FREMONT, Calif. and
LUXEMBOURG, Dec. 16, 2010 /PRNewswire-FirstCall/ -- WaferGen
Biosystems, Inc. (OTC Bulletin Board: WGBS), a leading developer of
state-of-the-art genomic analysis systems, and the Integrated
BioBank of Luxembourg (IBBL) today
announced an agreement to establish a strategic relationship that
will expand the use of the WaferGen SmartChip Real-Time PCR system
throughout Europe and advance
personalized medicine.
The agreement includes:
- The purchase of a SmartChip Real-Time PCR system by IBBL to
provide genomic analysis services for its own research programs and
to other groups in Europe.
IBBL will use the SmartChip system for discovery and
validation of gene expression patterns (biomarkers) on a single
platform.
- The two organizations will co-develop molecular signatures for
filing and approval in Europe for
diagnostic research and commercial applications, based on the
planned International Organization for Standardization (ISO) status
of IBBL.
- The two organizations will pursue a research partnership in
cancer and other areas of interest with the goal of furthering the
development of treatment and therapies.
- The two organizations will offer SmartChip Gene-Expression
Profiling services in Europe using
the SmartChip system.
In addition, WaferGen will establish its European Headquarters
at the IBBL facilities in the very near future. WaferGen is
locating its European Headquarters in Luxembourg as part of an agreement with the
Luxembourg Government, which has recently launched a biomedical
initiative to harness genomics technologies for the study of human
health problems and grow Luxembourg's personalized medicine
capabilities.
"IBBL requires an analytical product that is quantitative,
reproducible and provides high sample throughput at a reasonable
cost," said Dr. Robert A. Phillips,
Chief Executive Officer, IBBL. "With the SmartChip system's
ability to run hundreds of samples or thousands of genes on a
single chip, we can perform signature validation in just two hours,
which means faster cycle times and reduced costs."
Alnoor Shivji, Chairman and Chief
Executive Officer, WaferGen, said, "This strategic relationship
with IBBL, a world class biobank that collects, analyzes and stores
samples, enables WaferGen to access best-annotated patient samples
for future diagnostic products. It also establishes a
beach-head in Europe to unlock the
short- and long-term revenue potential of the WaferGen SmartChip
system."
About the Integrated BioBank of Luxembourg (IBBL)
The IBBL is a newly founded independent, not-for-profit biobank
designed to promote new, high quality research in Luxembourg and to bring the next generation of
healthcare to the citizens of Luxembourg. As a world class EU biobank, the
IBBL will provide a wide variety of the highest quality samples
alongside cutting-edge technology in order to stimulate the
development of new biotechnology companies to Luxembourg.
The mission of the IBBL is to be an international center of
excellence for biobanking, a leader in biospecimen research and a
partner in the introduction of personalized medical care in
Luxembourg. The IBBL partners with
globally recognized research centers to deliver world-class medical
research in personalized medicine, and to address the most critical
health issues affecting populations in Luxembourg and around the world. For
additional information, please visit www.ibbl.lu.
About WaferGen and the SmartChip Real-Time PCR System
WaferGen Biosystems, Inc. is a leader in the development,
manufacture and sale of state-of-the-art systems for genomic
analysis for the life science and pharmaceutical industries.
The company currently offers the breakthrough SmartChip
Real-Time PCR system, the next-generation Real-Time PCR system for
discovery and validation of biomarkers, or gene expression
patterns, on a single platform. The company believes that SmartChip
is ideal for researchers seeking to confirm discoveries made with
the growing use of next-generation sequencing. In addition,
the high throughput capabilities of the SmartChip system enable
researchers to extend their research across large panels of genes,
and hundreds of samples, at a very reasonable cost.
Combined with next-generation chemistry and optimized assays
being developed by WaferGen under the guidance of David Gelfand, Ph.D., Chief Scientific Officer
and one of the pioneers of PCR, the SmartChip system is designed to
provide accurate, highly sensitive and high-throughput gene
expression profiling capabilities to researchers, clinicians and
pharmaceutical companies.
In addition, the company offers an innovative fee-based service
for gene-expression profiling using the SmartChip system. For
additional information, please see http://www.wafergen.com.
Forward-Looking Statements
This press release contains certain "forward-looking
statements". Such statements include statements relating to
the expected benefits of the SmartChip Real-Time PCR system with
respect to next generation sequencing and health care costs,
statements relating to the expected benefits and advantages of the
SmartChip service for gene-expression research, statements relating
to the expected benefits and advantages of the SmartChip technology
to other applications, statements relating to the potential new
markets for the company and other statements relating to future
events are not historical facts, including statements which may be
preceded by the words "intends," "may," "will," "plans," "expects,"
"anticipates," "projects," "predicts," "estimates," "aims,"
"believes," "hopes," "potential" or similar words.
Forward-looking statements are not guarantees of future
performance, are based on certain assumptions and are subject to
various known and unknown risks and uncertainties, many of which
are beyond the control of the company. Actual results may
differ materially from the expectations contained in the
forward-looking statements. Factors that may cause such
differences include the risks that: (i) the company may be
unsuccessful in commercially developing its products or in
achieving market acceptance of new and relatively unproven
technologies; (ii) the company will need to raise additional
capital to meet its business requirements in the future and the
company may not be able to do so on reasonable terms or at all;
(iii) the company's proprietary intellectual property rights may
not adequately protect its products and technologies; and (iv) the
company expects intense competition in its target markets,
including from companies that have much greater resources than the
company, and there can be no assurance that the company will be
able to compete effectively. More detailed information about
the company and the risk factors that may affect the realization of
forward-looking statements is set forth in the company's filings
with the Securities and Exchange Commission, including the
company's Annual Report on Form 10-K for the year ended
December 31, 2009 and the most recent
Form 10-Q. Investors and security holders are urged to read
this document free of charge on the SEC's web site at www.sec.gov.
The company does not undertake to publicly update or revise
its forward-looking statements as a result of new information,
future events or otherwise.
Contacts:
|
|
WaferGen
|
|
510-651-4450
|
|
Don Huffman, CFO
|
|
don.huffman@wafergen.com
|
|
|
|
Joyce Strand
|
|
joyce.strand@wafegen.com
|
|
|
|
IBBL
|
|
+352 27 44 64 24
|
|
Arnaud
d'Agostini, Communications
Manager
|
|
Arnaud.Dagostini@ibbl.lu
|
|
|
SOURCE WaferGen Biosystems, Inc.