OMAHA, Neb., April 12 /PRNewswire-FirstCall/ -- Transgenomic, Inc. (the "Company") announced today that they will provide Spectrumedix instrument service and consumables support in the United States and other areas as well as continue the offering to their Spectrumedix customers in Europe. Transgenomic, the exclusive Spectrumedix systems European distributor since 2003, and Spectrumedix customers were affected by the SpectruMedix LLC decision to discontinue operations after March 9, 2007. Spectrumedix systems are high-throughput Capillary Electrophoresis (CE) instruments ideal for many applications including comparative genome scanning, SNP genotyping, heterozygote identification, fragment sizing, PCR quality testing, and custom assay development. Transgenomic also announced that it has acquired certain assets from the SpectruMedix LLC court-appointed receiver and a license from the gel patent holder necessary to manufacture consumables for Spectrumedix systems. The financial terms of these transactions were not disclosed.
Transgenomic's President and Chief Executive Officer, Craig Tuttle, stated, "We have obviously been concerned about the ongoing issue of consumables and spare parts supply to our European Spectrumedix systems customers. We are pleased to announce this series of transactions which clarifies this situation for Transgenomic and its European customers subject to the limitations of no longer being supported by Spectrumedix itself. Additionally, we intend to service and support other Spectrumedix customers as well, subject again to the same limitations."
About Transgenomic: A decade of discovery 1997 - 2007
Transgenomic is a global biotechnology company that provides unique products and services for automated high sensitivity genetic variation and mutation analysis. Their offerings include systems, products, discovery and laboratory testing services to the academic and medical research, clinical laboratory and pharmaceutical markets in the fields of pharmacogenomics and personalized medicine. Specific offerings include WAVE(R) DHPLC Systems, related consumables and assay kits, cytogenetics automated systems, and Transgenomic Discovery and CLIA Lab 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: 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, or fax, +1-402-452-5461,investorrelations@transgenomic.com
Web site: http://www.transgenomic.com/
