FREMONT, Calif., July 7 /PRNewswire-FirstCall/ -- WaferGen Biosystems, Inc. , a leading developer of state-of-the-art genetic analysis systems, today announced that data on the company’s SmartChip Real-Time PCR System will be presented at GTCbio’s 3rd Annual Rediscovering Biomarkers Conference. The data will be presented by Kumar Kastury, Ph.D., WaferGen’s vice president, research and technical operations, as part of an oral presentation on Friday, July 10. The conference is being held July 9-10 in San Diego, California.
Details of the oral presentation are as follows:
WaferGen’s SmartChip system is currently the focus of ongoing gene expression research collaborations with scientific teams at the University of Pittsburgh School of Medicine and the University of Texas, Southwestern. These programs are designed to leverage the SmartChip’s innovative capabilities to identify and validate therapeutically-relevant gene expression biomarkers in areas including chronic obstructive pulmonary disease (COPD), idiopathic pulmonary fibrosis (IPF), lung cancer and wound healing. WaferGen believes this research may lead to the discovery of specific genes responsible for causing these diseases and conditions. In turn, this critical genetic information may ultimately provide physicians with new tools for determining accurate disease prognosis in patients, while also potentially providing drug developers with information necessary for the creation of targeted therapeutics. The SmartChip platform is also the focus of a genotyping research collaboration with scientists in the Institute for Genome Sciences and Policy at Duke University Medical Center. The focus of this program is the validation of single-nucleotide polymorphisms (SNPs) that are related to breast cancer, as well as an examination of the impact the validated SNPs have on patients’ disease prognosis and response to treatment.
About the SmartChip Real-Time PCR System
The SmartChip Real-Time PCR System(TM) is designed as the first whole genome, high-throughput gene expression real-time polymerase chain reaction (PCR) platform. WaferGen believes the SmartChip Real-Time PCR System will be the first platform to combine the high-throughput capability and cost efficiencies of existing microarrays, with the sensitivity and accuracy of real-time PCR. This innovative system, combined with next-generation chemistry and optimized assays being developed by WaferGen, promises to provide industry-leading throughput levels, while offering discovery and validation capabilities in a single step. The result is expected to be the ability to conduct gene expression and genotyping research at a fraction of the time and cost currently produced by existing instrument systems. It is estimated that the genetic analysis market alone (comprised of gene expression and genotyping analysis) had approximately $2.4 billion in worldwide revenues in 2006 ($1.74 billion for gene expression and $650 million for genotyping).
About WaferGen
WaferGen Biosystems, Inc. is a leader in the development, manufacture and sale of state-of-the-art systems for genetic analysis for the life science and pharmaceutical industries. The company is actively developing its SmartChip(TM) product for the gene expression and genotyping markets. SmartChip is being developed as the first whole genome, high throughput gene expression real-time PCR platform. This innovative system, combined with next-generation chemistry and optimized assays being developed by WaferGen, promises to deliver significant speed and cost advantages to researchers in the gene expression and genotyping markets. Based on collaborations established with leading research institutions, WaferGen believes that the SmartChip Real-Time PCR System is positioned as the platform of choice for biomarker discovery and validation. WaferGen currently markets its SmartSlide(TM) family of products to companies and organizations involved in stem cell and cell biology research. SmartSlide represents the first fluidics integrated micro-incubators enabling cell biology and stem cell research.
Forward-Looking Statements
This press release contains certain “forward-looking statements”. Such statements include statements relating to the recent strengthening of the leadership team of the company and other statements relating to future events or to the company’s future financial performance and are not historical facts, including statements which may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words.
Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the control of the company. Actual results may differ materially from the expectations contained in the forward-looking statements. Factors that may cause such differences include the risks that: (i) the company may be unsuccessful in commercially developing its products or in achieving market acceptance of new and relatively unproven technologies; (ii) the company will need to raise additional capital to meet its business requirements in the future and the company may not be able to do so on reasonable terms or at all; (iii) the company’s proprietary intellectual property rights may not adequately protect its products and technologies; and (iv) the company expects intense competition in its target markets, including from companies that have much greater resources than the company, and there can be no assurance that the company will be able to compete effectively. More detailed information about the company and the risk factors that may affect the realization of forward-looking statements is set forth in the company’s filings with the Securities and Exchange Commission, including the company’s Annual Report on Form 10-K for the year ended December 31, 2008 and the company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2009. Investors and security holders are urged to read this document free of charge on the SEC’s web site at www.sec.gov. The company does not undertake to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.
CONTACT: Tim Brons of Vida Communication, +1-415-675-7400,
tbrons@vidacommunication.com, for WaferGen
Web site: http://www.wafergen.com/
