SOONER THAN I THOUGHT....:
Visible Genetics and Roche Diagnostics K.K. Enter Distribution and Marketing Agreement for VGI Products in Japan
PR Newswire - May 25, 1999 07:14
TORONTO, May 25 /PRNewswire/ -- Visible Genetics Inc. (VGI) (Nasdaq: VGIN) and Roche Diagnostics K.K. (RDKK) have entered into an agreement whereby RDKK will be the exclusive distributor in Japan of VGI's GeneKits(TM), including HIV-1, Hepatitis C, and TB TruGene(TM) assays, and the distributor of their OpenGene(TM) automated DNA sequencing systems in the diagnostic market.
"We're looking forward to establishing a long-term partnership with Roche Diagnostics K.K. and we see this agreement as an important milestone in making our technology accessible on a worldwide basis," commented Arthur Cole, Executive Vice President of VGI. "As a strategic business objective in major geographic markets, we feel it is important to align ourselves with the industry leader in the molecular diagnostics market, which in Japan is clearly Roche. Roche has captured, in particular, the critical areas of HCV and TB testing using their polymerase chain reaction technology and our technology will be able to complement Roche's existing portfolio and enable them to offer a more comprehensive palate of options for their molecular diagnostic customers," he added.
Contracted through blood transfusions, contaminated needles and sexual contact, HCV is a growing threat in Japan, where more than 2.5 million Japanese suffer from this blood-borne viral infection. RDKK has marketing clearance from the Japan Ministry of Health for the Roche AMPLICOR(TM) HCV test and Version 2.0 AMPLICOR HCV MONITOR(TM) Test (a Test for the accurate quantification of a patient's HCV viral load). In addition, Roche also markets the AMPLICOR(TM) Mycobacteria test that has the ability to detect the three major cases of mycobacterial infection: M. tuberculosis, M. avium and M. intracellulare. Tuberculosis, a highly variable, communicable disease, once considered to be removed as a major health problem is now in resurgence with new strains resistant to conventional therapy. More than 50,000 cases of tuberculosis were reported by the World Health Organization in 1998 in Japan.
Visible Genetics Inc. manufactures and markets high performance automated DNA sequencing systems and complete kits for the analysis of genes linked to disease. The Company's OpenGene(TM) system employs proprietary stratified DNA testing and single-tube, single-step sequencing methods to significantly reduce the time and cost involved in identifying clinically relevant genetic information. VGI is a leader in the emerging field of pharmacogenomics, which will use genetic information in the identification, and analysis of genes in order to improve patient care and reduce healthcare costs.
Roche Diagnostics K.K., with headquarters in Tokyo, is working to make the most of the health care products and technologies of the international Roche group of companies while further strengthening its base of operations in Japan. Building on this base, the Company hopes to increase its contribution to Japanese society and to the world.
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