AUSTIN, Texas, Feb. 28 /PRNewswire-FirstCall/ -- Luminex Corporation , a leading multiplex solution developer, has signed a licensing agreement with the Massachusetts Institute of Technology (MIT) for non- exclusive intellectual property rights necessary to develop and commercialize microRNA assays and related products. MicroRNAs are a group of small non- coding single stranded portions of RNA molecules that have been implicated as playing a critical role as regulators of developmental timing, neuronal differentiation, cell proliferation, programmed cell death and fat metabolism. The rights and potential applications cover both the life science research and clinical diagnostics markets.
The intellectual property was developed through a scientific collaboration of three eminent research institutions: Howard Hughes Medical Institute, Dana - Farber Cancer Institute and The Eli and Edythe L. Broad Institute, a Collaboration of MIT, Harvard University, and affiliated Hospitals, and Whitehead Institute for Biomedical Research (the “Broad Institute”).
Patrick Balthrop, president and chief executive officer of Luminex Corporation, stated, “The researchers at the Broad Institute published what many consider to be landmark research in Nature last year demonstrating the importance of microRNA as it relates to gene and protein expression. This agreement with MIT is an important milestone for Luminex in the commercialization of microRNA assay products. We believe the emerging microRNA field represents a promising new space with significant commercial potential. Moreover, our xMAP(R) technology is well suited to the mid-level multiplexing requirements of microRNA applications. This further strengthens Luminex’s role in the development of advanced, multiplexed products and solutions for the life sciences marketplace.”
MicroRNA Study
In the June 9, 2005, edition of the prestigious science journal, Nature, the article titled “MicroRNA study opens potential revolution in cancer diagnosis,” reports on two important breakthroughs: (1) a surprisingly accurate correlation of the 217 known human microRNAs with the development and differentiation of tumors, and (2) the development of a technology that not only enabled this exciting discovery but that could be the basis for an easy and inexpensive diagnostic test. Although a preliminary study, its validation could have significant impact on the clinical diagnosis of cancer.
The article describes the correlation of microRNA, a recently discovered form of RNA, in the expression of proteins by genes. Cells convert DNA into messenger RNA (mRNA) and then into protein. There are many known mechanisms for regulating the conversion of DNA into mRNA, a process called gene expression. However, scientists have been puzzled with the mechanisms that translate mRNA into protein. The Nature article demonstrates that these newfound microRNAs play a key role in regulating this translation process.
About Luminex Corporation
Luminex Corporation develops, manufactures and markets proprietary biological testing technologies with applications throughout the life sciences industry. The Company’s xMAP(R) system is an open-architecture, multi-analyte technology platform that delivers fast, accurate and cost-effective bioassay results to markets as diverse as pharmaceutical drug discovery, clinical diagnostics and biomedical research, including the genomics and proteomics research markets. The Company’s xMAP technology is sold worldwide and is already in use in leading research laboratories as well as major pharmaceutical, diagnostic and biotechnology companies. Luminex’s xMAP technology received the 2005 Clinical Diagnostics Technology of the Year Award from Frost & Sullivan. Further information on Luminex Corporation or xMAP can be obtained on the Internet at www.luminexcorp.com.
Statements made in this release that express Luminex’s or management’s intentions, plans, beliefs, expectations or predictions of future events are forward-looking statements. The words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “will,” “could,” “should” and similar expressions are intended to further identify such forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. It is important to note that the Company’s actual results or performance could differ materially from those anticipated or projected in such forward-looking statements. Factors that could cause Luminex’s actual results or performance to differ materially include risks and uncertainties relating to, among others, market demand and acceptance of Luminex’s products, the Company’s dependence on strategic partners for development, commercialization and distribution of products, fluctuations in quarterly results due to a lengthy and unpredictable sales cycle, Luminex’s ability to scale manufacturing operations, potential shortages of components, competition, the timing of regulatory approvals and any modification of the Company’s operating plan in response to its ongoing evaluation of its business, as well as the risks discussed under the heading “Risk Factors” in Luminex’s Annual Report on Form 10-K for the year ended December 31, 2004, as filed with the Securities and Exchange Commission. The forward-looking statements contained herein represent the judgment of Luminex as of the date of this press release, and Luminex expressly disclaims any intent, obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in Luminex’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.
Luminex Contacts: Luminex Corporate Contact: Luminex Media Contact: Harriss T. Currie Sandra G. Oak Vice President, Finance Nsight Public Relations Chief Financial Officer 321.591.1508 512.219.8020 soakpr@earthlink.nethcurrie@luminexcorp.com
Luminex Corporation
CONTACT: Corporate, Harriss T. Currie, Vice President, Finance, ChiefFinancial Officer, +1-512-219-8020, or hcurrie@luminexcorp.com; or Media,Sandra G. Oak of Nsight Public Relations, +1-321-591-1508, orsoakpr@earthlink.net, for Luminex
Web site: http://www.luminexcorp.com//
