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Biotech / Medical : Ciphergen Biosystems(CIPH): -- Ignore unavailable to you. Want to Upgrade?

To: tuck who wrote (94)	2/10/2003 4:55:05 PM
From: Biomaven	Read Replies (3) \| Respond to of 510

Ciphergen and Biosite Announce Collaboration - Feb 10, 2003 04:42 PM (PR Newswire) - finance.lycos.com =========================================================================== /FROM PR NEWSWIRE LOS ANGELES 213-626-5500/ [STK] BSTE CIPH [IN] BIO MTC HEA [SU] CON TO BUSINESS AND MEDICAL EDITORS: Ciphergen and Biosite Announce Collaboration Principal Goal is Improved Diagnostics Based on Protein Biomarkers FREMONT, Calif., and SAN DIEGO, Feb. 10 /PRNewswire-FirstCall/ -- Ciphergen Biosystems, Inc. (NASDAQ:CIPH) and Biosite Incorporated (NASDAQ:BSTE) announced today they have entered into a collaboration for cardiovascular and other diseases, based upon their respective core competencies, primarily to facilitate the discovery of novel antibody and protein target components that can applied to either company's testing platform for diagnostic assays. Specific financial and other terms of the agreement were not disclosed. Under the collaboration, Biosite will provide clinical samples to address specific clinical questions. Ciphergen's Biomarker Discovery Center(R) scientists plan to use its ProteinChip(R) Biomarker Systems and related technology to discover differentially expressed protein biomarkers that may be useful as diagnostics, or even have therapeutic utility. Ciphergen and Biosite plan to analyze these biomarker targets both individually and as multi-biomarker patterns for enhanced sensitivity and specificity, and for novel diagnostic utility. As appropriate, Biosite would develop Omniclonal(R) antibodies against key biomarkers discovered in this collaboration. If products are successfully developed and commercialized by Ciphergen or Biosite, the other company would receive royalties from products resulting from the joint research efforts. "Key contributions from Biosite include access to clinical samples, rapid antibody production, and considerable experience in developing diagnostic assays, obtaining regulatory approval and marketing," commented William E. Rich, President and CEO of Ciphergen. "We're delighted to be working with Biosite focusing initially on cardiovascular disease, where Biosite has already successfully developed and commercialized the Triage(R) BNP Test and the Triage Cardiac System." We are very pleased to enter into this relationship with Ciphergen, which has proven success in identifying protein targets," said Gunars Valkirs, Ph.D, Vice President, Biosite Discovery. "Ciphergen's ProteinChip technology scans a region of the proteome that hasn't been systematically mined by other technologies and thus has the potential to uncover biologically important biomarkers for us." Unlikely to have much short-term impact, but every little bit helps. Peter