OMAHA, Neb., April 10 /PRNewswire-FirstCall/ -- Transgenomic, Inc. (the “Company”) today announced that the Company previously signed a contract with OSI Pharmaceuticals, Inc. to complete an analysis of specific cancer pathway genes. The Company has developed a high throughput, high sensitivity methodology for characterizing genetic variants implicated in malignant neoplasia. Through the development and use of high throughput genome scanning with proprietary endonucleases, forward and reverse Sanger sequencing, and unparalleled variant annotation, Transgenomic is unmatched in its reliability to detect pathogenic genetic mutations. In making the announcement, Transgenomic’s President and Chief Executive Officer, Craig Tuttle, stated, “The contract with OSI Pharmaceuticals enables Transgenomic to utilize its highly developed expertise in genetic variant detection to assist OSI Pharmaceuticals, Inc. in its development efforts. This contract follows genetic analysis work done with other pharmaceutical companies. It is one of the ways Transgenomic can contribute to the development of therapeutics that benefits patients.” Transgenomic has unique proprietary expertise that enables highly sensitive detection of cancer causing genetic mutations making it one of the leading laboratories in the country for this service.
About Transgenomic: A decade of discovery 1997 - 2007
Transgenomic is a global biotechnology company that provides unique systems, products, discovery and laboratory testing services to the academic and medical research, clinical and pharmaceutical markets for automated high sensitivity genetic variation and mutation analysis in the fields of pharmacogenomics and personalized medicine. This is accomplished through their offerings of WAVE(R) DHPLC Systems, reagents, consumables and assay kits, automated cytogenetics systems and Transgenomic Discovery and CLIA Lab Services. To date there have been over 1,200 WAVE Systems installed in over 600 customer sites in over 35 countries and approximately 1,500 publications utilizing Transgenomic products or services. Transgenomic Discovery and Lab Services utilize their technology and expertise to provide a menu of mutation scanning tests for over 700 cancer-associated genes and more than 60 validated diagnostic tests to meet the needs of pharmaceutical and biotech companies, research and clinical laboratories, physicians and patients. For more information about the innovative systems, products and services offered by Transgenomic, please visit: http://www.transgenomic.com.
Transgenomic Cautionary Statements
Certain statements in this press release constitute “forward-looking statements” of Transgenomic within the meaning of the Private Securities Litigation Reform Act of 1995, which involve known and unknown risks, uncertainties and other factors that may cause our actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Forward-looking statements include, but are not limited to, those with respect to management’s current views and estimates of future economic circumstances, industry conditions, company performance and financial results, including the ability of the Company to grow its involvement in the diagnostic products and services markets. The known risks, uncertainties and other factors affecting these forward-looking statements are described from time to time in Transgenomic’s reports to the Securities and Exchange Commission. Any change in such factors, risks and uncertainties may cause the actual results, events and performance to differ materially from those referred to in such statements. Accordingly, the company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 with respect to all statements contained in this press release. All information in this press release is as of the date of the release and Transgenomic does not undertake any duty to update this information, including any forward-looking statements, unless required by law.
Transgenomic, Inc.
CONTACT: Debra Schneider, Chief Financial Officer of Transgenomic, Inc.,+1-402-452-5400, Fax, +1-402-452-5461, investorrelations@transgenomic.com
Web site: http://www.transgenomic.com/
