MONTREAL, QUEBEC--(Marketwire - January 16, 2008) - MonoGen, Inc., (“Corporation”) (TSX: MOG) today announced that the study underway at The Johns Hopkins Hospital will not be completed and the Research Use Only (RUO) instrument would be returned. Jim Cureton, MonoGen’s VP of Sales and Marketing commented, “Obviously we had hoped to complete all phases of this study for use with non-gynecological specimens. We appreciate Johns Hopkins’ willingness to undertake this effort, and we understand how the challenges of resource limitations and the regulatory prohibition of using an RUO instrument for the final diagnosis of clinical specimens impacted this evaluation. We look forward to discussing the advantages of the MonoPrep system with them at a later date.”
About MonoGen
With operational headquarters in the United States (Greater Chicago area), MonoGen is a medical diagnostics company developing fully automated devices for anatomic and molecular pathology laboratories. MonoGen’s initial product, the MonoPrep Processor, has been designed to automate processes performed by these laboratories to reduce their costs, increase throughput, and improve the quality and consistency of results.
Forward-Looking Statements
To the extent any statements made in this press release contain information that is not historical; these statements are essentially forward-looking in nature and are subject to risks and uncertainties. Statements preceded by the words believe, expect, anticipate, plan, intend, continue, estimate, may, will, and similar expressions are forward-looking statements.
Forward-looking statements are based on our beliefs and assumptions based on information available at the time the assumption was made. Forward-looking statements relate to, among other things, anticipated financial performance, business prospects, strategies, regulatory developments, new services, market forces, commitments and technological developments, relating to MonoGen USA and us. By its nature, such forward-looking information is subject to various risks and uncertainties which could cause our actual results and experience to differ materially from the anticipated results or other expectations expressed. Those risks and uncertainties include, but are not limited to, our ability to raise additional capital, our ability to execute our business plan while maintaining at all times our various regulatory approvals, the performance of our strategic partners in the commercialization of our products in the marketplace and the competitive response from existing and potential competitors. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this document, and we undertake no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise.
Contacts: MonoGen, Inc. Investor Relations 847-758-4284 847-758-9392 (FAX) investorrelations@monogen.com
