Agreement Signed with Banyan Biomarkers for Potential Development of Novel
Targets
SAN DIEGO, Aug. 1 /PRNewswire-FirstCall/ -- Biosite(R) Incorporated
(Nasdaq: BSTE) today announced it has signed a collaboration agreement to work
with Banyan Biomarkers Inc. (Alachua, Fla.) to review proposed cerebrovascular
injury targets discovered with Banyan's animal model of cerebral injury.
Under the collaboration, Biosite may select targets that Banyan nominates.
Biosite will then make antibodies to those selected targets using the
Company's proprietary antibody development process, which combines
immunization of mice and phage display to generate highly diverse libraries of
Omniclonal(R) antibodies with high affinity and low cross-reactivity. The
antibodies will be used to generate assays for the measurement of these
targets in blood samples. Validated targets will then be assessed for
commercialization potential, with high-value markers or panels of markers
added to Biosite's product development process.
"This alliance complements Biosite's capabilities and enables us to access
select Banyan targets," said Gunars Valkirs, Biosite senior vice president
Discovery. "Collaborations like these are important for Biosite's Discovery
program because they provide access to novel markers in areas of strategic
focus to Biosite and may lead to potential product opportunities."
The financial terms of the agreement were not disclosed.
About Banyan Biomarkers
Founded in collaboration with the University of Florida in March 2002 as
Daimonion Diagnostics the company was renamed Banyan Biomarkers Inc. in
January 2004. Through contractual arrangements with the University of Florida,
Banyan investigators capitalize on the world-renowned facilities at the
university's Evelyn F. and William McKnight Brain Institute. More information
on the Company can be found at http://www.banyanbio.com.
About Biosite Incorporated
Biosite Incorporated is a leading bio-medical company commercializing
proteomics discoveries for the advancement of medical diagnosis. The
Company's products contribute to improvements in medical care by aiding
physicians in the diagnosis of critical diseases and health conditions.
Biosite's Triage(R) rapid diagnostics are used in approximately 50 percent
of U.S. hospitals and in over 50 international markets. Information on
Biosite can be found at http://www.biosite.com.
Except for the historical information presented herein, matters discussed
in this press release are forward-looking statements that involve risks and
uncertainties that could cause actual results to differ materially from any
future results, performance or achievements expressed or implied by such
statements. Statements that are not historical facts, including but not
limited to statements that are preceded by, followed by, or that include the
words "will;" "believes;" "should;" "intends;" "anticipates;" "plans;"
"expects;" "estimates;" or similar statements are forward-looking statements.
Forward looking statements include statements about the potential benefits of
the collaboration and license agreement between Biosite and Banyan Biomarkers,
Biosite's ability to generate antibody libraries of selected targets and
evaluate the diagnostic utility of the targets, Biosite's ability to develop
and commercialize potential products based on selected targets and Biosite's
ability to identify markers or panels of markers for its product development
pipeline. Risks that should be considered include risks and uncertainties
regarding the discovery and product development process generally, risks
associated with the introduction of competitive products from companies with
greater capital and resources, uncertainties around the proprietary nature of
the targets subject to the collaboration, expansion or development of a direct
sales effort in domestic and international markets, and risks and expenses
associated with litigation, contract disputes, patent conflicts, product
recalls, manufacturing constraints, backlog, delays or inefficiencies,
shipment problems, seasonal customer demand, the timing of significant orders,
changes in reimbursement policies, regulatory changes, competitive pressures
on average selling prices, and the other risks detailed in Biosite's most
recent Annual Report on Form 10-K, as amended, and other SEC filings. Biosite
disclaims, any intent or obligation to update these forward-looking
statements. Copies of Biosite's public disclosure filings are available from
its investor relations department.
Biosite(R), Triage(R) and New Dimensions in Diagnosis(R) are registered
trademarks of Biosite Incorporated. The Company's logo is a trademark of
Biosite Incorporated.
SOURCE Biosite Incorporated
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Related links:
http://www.biosite.com
http://www.banyanbio.com
CONTACT:
Nadine Padilla, VP, Corporate & Investor
Relations of Biosite Incorporated, +1-858-455-4808 x3187,
npadilla@biosite.com
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