Ventana's Discovery System to Include
Genicon's High-Sensitivity Detection Kit for Nucleic Acid Microarrays
TUCSON, Ariz., and SAN DIEGO, Jan. 9 /PRNewswire/ -- Ventana Medical
Systems, Inc. (Nasdaq: VMSI), the leading company in supplying automated
instrument-reagent systems to histology labs, and Genicon Sciences
Corporation, a privately held San Diego-based company, today announced that
they have signed a co-development and marketing agreement. Under the
agreement, the two companies will jointly integrate Genicon Sciences'
ultra-sensitive, RLS Technology(TM) with Ventana's Discovery instrument for
automated microarrays and signal generation. The resulting products will
assist genomics researchers in conducting experiments on a complete reagent
and instrument system that will enable new genomic information discovery in a
more reproducible and reliable fashion. Ventana has the right to exclusively
market certain of the ultra-sensitive signal generation products developed
under the agreement. The companies plan to launch a fully automated Genicon
RLS Technology(TM) detection kit on the Discovery in late 2001. Financial
terms of the agreement were not disclosed.
Ventana formally launched its Discovery system in the North American
market during IBC's recent annual biochip technologies conference, "Chips to
Hits." The Discovery system is designed to meet the increasing need for
in-situ hybridization (ISH) automation in the early phases of drug target and
new compound discovery.
"The nucleic acid microarray market is expanding rapidly as biotech and
pharmaceutical companies race to identify gene function and new drug targets,"
said Christopher Gleeson, Ventana's president and chief executive officer.
"This has resulted in a huge increase in slide volume in the laboratories and
a pressing need for automation."
Hany Massarany, general manager of Ventana's recently formed Molecular
Discovery Systems Business, commented, "The Discovery provides high-throughput
automation for a key step in processing microarrays-hybridizing samples onto
the array itself. However, currently available fluorescent-detection
chemistries are not amenable to identifying subtle differences in gene
expression. Genicon's RLS Technology(TM) offers drug discovery labs a far
more sensitive detection system to pick up low-expressing genes that are
missed by current detection applications."
"Joining RLS Technology(TM) with the Discovery system will offer value to
genomic researchers interested in procuring the most sensitive genomic
microarray information on a reproducible, high-throughput system," commented
Patrick J. Mallon, Genicon's president and chief executive officer. "This
type of alliance underscores our business model of leveraging RLS
Technology(TM) to empower proprietary commercial technologies, including
instrumentation, pre-spotted genomic content and other molecular tools in the
genomics market, as well as broader applications in the research, drug
development and clinical diagnostic markets. We are very pleased to work with
Ventana and believe their resource commitment to the genomics and drug
discovery markets will facilitate rapid market penetration when an RLS (TM)
product for Discovery is launched in late 2001."
Massarany added, "We are very excited about the market potential for
Genicon's technology on the Discovery in the microarray market as this is a
significant enhancement to manual and automated product offerings. Our
experience to date in the drug discovery market has shown that there is a
strong appetite for automation and the Discovery is regarded as the premier
hardware platform. We will have a distinct advantage in both speed and
sensitivity over other systems that are on the market."
Ventana and Genicon also announced that their collaboration extends to ISH
and IHC staining of tissue. The companies said they plan to evaluate the
sensitivity of RLS(R)-based detection chemistry in measuring mRNA expression
levels in tissue. The companies believe the large pharmaceutical companies
and biotech companies will be the initial customers for the collaboration's
systems.
Statements in this press release which are not strictly historical are
"forward-looking" statements that are made pursuant to the Safe Harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements involve known and unknown risks, which may cause
the company's actual results in the future to differ materially from the
expected results. The risks and uncertainties that may affect the results of
the company's business may include general economic conditions, market
acceptance of new automated histology products, continued success in asset
management and other factors that are described in the company's specific
filings with the Securities and Exchange Commission.
Ventana develops, manufactures and markets instrument/reagent systems that
automate tissue preparation and slide staining in clinical histology and drug
discovery laboratories worldwide. Ventana's clinical systems are important
tools used in the diagnosis and treatment of cancer and infectious diseases.
Ventana's drug discovery systems are used to accelerate the discovery of new
drug targets and evaluate the safety of new drug compounds.
Genicon Sciences(TM) has a proprietary signal generation and detection
system that utilizes resonance light scattering technology -- RLS
Technology(TM) -- to meet the needs of scientists and companies working on
microarrays, biochips, genomics, proteomics, combinatorial chemistry and high
throughput screening (HTS). RLS Technology(TM) is more accurate, more
sensitive, more specific, easier to use and less expensive than any
alternative. The company has a comprehensive yet diversified marketing
strategy that allows "open access" to its technology and products, which will
enable emerging genomic, pharmacogenomic and proteomic businesses as well as
facilitate the development of new treatment-linked diagnostics.
For more information on Ventana Medical Systems, Inc. via facsimile at no
additional cost, simply dial 1-800-PRO-INFO and enter the stock symbol "VMSI."
Or visit the Ventana Medical Systems, Inc. website at http://www.ventanamed.com .
The Molecular Discovery Systems Division has its own website at
http://www.ventanadiscovery.com .
SOURCE Ventana Medical Systems, Inc.
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Related links:
http://www.ventanamed.com
CONTACT:
Patrick Mallon, President and Chief Executive
Officer, or Marisa Spanias, Director - Corporate Communication,
both of Genicon Sciences Corporation, 858-793-0276 ext. 104, or
Christopher Gleeson, President and Chief Executive Officer of
Ventana Medical Systems, Inc., 520-887-2155, or Analysts, Kathy
Brunson, 312-640-6696, General, Marilyn Windsor, 312-640-6692, or
Media, Cindy Martin, 312-266-7800, all of The Financial Relations
Board
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