SAN DIEGO and HAMPTON, N.H., Aug. 3 /PRNewswire-FirstCall/ -- Nanogen, Inc. , a developer of advanced diagnostic products, and Fisher Scientific International Inc. announced today that the companies have expanded their relationship to include a research and development collaboration in molecular diagnostics. The collaboration agreement complements Fisher’s equity investment in Nanogen announced in March 2006.
Nanogen and Fisher agreed to share technology and patent rights specifically for the development, manufacture and marketing of new molecular diagnostic products. Under the agreement, Fisher Scientific may provide up to $10 million in total during 2007 and 2008 for the research and development of infectious disease and molecular diagnostic tests that will be mutually agreed upon. The extensive knowledge, intellectual property and capabilities of both companies will enable molecular diagnostic products to be brought to the market more quickly.
Additionally, Nanogen and Athena Diagnostics, a wholly owned subsidiary of Fisher Scientific International, have agreed to develop, manufacture and market products based on Athena’s proprietary biomarkers for research and for in vitro diagnostic use. Athena has an extensive portfolio of unique markers in the fields of neurology and endocrinology that it has successfully incorporated into its testing service, several of which could be incorporated into assays for use on Nanogen’s microarray platform, the NanoChip(R)400. Nanogen likewise has access to a wide range of markers that could be used to create unique tests for the Athena Diagnostics testing service.
“We see tremendous opportunities in molecular diagnostics and are pleased to be expanding our presence in this rapidly growing market,” said Leland Foster, chief science officer for Fisher Scientific International. “By fostering a collaboration between Nanogen and Athena and furthering Nanogen’s R&D efforts, we are advancing the abilities of both companies to bring diagnostic products to the marketplace.”
Howard C. Birndorf, chairman and CEO of Nanogen, added, “We are very pleased to further develop our relationship with Fisher. Both companies share the belief that molecular diagnostics will play a fundamental role in the drive toward personalized healthcare, and we are excited to work together in this endeavor.”
About Nanogen, Inc.
Nanogen’s advanced technologies provide researchers, clinicians and physicians worldwide with improved methods and tools to predict, diagnose, and ultimately help treat disease. The company’s products include real-time PCR reagents, the NanoChip(R) electronic microarray platform and a line of rapid diagnostic tests. Nanogen’s ten years of pioneering research involving nanotechnology holds the promise of miniaturization and continues to be supported for its potential for diagnostic and biodefense applications. For additional information please visit Nanogen’s website at www.nanogen.com.
About Fisher Scientific International Inc.
Fisher Scientific International Inc. is a leading provider of products and services to the scientific community. Fisher facilitates discovery by supplying researchers and clinicians in labs around the world with the tools they need. We serve pharmaceutical and biotech companies; colleges and universities; medical-research institutions; hospitals; reference, quality-control, process-control and R&D labs in various industries; as well as government agencies. From biochemicals, cell-culture media and proprietary RNAi technology to rapid-diagnostic tests, safety products and other consumable supplies, Fisher provides more than 600,000 products and services. This broad offering, combined with Fisher’s globally integrated supply chain and unmatched sales and marketing capabilities, helps make our 350,000 customers more efficient and effective at what they do.
Founded in 1902, Fisher Scientific is a FORTUNE 500 company and is a component of the S&P 500 Index. With approximately 19,500 employees worldwide, the company had revenues of $5.6 billion in 2005. Fisher Scientific is a company committed to delivering on our promises -- to customers, shareholders and employees alike. Additional information about Fisher is available on the company’s Web site at www.fisherscientific.com.
Forward-Looking Statement
This press release contains forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements, including whether the relationship between Nanogen, Fisher and Athena will become a material collaboration, whether patents owned or licensed will be developed into products, whether the patents offer any protection against competitors with competing technologies, whether products under development can be successfully developed and commercialized, whether results reported by customers or partners can be identically replicated, whether the market for molecular diagnostics technologies and products will further develop, and other risks and uncertainties discussed under the caption “Factors That May Affect Results” and elsewhere in Nanogen’s and Fisher Scientific International’s Form 10-K or Form 10-Q most recently filed with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. Nanogen and Fisher Scientific International disclaim any intent or obligation to update these forward-looking statements.
Nanogen, Inc.
CONTACT: Media, Suzanne Clancy, +1-858-410-4688, sclancy@nanogen.com, orInvestors, Robert Saltmarsh, +1-858-410-4600, rsaltmarsh@nanogen.com, bothof Nanogen, Inc.; or Gia L. Oei, +1-603-929-2489, Gia.Oei@fishersci.com, orChet Mehta, +1-603-929-2260, Chet.Mehta@fishersci.com, both of FisherScientific International Inc.
