Applied Imaging Acquires Cytogenetic Imaging Instrumentation
Business from Vysis
SANTA CLARA, Calif., and DOWNERS GROVE, Ill., July 19 /PRNewswire/ --
Applied Imaging Corp. (Nasdaq: AICX) and Vysis, Inc. (Nasdaq: VYSI) today
announced that Applied Imaging purchased the cytogenetic imaging
instrumentation business from Vysis. The transaction included Vysis taking
approximately a 4% equity stake in Applied Imaging.
The two companies will work together to provide mutual customers with a
full range of integrated reagent and imaging systems to fulfill their clinical
and research requirements. Under the terms of the agreement, Applied Imaging
will focus its sales and product development efforts on cytogenetic imaging
instrumentation, while Vysis will focus its resources on its proprietary DNA
probe business FISH technology and its newly developed genomic microarray
platform, GenoSensor(TM). Applied Imaging will continue to support, service
and sell a complete line of cytogenetic imaging instruments to both companies'
customers worldwide.
"Following a review of current and projected market needs, we determined
that customer and shareholder interest would best be served through a
collaboration between the respective leaders in the field, with each
leveraging its core capabilities," stated John Bishop, President and CEO of
Vysis. "We will be working closely with Applied Imaging to support our mutual
customers by providing the best possible integrated reagent and imaging
systems for their clinical and research requirements. In addition, taking
advantage of Vysis' European infrastructure, Vysis will, in certain European
countries, act as the representative for Applied Imaging."
"This agreement plays to the strengths of both companies", said Jack
Goldstein, President and CEO of Applied Imaging. "Vysis is the world leader
in FISH DNA probe products for cancer and prenatal cytogenetics, while Applied
Imaging is the market leader in the cytogenetic instrumentation used to
analyze the results of such DNA probe testing. This agreement is
unprecedented in this field and represents the best use of both companies'
core competencies. Customers will have access to a full range of
complementary imaging technologies that are compatible with the imaging
networks already installed in their laboratories."
Applied Imaging Corp., based in Santa Clara, Calif., develops,
manufactures, and markets automated clinical analysis systems used by
laboratories for prenatal and other genetic diseases. The Company markets its
products worldwide and has more than 650 customer sites in over 35 countries.
Applied Imaging is a publicly traded company listed on the Nasdaq Stock Market
under the symbol AICX.
Vysis, Inc. of Downers Grove, Ill., is a genomic disease management
company that develops, commercializes and markets clinical products providing
information critical to the evaluation and management of cancer, prenatal
disorders and other genetic diseases. It currently markets clinical products
approved and cleared by the U.S. Food and Drug Administration and the French
Agence du Medicament, and a line of research products for genetic analysis.
The company has direct sales operations in the United States and Europe, a
marketing partnership in Japan with Fujisawa Pharmaceutical Co., and a
worldwide distribution network. Vysis is a publicly traded company listed on
the Nasdaq Stock Market under the symbol VYSI.
The statements in this press release which are not historical facts are
forward-looking statements and are subject to risks and uncertainties inherent
in the businesses of Vysis and Applied Imaging. These risks and uncertainties
include: competition; compliance by the companies with regulatory
requirements; the ability of the companies to successfully market and sell
their products and equipment; the companies' ability to manufacture products
in sufficient quantities; the companies' ability to maintain intellectual
property protection for their proprietary products, to defend their existing
intellectual property rights from challenges by third parties, and to avoid
infringing intellectual property rights of third parties; and the extent to
which the clinicians or laboratories performing the procedures are able to
obtain third-party reimbursement. In addition, a detailed discussion of risks
and uncertainties may be found in the companies' periodic filings with the
Securities and Exchange Commission.
SOURCE Applied Imaging Corp.
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Related links:
http://www.aicorp.com
http://www.vysis.com
CONTACT:
Jack Goldstein, CEO, of Applied Imaging
Corp., 408-562-0250; general info, Traci McCarty, or investors,
Janet Nelson, of the Financial Relations Board, 415-986-1591, for
Applied Imaging; John Bishop, CEO of Vysis, Inc., 630-271-7000;
or general info, Leslie Hunziker, 312-640-6760, analysts-
investors, Susan Olsen, 312-274-2258, or media inquiries, Thomas
Boyden, 312-640-6774, all for Vysis, Inc.
NOTE TO EDITORS: For additional information on Applied Imaging
via fax, please dial 1-800-PRO-INFO, (732-544-2850 outside of the
U.S.), code AICX and for VYSIS use code VYSI.
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