing fee-based services and technologies to those companies engaged in the drug discovery process. The revenue provided by those relationships is complemented by additional opportunities for growth in the future as companion diagnostics are developed, based on Clarient technologies, for new cancer drugs."
About Clarient Inc.
Clarient provides market leading technologies, services and expert support for the characterization, assessment and treatment of cancer, leading to more accurate diagnoses by pathologists, more confident treatment decisions by oncologists, a more efficient way to identify and develop pharmaceuticals and, ultimately, better outcomes for patients. A majority-owned subsidiary of Safeguard Scientifics, Inc., Clarient was formed in 1996 to develop and market the Automated Cellular Imaging System (ACIS). This digital imaging and assessment system allowed pathologists, for the first time, to obtain potentially more reliable, reproducible quantitative results for a broad range of slide-based diagnostic tests. In 2005, the ACIS and other leading diagnostic technologies such as flow cytometry and genetic testing were brought in-house to a state-of-the-art diagnostic laboratory and surrounded by a team of premiere cancer specialists, forming the Clarient Diagnostic Services business. This facility and the Clarient team support the efforts of pathologists and the biopharmaceutical industry as a central resource for cancer diagnostics, disease interpretation, remote pathology, and contract research operations.
Clarient's mission is to provide critical information to clinicians that will improve the quality and reduce the cost of patient care, and speed drug discovery. Many of the top clinical laboratories, hospitals, university medical centers and biopharmaceutical companies in the United States and Europe are currently using Clarient technology and services. Clarient and ACIS are registered trademarks of Clarient. For more information, visit www.clarientinc.com.
Safeguard Scientifics, Inc. is a company advancing the value of revenue-stage information technology and life sciences companies. Safeguard provides growth capital as well as a range of strategic, operating and management resources to help its partner companies build value in their businesses. Safeguard participates in expansion financings, management buyouts, recapitalizations, industry consolidations and early-stage financings. For more information about Safeguard, visit www.safeguard.com.
The statements herein regarding Clarient, Inc. contain forward-looking statements that involve risks and uncertainty. Future events and the Company's actual results could differ materially from the results reflected in these forward-looking statements. Factors that might cause such a difference include, but are not limited to the Company's ability to obtain additional financing on acceptable terms or at all, the Company's ability to continue to develop and expand its instrument systems business and its diagnostic laboratory services business, the Company's ability to successfully generate revenue through services provided by the Company's BioPharma business unit and to develop related companion diagnostics for new cancer drugs, the Company's ability to successfully move and consolidate the Company's two operating facilities into one new facility, the performance and acceptance of the Company's system in the market place, the success of the Company's development and distribution arrangement with DAKO Cytomation, the Company's ability to expand and maintain a successful sales and marketing organization, continuation of favorable third party payer reimbursement for tests performed using the Company's system, unanticipated expenses or liabilities or other adverse events affecting cash flow, uncertainty of success in developing any new software applications, failure to obtain FDA clearance or approval for particular applications, the Company's ability to compete with other technologies and with emerging competitors in cell imaging and dependence on third parties for collaboration in developing new tests and in distributing the Company's systems and tests performed on the system, and risks detailed from time to time in the Company's SEC reports, including quarterly reports on Form 10-Q, reports on Form 8-K and annual reports on Form 10-K. Recent experience with respect to instrument placements, new contracts for placements, revenues and results of operations may not be indicative of future results for the reasons set forth above.
The company does not assume any obligation to update any forward-looking statements or other information contained in this document.
Contact: Roberta L. Smigel Clarient, Inc. (949) 276.0110Clarient, Inc.
CONTACT: Roberta L. Smigel of Clarient, Inc., +1-949-276-0110