Luminex and Exiqon Announce Development and Commercialization Agreement
September 19 2006 - 6:00AM
PR Newswire (US)
New microRNA products will be developed by Exiqon for the Luminex
Bioscience Group AUSTIN, Texas and COPENHAGEN, Denmark, Sept. 19
/PRNewswire-FirstCall/ -- Luminex(R) Corporation (NASDAQ:LMNX), a
leading multiplex solution developer, and Exiqon A/S, a leading
supplier of high-value gene expression analysis products, announced
today the signing of an agreement to co-develop and commercialize
microRNA products. Exiqon will develop and manufacture microRNA
products on behalf of the Luminex Bioscience Group (LBG) based on
Luminex's xMAP(R) technology and Exiqon's Locked Nucleic Acid
(LNA(TM)) technology. Combining the strengths and unique advantages
of both companies' core technologies will create a line of microRNA
products that are comprehensive, highly specific and easy to use.
Patrick J. Balthrop, president and chief executive officer of
Luminex, commented, "This development and commercialization
agreement with Exiqon demonstrates Luminex's commitment to launch
new products that meet the needs of a broad spectrum of end-users.
In the coming months we expect to serve our customers with a
superior product solution in a high growth market as LBG provides
these microRNA products through our partner base. We anticipate
this and other future LBG applications will significantly enhance
our partners' leadership in multiplexed life science research and
diagnostics." Lars Kongsbak, president and chief executive officer
of Exiqon, added, "Combining the ease-of-use and high multiplexing
capacity of the Luminex xMAP platform with the high sensitivity and
specificity of our LNA probes will result in a unique product
offering. Luminex xMAP instruments hold a significant share of
detection platforms in the life sciences industry in both the
research and clinical settings. This collaboration will ensure our
highly specific microRNA detection chemistries are broadly
available to this market segment, which is an important strategic
accomplishment for Exiqon." About microRNAs and LNA(TM) microRNAs
(miRNAs) are a class of regulatory RNA molecules with widespread
effects on gene regulation. Although recently identified as a new
class of molecules, initial studies indicate that miRNAs may
regulate as much as one third of all genes in the genome. Thus
miRNAs comprise an up-until-now hidden level of gene regulation.
Interestingly, miRNAs have already been found to have important
roles in several types of cancers and in processes involved in
cellular differentiation. In the cell, miRNAs are found in the form
of single-stranded RNA molecules, which are typically 20-25
nucleotides long in their active form. LNAs (Locked nucleic acids)
are a class of nucleotide analogue that binds very strongly to RNA
and DNA targets. By including LNAs in detection probes, it is
possible to design very specific high-affinity detection assays for
small RNA targets like miRNAs, which otherwise would not be
possible using standard DNA-based detection probes. About Exiqon
Exiqon is a leading supplier of high-value gene expression analysis
products for the life sciences, research and drug discovery
industries. Exiqon's rapidly growing product offerings integrate
innovative chemistries with web-based software tools to help
scientists achieve rapid and reliable results. Exiqon markets its
products directly on http://www.exiqon.com/ or through distributors
in the EU and Asia, as well as through its new, dedicated US sales
force. Exiqon is located in the Medicon Valley area of Copenhagen,
Denmark and in Boston, USA. Please visit our web-site at
http://www.exiqon.com/. About Luminex Luminex Corporation develops,
manufactures and markets proprietary biological testing
technologies with applications throughout the life sciences
industry. The Company's xMAP system is an open-architecture,
multi-analyte technology platform that delivers fast, accurate and
cost-effective bioassay results to markets as diverse as
pharmaceutical drug discovery, clinical diagnostics and biomedical
research, including the genomics and proteomics research markets.
The Company's xMAP technology is sold worldwide and is already in
use in leading research laboratories as well as major
pharmaceutical, diagnostic and biotechnology companies. Luminex's
xMAP technology received the 2005 Clinical Diagnostics Technology
of the Year Award from Frost & Sullivan. The Company was named
in the 2005 Deloitte Fast 500 of fastest growing technology
companies in North America. Further information on Luminex
Corporation or xMAP can be obtained on the Internet at
http://www.luminexcorp.com/ Statements made in this release that
express Luminex's or management's intentions, plans, beliefs,
expectations or predictions of future events are forward-looking
statements. The words "believe," "expect," "intend," "estimate,"
"anticipate," "will," "could," "should" and similar expressions are
intended to further identify such forward-looking statements for
purposes of the Private Securities Litigation Reform Act of 1995.
It is important to note that the Company's actual results or
performance could differ materially from those anticipated or
projected in such forward-looking statements. Factors that could
cause Luminex's actual results or performance to differ materially
include risks and uncertainties relating to, among others, market
demand and acceptance of Luminex's products, the Company's
dependence on strategic partners for development, commercialization
and distribution of products, fluctuations in quarterly results due
to a lengthy and unpredictable sales cycle, Luminex's ability to
scale manufacturing operations, potential shortages of components,
competition, the timing of regulatory approvals and any
modification of the Company's operating plan in response to its
ongoing evaluation of its business, as well as the risks discussed
under the heading "Risk Factors" in Luminex's Annual Report on Form
10-K for the year ended December 31, 2005, as filed with the
Securities and Exchange Commission. The forward-looking statements
contained herein represent the judgment of Luminex as of the date
of this press release, and Luminex expressly disclaims any intent,
obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements to reflect any change
in Luminex's expectations with regard thereto or any change in
events, conditions or circumstances on which any such statements
are based. Exiqon Company Contact: Dr. Lars Kongsbak President
& CEO +45 45 65 04 50 +45 40 90 21 01 Luminex Corporate
Contact: Harriss T. Currie Vice President, Finance Chief Financial
Officer 512.219.8020 Luminex Media Contact: Sandra G. Oak Nsight
Public Relations 321.591.1508 DATASOURCE: Luminex Corporation
CONTACT: Dr. Lars Kongsbak, President & CEO of Exiqon, +45 45
65 04 50, or +45 40 90 21 01, or ; or Harriss T. Currie, Vice
President, Finance, Chief Financial Officer of Luminex,
+1-512-219-8020, or ; or media, Sandra G. Oak of Nsight Public
Relations, +1-321-591-1508, or , for Luminex Web site:
http://www.luminexcorp.com/ http://www.exiqon.com/
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