TORONTO, Dec. 8 /PRNewswire-FirstCall/ - Tm Bioscience Corporation , a leader in the commercial genetic testing market, today announced that it ranked Number 60 on the 2005 Deloitte Technology Fast 500, a ranking of the 500 fastest growing technology companies in North America. Rankings are based on percentage revenue growth over five years, from 2000-2004.
“Our growth rate is directly attributable to our solid U.S. customer base, our rapidly expanding product menu and the increasing value of the innovative products we are commercializing,” said Greg Hines, President and CEO of Tm Bioscience. “Molecular diagnostics represent the most significant growth opportunity within the more than $30 billion diagnostics market and Tm has established a leading position in this market segment with our menu of genetic tests.”
“Attracting enough customers to attain such fast growth over five years makes a strong statement about the quality of a company’s products and its leadership,” said Tony Kern, deputy national managing principal of Deloitte’s Technology, Media & Telecommunications industry practice. “Tm Bioscience has shown the right stuff for growth.”
Overall, companies that ranked on the 2005 Technology Fast 500 had growth rates ranging from 240 to 73,752 percent over five years, with an average growth rate of 2,408 percent.
Fast 500 Selection and Qualifications
The Fast 500 list is compiled from Deloitte’s 15 regional North American Fast 50 lists, nominations submitted directly to the Fast 500, and public company database research. To qualify for the Fast 500, entrants must have had 2000 operating revenues of at least $50,000 USD or $75,000 CD for the United States and Canada, respectively, and 2004 operating revenues of at least $1 million USD or CD.
Entrants must be headquartered in North America and must be a “technology company,” defined as a company that owns proprietary technology that contributes to a significant portion of the company’s operating revenues; or devotes a significant proportion of revenues to the research and development of technology. Using other companies’ technology in a unique way does not qualify.
About Tag-It(TM) reagents and genetic tests
Tm Bioscience’s product menu is focused in the fields of human genetic disorders, pharmacogenetics and infectious disease. The Company has commercialized Analyte Specific Reagents(x) and a series of Tag-It(TM) tests(xx) for a variety of genetic disorders. The Company’s Tag-It(TM) Cystic Fibrosis (CF) Kit is the first multiplexed human disease genotyping test to be cleared by the U.S. Food and Drug Administration (FDA) as an in vitro device (IVD) for diagnostic use in the United States. All genetic tests from Tm Bioscience are based on the Tag-It(TM) Universal Array platform, which utilizes a proprietary universal tag system that allows for easy optimization, product development and expansion. Assays from Tm operate on the Luminex xMAP(R) system, a well-established bead based instrument. Combined, the Universal Array and Luminex instrument enable the rapid production of flexible, high-throughput, low-cost DNA-based tests.
(x) Analyte Specific Reagent. Analytical and performance characteristics are not established. (xx) For Investigational Use Only. The performance characteristics of these products have not been established. About Tm Bioscience - Putting the Human Genome to Work(TM)
Tm Bioscience is a DNA-based diagnostics company developing a suite of genetic tests. Tm Bioscience’s product pipeline includes tests for genetic disorders, drug metabolism, and infectious diseases. Tm Bioscience is located in Toronto, Ontario. Additional information about Tm Bioscience can be found at www.tmbioscience.com.
About Deloitte
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Deloitte & Touche USA LLP is the US member firm of Deloitte Touche Tohmatsu. In the US, services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP, Deloitte Tax LLP and their subsidiaries), and not by Deloitte & Touche USA LLP.
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Tm Bioscience
CONTACT: INVESTOR RELATIONS CONTACTS: Tm Bioscience - Canada, James Smith,The Equicom Group, Tel.: (416) 815-0700, Email: jsmith@equicomgroup.com; TmBioscience - U.S., Sharon Weinstein, Euro RSCG Life NRP, Tel.: (212)845-4271, Email: sharon.weinstein@eurorscg.com; To request a free copy ofthis organization’s annual report, please go to http://www.newswire.ca andclick on Tools for Investors.