RESEARCH TRIANGLE PARK, N.C., Sept. 8 /PRNewswire-FirstCall/ --
Biotechnology company Icoria, Inc. (OTC Bulletin Board: ICOR.OB) today
announced that its gene expression profiling service unit Paradigm Array Labs
has signed three contracts in the current quarter that are expected to
generate up to $1.1 million in revenue.
Under the contracts, which are unrelated, Icoria will provide microarray
expression services, analysis and reporting to Duke University, the United
States Environmental Protection Agency, and an unnamed biotechnology company.
"Paradigm Array Labs' broad portfolio of gene expression services, the
caliber of our work for the NIEHS, and our compliance with GLP guidelines is
generating new business wins for Paradigm Array Labs," said Faye O'Brien, Sr.
Business Director of Icoria. "We have already exceeded 2004 revenues and are
aggressively pursuing new business opportunities, including projects related
to clinical trials."
The four-year Duke University contract involves work on multiple organisms
for researchers at the Duke University Superfund Basic Research Center and is
focused on gaining a better understanding of the mechanism by which
environmental toxicants lead to adverse human and environmental effects. The
two-year EPA contract is also related to environmental toxicants and will
utilize a custom microarray for zebrafish designed by Icoria and produced by
Agilent. The third contract for the unnamed biotech company is underway and
is expected to be completed by the third quarter of 2006.
"Paradigm Array Lab's outstanding reputation in the toxicogenomics arena
is the result of extensive work with the National Institute of Environmental
Health Sciences," said Patrick Hurban, Ph.D., Director of Investigational
Genomics. "We have expanded our product offering over the past year. We are
currently performing exciting work coupling laser capture microdissection with
microarray technology as well as microRNA analysis utilizing the new
MirChip(TM) technology."
Dr. Hurban will be presenting "Accessing Tissue Archives through Laser
Capture Microdissection Coupled with Microarrays," at Chips to Hits 2005, the
12th Annual International Conference and Exhibition in Boston on September 15.
His presentation will discuss using gene expression technology to access
frozen and formalin fixed tissue repositories. He will present several case
histories, including one involving samples that are more than 30 years old.
About Paradigm Array Labs
Paradigm Array Labs, a service unit of Icoria, Inc., is a full-service
microarray processor providing gene expression profiling services,
experimental design consultation, custom microarray design and array
performance testing, sample preparation, analysis and reporting to the
pharmaceutical, biotechnology, agricultural, academic and government markets.
The company is the only authorized/certified service provider for both the
Affymetrix and Agilent gene expression analysis platforms and is also an
Arcturus Microgenomics Service Provider. Paradigm Array Labs launched the
MirChip(TM) technology with Rosetta Genomics last fall.
About Icoria
Icoria, Inc. is a biotechnology company focused on the discovery of novel,
multi-parameter biomarkers using its unique multi-platform approach. Icoria
intends to use these future biomarkers internally to develop multi-analyte
diagnostics to define and grade pathology or disease state with a high level
of specificity and sensitivity, and use its technology to help collaborators
and customers develop better, safer drugs and diagnostics and to identify
targets, leads and drug/diagnostic combinations for liver injury, metabolic
disorders and cancer. Icoria's shares trade on the over the counter bulletin
board.
This press release contains forward-looking statements including, but not
limited to, the Company's expectations for its healthcare based business model
and its biomarker discovery platform. 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, Icoria's ability to identify biomarkers, 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 Icoria's Quarterly Reports on Form
10-Q for the period ended June 30, 2005, March 31, 2005, as amended, and its
Annual Report on Form 10-K for the year ended December 31, 2004, both as 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 Icoria, Inc.
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Related links:
http://www.icoria.com
CONTACT:
Media-Public Relations of Icoria, Inc.,
+1-919-425-2999
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