Nanogen and Fisher Scientific Expand Molecular Diagnostics R&D Collaboration Agreement
03 August 2006 - 3:00PM
PR Newswire (US)
SAN DIEGO and HAMPTON, N.H., Aug. 3 /PRNewswire-FirstCall/ --
Nanogen, Inc. (NASDAQ:NGEN), a developer of advanced diagnostic
products, and Fisher Scientific International Inc. (NYSE:FSH)
announced today that the companies have expanded their relationship
to include a research and development collaboration in molecular
diagnostics. The collaboration agreement complements Fisher's
equity investment in Nanogen announced in March 2006. Nanogen and
Fisher agreed to share technology and patent rights specifically
for the development, manufacture and marketing of new molecular
diagnostic products. Under the agreement, Fisher Scientific may
provide up to $10 million in total during 2007 and 2008 for the
research and development of infectious disease and molecular
diagnostic tests that will be mutually agreed upon. The extensive
knowledge, intellectual property and capabilities of both companies
will enable molecular diagnostic products to be brought to the
market more quickly. Additionally, Nanogen and Athena Diagnostics,
a wholly owned subsidiary of Fisher Scientific International, have
agreed to develop, manufacture and market products based on
Athena's proprietary biomarkers for research and for in vitro
diagnostic use. Athena has an extensive portfolio of unique markers
in the fields of neurology and endocrinology that it has
successfully incorporated into its testing service, several of
which could be incorporated into assays for use on Nanogen's
microarray platform, the NanoChip(R)400. Nanogen likewise has
access to a wide range of markers that could be used to create
unique tests for the Athena Diagnostics testing service. "We see
tremendous opportunities in molecular diagnostics and are pleased
to be expanding our presence in this rapidly growing market," said
Leland Foster, chief science officer for Fisher Scientific
International. "By fostering a collaboration between Nanogen and
Athena and furthering Nanogen's R&D efforts, we are advancing
the abilities of both companies to bring diagnostic products to the
marketplace." Howard C. Birndorf, chairman and CEO of Nanogen,
added, "We are very pleased to further develop our relationship
with Fisher. Both companies share the belief that molecular
diagnostics will play a fundamental role in the drive toward
personalized healthcare, and we are excited to work together in
this endeavor." About Nanogen, Inc. Nanogen's advanced technologies
provide researchers, clinicians and physicians worldwide with
improved methods and tools to predict, diagnose, and ultimately
help treat disease. The company's products include real-time PCR
reagents, the NanoChip(R) electronic microarray platform and a line
of rapid diagnostic tests. Nanogen's ten years of pioneering
research involving nanotechnology holds the promise of
miniaturization and continues to be supported for its potential for
diagnostic and biodefense applications. For additional information
please visit Nanogen's website at http://www.nanogen.com/. About
Fisher Scientific International Inc. Fisher Scientific
International Inc. (NYSE:FSH) is a leading provider of products and
services to the scientific community. Fisher facilitates discovery
by supplying researchers and clinicians in labs around the world
with the tools they need. We serve pharmaceutical and biotech
companies; colleges and universities; medical-research
institutions; hospitals; reference, quality-control,
process-control and R&D labs in various industries; as well as
government agencies. From biochemicals, cell-culture media and
proprietary RNAi technology to rapid-diagnostic tests, safety
products and other consumable supplies, Fisher provides more than
600,000 products and services. This broad offering, combined with
Fisher's globally integrated supply chain and unmatched sales and
marketing capabilities, helps make our 350,000 customers more
efficient and effective at what they do. Founded in 1902, Fisher
Scientific is a FORTUNE 500 company and is a component of the
S&P 500 Index. With approximately 19,500 employees worldwide,
the company had revenues of $5.6 billion in 2005. Fisher Scientific
is a company committed to delivering on our promises -- to
customers, shareholders and employees alike. Additional information
about Fisher is available on the company's Web site at
http://www.fisherscientific.com/. Forward-Looking Statement 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 relationship between Nanogen,
Fisher and Athena will become a material collaboration, whether
patents owned or licensed will be developed into products, whether
the patents offer any protection against competitors with competing
technologies, whether products under development can be
successfully developed and commercialized, whether results reported
by customers or partners can be identically replicated, whether the
market for molecular diagnostics technologies and products will
further develop, and other risks and uncertainties discussed under
the caption "Factors That May Affect Results" and elsewhere in
Nanogen's and Fisher Scientific International's Form 10-K or Form
10-Q most recently filed with the Securities and Exchange
Commission. These forward-looking statements speak only as of the
date hereof. Nanogen and Fisher Scientific International disclaim
any intent or obligation to update these forward-looking
statements. DATASOURCE: Nanogen, Inc. CONTACT: Media, Suzanne
Clancy, +1-858-410-4688, , or Investors, Robert Saltmarsh,
+1-858-410-4600, , both of Nanogen, Inc.; or Gia L. Oei,
+1-603-929-2489, , or Chet Mehta, +1-603-929-2260, , both of Fisher
Scientific International Inc. Web site: http://www.nanogen.com/
http://www.fisherscientific.com/
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