SANTA CLARA, Calif., April 29 /PRNewswire-FirstCall/ --
Applied Imaging Corp. (Nasdaq: AICX) announced that it has entered into an
agreement with the Wellcome Trust Sanger Institute to be its sole imaging
development partner in the Atlas of Gene Expression project. Applied Imaging
will have the exclusive worldwide commercial rights to sell the various
Ariol(TM) applications developed under the agreement. The Sanger Institute is
a leading genomics research center based in Cambridge in the United Kingdom.
The goal of the Sanger Institute's Atlas of Gene Expression is to map
human protein expression patterns at the cellular level. The majority of
diseases, including cancers, involve an imbalance in protein expression. These
can result from genomic abnormalities or from a variety of metabolic causes.
The project will systematically map and compare protein expression in both
normal and disease states, using recombinant antibodies to image and analyze
tissue samples. The Atlas of Gene Expression may then be used to establish
targets for diagnostic tests and therapies for various diseases.
Under the agreement, Applied Imaging will undertake the development of
proprietary applications for high throughput analysis of tissue samples using
the Company's Ariol(TM) software. The agreement also provides for the initial
purchase of Ariol(TM) systems by the Sanger Institute.
"We are very pleased that the Sanger Institute has chosen our technology
as the foundation for their advanced pathology image analysis needs," stated
Carl Hull, Chief Executive Officer of Applied Imaging. "This type of analysis
is an increasingly important element of research, drug discovery and clinical
testing worldwide. We believe that these new applications will lead to
promising new market opportunities for our Ariol(TM) system."
About Applied Imaging
Applied Imaging Corp., based in Santa Clara, California, is the leading
supplier of automated imaging systems utilized in genetics and pathology
laboratories throughout the world for the analysis of chromosomes in cancer
and prenatal disorders. The Company markets a range of imaging systems for
fluorescence and brightfield microscopy applications, including the Company's
Ariol(TM), MDS(TM), SPOT(TM), CytoVision(R), PowerGene(R) and QUIPS(R) product
lines. Applied Imaging has installed in excess of 3,000 systems in over 1,000
laboratories in more than 60 countries.
About the Sanger Institute
Located in Cambridge in the United Kingdom, the Wellcome Trust Sanger
Institute is one of the leading genomics research centers in the world. It was
established in 1992 by the Wellcome Trust and the Medical Research Council of
the United Kingdom to further scientific knowledge of genomes and, in
particular, to play a substantial role in the sequencing and interpretation of
the human genome. The Sanger Institute was the only British institution
involved in the recently completed Human Genome Project and conducted nearly
one-third of the sequencing work, making it the largest single contributor to
this global collaborative effort. The Sanger Institute's diverse research
programs underpin biological and medical research worldwide.
This press release contains forward looking statements as defined in the
Private Securities Litigation Reform Act of 1995, regarding the potential
sales and market opportunities for the Company's Ariol(TM) system that may
result from the development agreement announced in this Press Release. Forward
looking statements address matters that are subject to a number of risks and
uncertainties, including the Company's ability to develop and commercialize
these high-throughput tissue analysis applications and meet the milestones
contemplated under the development agreement. Further information on potential
risk factors that could affect the Company, its business and its forecasts are
detailed in the Company's periodic filings with the Securities and Exchange
Commission, including, but not limited to, those risks and uncertainties
listed in the section entitled "Management's Discussion and Analysis of
Financial Condition and Results of Operations -- Factors Affecting Future
Results," in Applied Imaging's annual report on Form 10-K for the year ended
December 31, 2002, filed with the Securities and Exchange Commission. The
forward-looking statements are made as of April 29, 2003 and Applied Imaging
is under no obligation to revise or update the forward-looking statements.
For additional information on Applied Imaging, visit the Company's Web
site at http://www.aicorp.com.
SOURCE Applied Imaging Corp.
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Related links:
http://www.aicorp.com
CONTACT:
Barry Hotchkies, CFO of Applied Imaging
Corp., +1-408-562-0250; or James Hoyne of FRB/Weber Shandwick,
+1-310-407-6546, for Applied Imaging Corp.
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