OMAHA, Neb. and METAPONTO, Italy, Feb. 6 /PRNewswire-FirstCall/ -- Transgenomic, Inc. today announced that it has renewed a collaboration with Fiuotecnica S.r.l. of Metaponto, Italy to produce and market a genetic panel assay to predict the risk of cardiovascular disease and heart attacks using Transgenomic's WAVE(R) System. As part of the collaboration, Transgenomic will supply its WAVE System technology and related reagents to Fiuotecnica. Upon completion of the assay development, Fiuotecnica will retain rights to market the cardiovascular panel in Italy, while Transgenomic will obtain rights to market the assay in the rest of the world.
Dr. Antonio Mele, CEO of Fiuotecnica, stated, "We are pleased to be able to reaffirm our collaboration with Transgenomic. Fiuotecnica has evaluated other platforms, but we believe that Transgenomic's unique technology platforms, including the WAVE(R) System for DHPLC analysis and Surveyor(R) Nuclease, provide the highest sensitivity for mutation detection. Our decision to work with Transgenomic as a partner has been affirmed by the Italian Ministry of University and Research, which is supporting this important work. We feel the cardio assay is only the beginning, and we look forward to expanding our collaboration to include other panels in the future."
Transgenomic's CEO, Craig Tuttle, stated, "We are pleased to enter into this strategic collaboration with Fiuotecnica. Fiuotecnica's choice of Transgenomic as a partner to develop this cardio panel provides further validation of our core technologies in the European market, where we have always enjoyed an advantage. Furthermore, we believe the cardio assay for predictive analysis of myocardial infarctions will be an important addition to our Transgenomic Laboratories' CLIA genetic screening offerings to hospitals and clinicians."
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;or Dr. Antonio Mele of Fiuotecnica S.r.l., meleanto1@meleantonio.191.it
Web site: http://www.transgenomic.com//
