VEDBAEK, Denmark, October 1 /PRNewswire-FirstCall/ --
- Announcement No. 40/2008
- To OMX Nordic Exchange Copenhagen and the Press.
Exiqon A/S today announces a grant of license to Roche Diagnostics for use of the Universal ProbeLibrary that is based on Exiqon's proprietary LNA(TM) detection technology.
Roche Diagnostics will develop its new product line for RealTime ready qPCR assays with the Universal ProbeLibrary that is based on Exiqon's proprietary LNA(TM) detection technology.
"This extension of our successful partnership with Roche allows for the application of Exiqon's LNA(TM) detection technology in the new and fast growing market for ready-to-use and customizable RealTime PCR products. We are exited to have Roche Diagnostics, who is a leader in the RealTime PCR market, embrace the LNA(TM) detection technology in their new product offering," comments Lars Kongsbak, President and CEO of Exiqon."
For additional information, reference is made to the attached press release by the parties.
The financial details of the agreement including commercial milestone payments and royalties on future product sales are not disclosed.
Exiqon retains its financial outlook for 2008 including an expected revenue of DKK 140-150 million in 2008 including both research product sales and 10 months of diagnostic sales from Oncotech's activities corresponding to full year revenues including Oncotech of DKK 150-160 million and a net loss for the year 2008 of DKK 100-115 including DKK 6 million of costs of current incentive plans, including warrants..
Exiqon maintains its long-term financial goal of profitability by 2011 with its current cash position and break even of the research products business by 2009.
Exiqon is dedicated to personalizing the treatment selection for cancer
patients. Our goal is to optimize the use of existing medicine and avoid
unnecessary and non-effective treatment
|SOURCE Exiqon A/S|
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