- Paradigm Targets Increased Revenues for Its Microarray Services Business -
RESEARCH TRIANGLE PARK, N.C., and SANTA CLARA, Calif., Oct. 20
/PRNewswire-FirstCall/ -- Paradigm Genetics, Inc. (Nasdaq: PDGM) and
Affymetrix (Nasdaq: AFFX) today announced that they have entered into a
services agreement whereby Paradigm Genetics will provide microarray
processing services using Affymetrix GeneChip(R) technology. Additionally,
the companies signed a Biotech Access(TM) Agreement providing Paradigm the
right to use Affymetrix technologies for Paradigm internal research programs.
The two agreements will give Paradigm Genetics' customers and researchers
access to Affymetrix GeneChip microarray technology, including the new Human
Genome U133 Plus 2.0 Array, providing the protein-coding content of the human
genome, nearly 50,000 RNA transcripts and variants, on a single microarray.
"By partnering with Affymetrix, the market leader for microarray products,
we gain the necessary access to a much larger market to accelerate revenue for
our microarray business. Through this agreement, we become the only high-end,
commercial entity that can process arrays using multiple platforms. Needless
to say, access to Affymetrix technology will benefit our emerging human health
discovery programs," said Heinrich Gugger, Ph.D., president and CEO of
Paradigm Genetics. "In the nine months since we launched our microarray
services business, we've established ourselves as a provider of the highest
quality microarray services. Not only are we equipped to handle high-volume
orders in unprecedented turnaround times, we provide professional services
ranging from consultation on experimental design through data analysis."
"The fact that Paradigm has signed both a service and a Biotech Access
agreement with us speaks to their belief that our technologies will help drive
both their microarray services business and their own research efforts as
well," said Trevor Nicholls, Chief Commercial Officer of Affymetrix. "We are
pleased to work with Paradigm as we continue to make advances in the
development of powerful technologies to explore and analyze the genome."
Additional information on Paradigm's microarray services can be found by
visiting http://paradigmgenetics.com/micro. Additional information on
Affymetrix GeneChip products can be found on
http://www.affymetrix.com/technology/index.affx.
About Paradigm Genetics
Paradigm is a biotechnology company that increases 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 uses 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. Paradigm's
proprietary Gene to Cell to System(TM) approach has four major components:
gene expression profiling, biochemical profiling (also known as metabolomics),
phenotypic profiling and data integration and coherence. For more
information, visit http://www.paradigmgenetics.com.
About Affymetrix
Affymetrix is a pioneer in creating breakthrough tools that are driving
the genomic revolution. By applying the principles of semiconductor
technology to the life sciences, Affymetrix develops and commercializes
systems that enable scientists to improve the quality of life. The Company's
customers include pharmaceutical, biotechnology, agrichemical, diagnostics and
consumer products companies as well as academic, government and other
non-profit research institutes. Affymetrix offers an expanding portfolio of
integrated products and services, including its integrated GeneChip platform,
to address growing markets focused on understanding the relationship between
genes and human health. Additional information on Affymetrix can be found at
http://www.affymetrix.com.
This press release contains forward-looking statements, including
statements regarding Paradigm's ability to increase R&D productivity by
focusing its integrated suite of technologies on the product development
cycle; and to use 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 its partners. Such
forward-looking statements are based on Paradigm 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 quarterly report
on Form 10-Q for the quarter ended June 30, 2003, filed with the Securities
and Exchange Commission. Paradigm 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.
All statements in this press release that are not historical are
"forward-looking statements" within the meaning of Section 21E of the
Securities Exchange Act as amended, including statements regarding Affymetrix'
"expectations," "beliefs," "hopes," "intentions," "strategies" or the like.
Such statements are subject to risks and uncertainties that could cause actual
results to differ materially for Affymetrix from those projected, including,
but not limited to risks of the Company's ability to achieve and sustain
higher levels of revenue, higher gross margins, reduced operating expenses,
uncertainties relating to technological approaches, manufacturing, product
development, market acceptance (including uncertainties relating to product
development and market acceptance of the 100K DNA analysis product), personnel
retention, uncertainties related to cost and pricing of Affymetrix products,
dependence on collaborative partners, uncertainties relating to sole source
suppliers, uncertainties relating to FDA and other regulatory approvals,
competition, risks relating to intellectual property of others and the
uncertainties of patent protection and litigation. These and other risk
factors are discussed in Affymetrix' Form 10-K for the year ended
December 31, 2002 and other SEC reports, including its Quarterly Reports on
Form 10-Q for subsequent quarterly periods. Affymetrix expressly disclaims
any obligation or undertaking to release publicly any updates or revisions to
any forward-looking statements contained herein to reflect any change in
Affymetrix' expectations with regard thereto or any change in events,
conditions, or circumstances on which any such statements are based.
NOTE: Affymetrix, the Affymetrix logo, and GeneChip and are registered
trademarks owned or used by Affymetrix, Inc.
For further information, please contact:
Melissa Matson
Director, Corporate Communications
Paradigm Genetics, Inc.
919-425-3000
Mark Vincent/Brian Ritchie
Noonan Russo Presence Euro RSCG
212-845-4200
Media Contact:
Wes Conard
Sr. Manager, Public Relations
Affymetrix
408-731-5791
Investor Contact:
Doug Farrell
Vice President, Investor Relations
Affymetrix
408-731-5285
SOURCE Paradigm Genetics, Inc., Affymetrix
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Related links:
http://www.paradigmgenetics.com
http://www.affymetrix.com
CONTACT:
Melissa Matson, Director, Corporate
Communications of Paradigm Genetics, Inc., +1-919-425-3000; or
Mark Vincent or Brian Ritchie of Noonan Russo Presence Euro RSCG,
+1-212-845-4200; or Media, Wes Conard, Sr. Manager, Public
Relations, +1-408-731-5791, or Investors, Doug Farrell, Vice
President, Investor Relations, +1-408-731-5285, both of
Affymetrix
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