Abbott Exercises Its Option to Acquire Ibis Biosciences, a Subsidia... (ilities and establishing a foundation fo...)

Abbott Exercises Its Option to Acquire Ibis Biosciences, a Subsidiary of Isis

Date:12/17/2008

ilities and establishing a foundation for our commercial clinical diagnostic products. We look forward to continuing this progress."

"The broad applicability of Ibis' technology has been demonstrated in biodefense applications, microbial forensics and infectious disease detection and surveillance, and we believe that it has the potential to be a powerful tool in the detection and surveillance of infectious diseases in the hospital and clinical settings," added Stafford O'Kelly, Vice President, Molecular Diagnostics, Abbott.

"Ibis is an example of Isis' broad innovation, and will provide substantial benefit to our shareholders, both now as well as in the future, as Isis receives earn out payments associated with sales of Ibis products," said Stanley Crooke, M.D., Ph.D., Chairman and CEO of Isis. "Ibis has refined its approach toward larger commercial markets, and we believe its relationship with Abbott will allow Ibis to continue to move quickly forward along this path."

About Ibis T5000 Biosensor System and Ibis Biosciences, Inc.

Ibis Biosciences, Inc., a majority-owned subsidiary of Isis Pharmaceuticals, has developed and is commercializing the Ibis T5000(TM) Biosensor System for rapid identification and characterization of infectious agents. The Ibis T5000 is currently intended for research use only and not for use in diagnostic procedures. It is capable of identifying virtually all bacteria, viruses and fungi, and can provide information about drug resistance, virulence and strain type of these pathogens. Commercial applications for the Ibis T5000 Biosensor System include epidemiologic surveillance, monitoring of pandemic diseases, identification of emerging or previously unknown pathogens, forensic characterization of human samples, identification of sources of hospital-associated infections, and, in the future, human infectious disease diagnostics. Ibis develops, manufa
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Abbott Exercises Its Option to Acquire Ibis Biosciences, a Subsidia...(ilities and establishing a foundation fo...)