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Exiqon A/S Announces U.S. Subsidiary Name Change From Oncotech, Inc. to Exiqon Diagnostics, Inc.
Date:10/16/2008

COPENHAGEN, October 16 /PRNewswire-FirstCall/ -- Exiqon today announces the adoption of the name Exiqon Diagnostics for its U.S. subsidiary to signal the company's commitment to expanding its business to a broad offering in molecular and cellular-based diagnostics that guide treatment decisions in oncology.

Exiqon is pleased to announce the adoption of a new name for their clinical laboratory diagnostics business, Exiqon Diagnostics. This progressive change will demonstrate the continuity of the entire Exiqon organization and is an important symbol of Exiqon's commitment to transform Oncotech from its leading position in chemotherapy resistance testing to being the leader in personalized cancer diagnostics with a broad menu of molecular and cellular based assays for solid tumor diagnostics.

"We are excited to adopt this name for our business as it will show to our customers and their patients that Oncotech is undergoing a positive transformation that will lead to a more valuable and comprehensive offering," commented Lars Kongsbak, President and CEO of Exiqon A/S.

Since the acquisition, Exiqon has been integrating Oncotech and Exiqon to form "One Company" with multiple business divisions. Oncotech represents Exiqon's diagnostics division and as part of this integration plan, Exiqon is adopting the new name to better reflect this role within the company. The Oncotech name will continue to remain visible through the re-branding of the Extreme Drug Resistance assay as the Oncotech EDR Assay. As Exiqon Diagnostics, the business unit will be leveraging the broad and powerful intellectual property and R&D pipeline from Exiqon to establish a menu of innovative diagnostic tests that guide physicians in selecting the most appropriate therapies for their patients.

Going forward, Exiqon will create a parallel nomenclature for its three revenue driving businesses: our diagnostic business will conduct its business under the name Exiqon Diagnost
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SOURCE Exiqon A/S
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