OpGen Provides update on Curetis Group’s R&D Collaboration
September 18 2019 - 6:30AM
OpGen, Inc. (Nasdaq: OPGN) reported an update on the business of
Curetis GmbH, the other party to the planned business combination
with OpGen. On September 16, 2019, Curetis, N.V. announced
that its wholly-owned subsidiary Ares Genetics GmbH (“Ares
Genetics”) has entered into a multi-phase collaboration with an
undisclosed leading global in vitro diagnostics corporation to
jointly develop diagnostic solutions for infectious disease testing
based on next-generation sequencing (“NGS”) technology. The
companies signed an R&D and option agreement for the first
phase of the collaboration.
As Curetis announced, the collaboration follows the successful
completion of a feasibility study in which Ares Genetics correctly
identified 100% of the pathogen species and successfully predicted
antibiotic resistance for over 50 drug/pathogen combinations in
line with FDA requirements (<1.5% very major error, i.e.
misclassification of resistant isolates as susceptible and <3 %
major error, i.e. misclassification of susceptible isolates as
resistant). In a first phase of the collaboration expected
to take about 12 months, the parties will further enrich ARESdb
with a focus on certain pathogens relevant in a first, undisclosed
infectious disease indication. Additional clinical isolates of such
pathogens will be sequenced by Ares Genetics at its recently
established NGS laboratory in Vienna, Austria. Based on this
enlarged and enriched dataset, Ares Genetics will further optimize
the algorithms for predictive antibiotic resistance testing for
drug/pathogen combinations particularly relevant in the targeted
indication to enable NGS-based infectious disease diagnostics.
Under the initial agreement signed between Ares Genetics and
the collaboration partner on September 16, 2019, the collaboration
partner will fully fund the Ares Genetics’ research and development
activities for the genotypic and phenotypic characterization of
additional bacterial strains to augment ARESdb and the development
of optimized algorithms for predicting antibiotic resistance.
Furthermore, in return for an undisclosed up-front option fee, the
collaboration partner obtains a right of first negotiation for an
exclusive human clinical diagnostic use license to ARESdb and the
ARES Technology Platform. OpGen and Curetis
entered into a definitive agreement to combine businesses on
September 4, 2019. The closing of the transaction under such
definitive agreement has not yet occurred and is subject to a
number of significant closing conditions, including receipt of
approval from the stockholders of OpGen, Inc. and the shareholders
of Curetis, N.V. Until the closing occurs, each of OpGen and
Curetis are operating as stand-alone businesses.
To read the full press release from Curetis, please click
here.
About OpGenOpGen,
Inc. is a precision medicine company harnessing the power of
molecular diagnostics and informatics to help combat infectious
disease. We are developing molecular information products and
services for global healthcare settings, helping to guide
clinicians with more rapid and actionable information about life
threatening infections, improve patient outcomes, and decrease the
spread of infections caused by multidrug-resistant microorganisms,
or MDROs.
Our molecular diagnostics and informatics
products, product candidates and services combine our Acuitas
molecular diagnostics and Acuitas Lighthouse informatics
platform for use with our proprietary, curated MDRO knowledgebase.
We are working to deliver our products and services, some in
development, to a global network of customers and
partners. The Acuitas AMR Gene Panel (RUO) is intended
for Research Use Only and is not for use in diagnostic procedures.
The Acuitas Lighthouse Software is not distributed commercially for
antibiotic resistance prediction and is not for use in diagnostic
procedures. For more information, please
visit www.opgen.com.
OpGen, Acuitas, and Acuitas
Lighthouse are registered trademarks of OpGen, Inc.
Forward-Looking Statements
This press release describes events related to
Curetis N.V., a party to a business combination agreement with
OpGen that has not yet closed. These statements constitute
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, and are intended to qualify for the safe
harbor from liability established by the Private Securities
Litigation Reform Act of 1995. Such statements are subject to risks
and uncertainties that are often difficult to predict, are beyond
our control, and which may cause the future to differ materially
from expectations. We cannot assure you that the proposed business
combination transaction with Curetis N.V., which is subject to
significant conditions to close, will occur. For a discussion
of the most significant risks and uncertainties associated
with OpGen's business, please review our filings with
the Securities and Exchange Commission. You are cautioned not
to place undue reliance on these forward-looking statements, which
are based on our expectations as of the date of this press release
and speak only as of the date of this press release. We undertake
no obligation to publicly update or revise any forward-looking
statement, whether as a result of new information, future events or
otherwise.
OpGen Contact: Michael Farmer Vice President,
Marketing (240)
813-1284mfarmer@opgen.comInvestorRelations@opgen.com
Press Contact:Matthew BretziusFischTank
Marketing and PRmatt@fischtankpr.com
Investor Contacts:Joe Green Edison Group
jgreen@edisongroup.com
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