RESEARCH TRIANGLE PARK, N.C., March 26 /PRNewswire-FirstCall/ --
Paradigm Genetics, Inc. (Nasdaq: PDGM) today announced the launch of a
gene expression microarray services business. This new business builds on the
company's expertise in DNA microarray processing and data analysis, which was
validated last fall with the signing of a $23.8 million toxicogenomics
contract with the National Institute of Environmental Health Sciences. For
that contract, Paradigm will process thousands of DNA microarrays through its
gene expression profiling platform.
To support the start-up of its microarray services business, Paradigm also
announced today that it had entered into a co-marketing agreement with Agilent
Technologies. Under the terms of the agreement, Paradigm will be a preferred
service provider for Agilent's DNA microarray products. Agilent's sales force
will provide referrals to Paradigm of its gene expression customers interested
in outsourcing their microarray research.
"This microarray services business is a natural outgrowth of our expertise
in gene-expression profiling, evidenced by our work for NIEHS," said Heinrich
Gugger, Ph.D., president and CEO of Paradigm Genetics. "We're already
providing microarray services for the federal government, and it's the logical
next step to extend those services to meet the demand of the larger
marketplace. We are now launching a microarray services business, leveraging
Agilent's technologies and referrals, which we expect will become a source of
immediate revenues for Paradigm."
According to Kalorama Information, a leader in worldwide business
intelligence and syndicated market research in life sciences, the total U.S.
market for the DNA microarray business is expected to exceed $1 billion per
year by 2007. The company anticipates future customers to include academic
laboratories as well as biotechnology, pharmaceutical and agrochemical
companies. Additional information on Paradigm's DNA microarray services can be
found by visiting http://www.paradigmgenetics.com/gene_expression/ge_microarray.asp.
About Paradigm Genetics
Paradigm is a biotechnology company aiming to increase R&D productivity by
focusing its integrated suite of technologies on the product development
cycle, from target discovery to subsequent enhancement of the safety and
efficacy profiles of development candidates in agriculture and human health.
Paradigm chooses a systems biology approach to understand gene function in the
context of biological pathways, to develop assays and biomarkers for molecular
diagnostic solutions tailored to the needs of our partners. For more
information, visit http://www.paradigmgenetics.com.
This press release contains forward-looking statements, including
statements regarding the effect of executing Paradigm's strategic plan on
increasing shareholder value going forward. Such forward-looking statements
are based on management's current expectations and are subject to a number of
risks, factors and uncertainties that may cause actual results, events and
performance to differ materially from those referred to in the forward-looking
statements. These risks, factors and uncertainties include, but are not
limited to, Paradigm's early stage of development, history of net losses,
technological and product development uncertainties, reliance on research
collaborations, uncertainty of additional funding and ability to protect its
patents and proprietary rights. Certain of these and other risks are
identified in Paradigm's Form 10-Q for the quarter ended September 30, 2002,
filed with the Securities and Exchange Commission. The Company does not
intend to update any of the forward-looking statements after the date of this
release to conform these statements to actual results or to changes in our
expectations, except as may be required by law.
SOURCE Paradigm Genetics, Inc.
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Related links:
http://www.paradigmgenetics.com
CONTACT:
Melissa Matson, Manager, Corporate
Communications of Paradigm Genetics, Inc., +1-919-425-3000, or
media, Prateek Patnaik, or investors, Amy Garay, both of Noonan
Russo Presence Euro RSCG for Paradigm Genetics, Inc.,
+1-212-845-4200
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