SANTA CLARA, Calif., Sept. 25 /PRNewswire/ -- Affymetrix, Inc. (Nasdaq: AFFX) (http://www.affymetrix.com) and the Parke-Davis division of the Warner-Lambert Company (NYSE: WLA) announced today that they have entered into an agreement under which Parke-Davis will gain access to Affymetrix' GeneChip(R) arrays to monitor gene expression.
Under the terms of the agreement, Affymetrix will supply Parke-Davis with GeneChip instrumentation, software and custom and standard DNA probe arrays. The custom DNA arrays will contain genes selected by Parke-Davis to monitor specific gene expression levels for use in Parke-Davis' pharmaceutical research and development activities. The standard DNA probe arrays will include certain human expression chips that are made commercially available by Affymetrix. In exchange for supplying Parke-Davis with its GeneChip technology, Affymetrix will receive undisclosed access and design fees and per chip payments.
Dr. Leonard Post, Vice President, Discovery Research, at Parke-Davis commented on the GeneChip agreement: "Scientists here at Parke-Davis are convinced that high volume analysis of gene expression will be an important component of programs at various stages -- from exploratory research, through drug discovery, and into the drug development process. We are looking forward to incorporating the Affymetrix technology into our projects."
"We are delighted that Parke-Davis has selected the Affymetrix GeneChip technology for use in its research and development activities," stated Dr. Stephen P.A. Fodor, President and Chief Executive Officer of Affymetrix. "As with our other customers, we hope that Parke-Davis' experience with our technology under this initial agreement will lead to broader adoption and utilization of the technology at Parke-Davis," added Fodor.
Parke-Davis, a division of Warner-Lambert Company, is devoted to discovering, developing, manufacturing and marketing quality pharmaceutical products. Its central research focus is on heart disease, diabetes, anti-infectives, central nervous system, and women's healthcare. Major pharmaceutical research centers are located in Ann Arbor, Michigan; Cambridge, England; Freiburg, Germany and Fresnes, France. Warner-Lambert is a worldwide company employing approximately 40,000 people, and along with Parke-Davis is headquartered in Morris Plains, N.J.
Affymetrix, Inc. has developed and intends to establish its GeneChip system as the platform of choice for acquiring, analyzing and managing complex genetic information in order to improve the diagnosis, monitoring and treatment of disease. The Company's GeneChip system consists of disposable DNA probe arrays containing gene sequences on a chip, instruments to process the probe arrays, and software to analyze and manage genetic information.
All statements in this press release that are not historical are forward-looking statements. Such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including, but not limited to, uncertainties relating to technological approaches, product development, manufacturing and market acceptance, uncertainties related to cost and pricing of the Company's product, dependence on collaborative partners, uncertainties relating to sole source suppliers, uncertainties relating to FDA and other regulatory approvals, competition, risks relating to intellectual property of others and the uncertainties of patent protection. These and other risk factors are discussed in the annual report and in the report filed with the Securities and Exchange Commission on Form 10-K for the year ended December 31, 1996 and on Form 10-Q for the quarter ended June 30, 1997 as filed on August 14, 1997. These forward looking statements speak only as of the date hereof. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto or any change in the Company's expectations with regard thereto or any change in events, conditions, or circumstances on which any such statements are based.
SOURCE Affymetrix Inc.
CO: Affymetrix Inc.; Parke-Davis
ST: California
IN: MTC CPR
SU:
09/25/97 08:07 EDT prnewswire.com |
