Nanogen at UBS Warburg Investor Conference: Discusses Progress in Development Of Its Molecular Diagnostics, Biowarfare and Human Identification Programs
Nanogen at UBS Warburg Investor Conference: Discusses Progress in
Development Of Its Molecular Diagnostics, Biowarfare and Human
Identification Programs
SAN DIEGO, Oct 15, 2001 /PRNewswire via COMTEX/ -- Nanogen, Inc. (Nasdaq: NGEN)
announced today its progress in the development of its molecular diagnostics,
biological warfare and human identification programs as highlighted in the
Company's presentation at the UBS Warburg Global Life Sciences Healthcare
Conference, which took place on Friday, October 12, 2001.
Genetic Research and Pathway to Molecular Diagnostics
In the conference, Nanogen discussed the advantages of its core technology and
how the Company believes that it may leverage its technological strengths to
become a leading supplier of analytical devices to the genetic research market
and eventually molecular diagnostic tests to the clinical diagnostic market.
Nanogen stated it is the only company that has a commercial product on the
market, the NanoChip(R) System, that uses electronically enhanced hybridization
of complementary DNA strands.
Nanogen plans to obtain the necessary regulatory approvals to allow its
technology, currently used by research institutions and clinical research
laboratories, to be used in the molecular diagnostics market. In that market,
quality, operational simplicity and cost effectiveness are important adoption
criteria for new technology. Nanogen said that it believes it has met those
criteria in the research setting, and will focus its efforts on demonstrating
the applicability of those advantages to the molecular diagnostics field.
The Company reiterated that in a significant number of research studies to date,
the NanoChip(R) System has achieved 100% accuracy in the detection of SNPs. In
addition, these studies have demonstrated the system's flexibility and speed of
analysis. A customer study has also shown advantages in consumable costs as
compared to a competing technology. Moreover, Nanogen's technology allows
researchers to perform "multiplex" assays (the ability to run assays that
determine the presence or absence of multiple genetic mutations at the same time
and on the same chip). Nanogen is currently developing technology to allow the
on-chip amplification of DNA material directly on the NanoChip(R) cartridge,
which if successful, eliminates a time- consuming preparatory step and folds it
into a single, simplified detection procedure. Nanogen believes these advantages
will make its technology an attractive candidate for the molecular diagnostics
market.
Nanogen has already launched an internally validated research protocol for
Factor V Leiden, seeks to add four other such protocols by the end of the year,
and has other protocols under development. It plans to introduce analyte
specific reagents or ASRs early in 2002 and then work towards obtaining
regulatory clearance or approval for molecular diagnostic tests, including
petitioning for uniquely applicable reimbursement codes.
Biological Warfare and Human Identification Activities
Nanogen has received a number of U.S. government grants to further its
biowarfare and human identification programs. Nanogen has been working on its
biowarfare and human identification programs with U. S. governmental agencies
since 1997. Nanogen has created and delivered to the U.S. Government a prototype
portable field-based detection device and is currently developing additional
devices and assays for detecting biowarfare agents and infectious diseases.
Nanogen is working towards a self-contained portable system where the
amplification and detection of DNA can occur quickly to enable the rapid testing
of potential biowarfare threats. The Company is also using certain government
funding to further develop applications relating to the use of short tandem
repeats (STRs) and single nucleotide polymorphisms (SNPs) for forensics and
other human identification purposes.
Specific current development efforts include three grants from The Defense
Advanced Research Projects Agency to develop an integrated microlaboratory and
assay protocols to analyze simulated biowarfare targets. In addition, Nanogen
has two Dual Use Science and Technology grants administered by the U.S. Army to
develop assays and associated hardware for detecting biowarfare agents and
infectious diseases. Nanogen also has a grant through the National Institute of
Justice for the development of forensic tools relating to the use of STRs and
SNPs. In addition, included in the third quarter placements previously
announced, Nanogen sold a NanoChip(R) System to a government institution that is
interested in developing STR and SNP assays for criminal identification
purposes.
"Nanogen has received over $14.5M in government funding and commitments to
support its biowarfare and human identification efforts. The grants and
investments Nanogen makes in biowarfare helps support our primary goal of
providing advanced solutions for medical diagnostics," said Randy White, Chief
Executive Officer of Nanogen.
Nanogen's goal is to be the leading provider of electronic microarray technology
with the required accuracy, simplicity and flexibility necessary to bridge the
gap between the research and clinical settings. The Company is seeking to
establish the NanoChip(R) System as the standard platform for the detection of
genetic mutations and to develop applications for future clinical use. To date,
the Company has developed and internally validated a research protocol for the
detection of the Factor V Leiden gene mutation associated with cardiovascular
disease. Nanogen markets its NanoChip(R) Molecular Biology Workstation to
scientists and genomics laboratories. The NanoChip(R) System is intended for
research use only and not for use in diagnostic procedures. For additional
information please visit Nanogen's web site at www.nanogen.com.
This press release contains forward-looking statements that are subject to risks
and uncertainties that could cause actual results to differ materially from
those set forth in the forward-looking statements, including whether the
Company's NanoChip(R) System can be successfully further commercialized, whether
products under development can be successfully developed and commercialized,
whetl be obtained, whether the patented inventions can be successfully
incorporated into commercial products, whether Nanogen will be successful in
developing FDA-approved molecular diagnostic tests utilizing the NanoChip(R)
System, and other risks and uncertainties discussed under the caption "Factors
That May Affect Results" and elsewhere in the Company's Form 10-K for the year
ended December 31, 2000, as amended, filed with the Securities and Exchange
Commission. These forward-looking statements speak only as of the date hereof.
The Company disclaims any intent or obligation to update these forward-looking
statements.
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SOURCE Nanogen, Inc.
CONTACT: Gerard A. Wills, Vice President & CFO of Nanogen, Inc.,
+1-858-410-4605; or Tom Baker, Media Relations, Susan E. Atkins & Associates,
+1-858-860-0266, for Nanogen, Inc.
URL: nanogen.com
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