Navigation Links
Exiqon Receives the 2008 Frost & Sullivan Growth Strategy Leadership Award
Date:7/23/2008

VEDBAEK, Denmark, July 24 /PRNewswire-FirstCall/ -- Frost & Sullivan has announced the selection of Exiqon as the recipient of its 2008 Growth Strategy Leadership Award in the molecular diagnostic market. This award follows Frost & Sullivan's most recent analysis of the molecular diagnostic market.

Exiqon was selected for this award because of the company's acquisition of Oncotech, a market leader in the field of in vitro therapy selection testing for cancer. The research team at Frost & Sullivan viewed the acquisition of Oncotech by Exiqon as both well-timed and well-executed on the heels of the company's highly successful May 2007 IPO. .

The acquisition of Oncotech allowed the two companies to combine resources to become a leading supplier of molecular diagnostic tests based on proprietary miRNA biomarkers. "Combining the two companies has allowed Exiqon to master a number of the most significant challenges in building a platform for its future molecular diagnostic business in the US," says CEO Lars Kongsbak.

"We are dedicated to personalizing the treatment selection for cancer patients. This acquisition increases the likelihood of success and the speed in which new molecular diagnostic products can be marketed by Exiqon" continues Kongasbak; "Our goal is to optimize the use of existing medicine and avoid unnecessary and non-effective treatment."

Through Oncotech, Exiqon markets diagnostic products that enable doctors to test whether their patients are resistant to chemotherapies prior to subscribing a treatment (the 'Extreme Drug Resistance-test'). Oncotech provides a strategic competitive advantage and a clear path to the market for Exiqon's new diagnostic products. Exiqon has already established itself as one of the market's leading providers of research products for gene expression analysis based on the LNA(TM) technology.

Frost & Sullivan does not accept nominations or submissions for Frost & Sullivan Awards. The selection of this Award comes through in-depth interviews and primary market analysis conducted by Frost & Sullivan's industry analyst team.

"Exiqon strategically gained entry into the U.S. cancer molecular diagnostics and allied pharmaceutical services market via its $45 million acquisition of privately-held Oncotech," explains Frost & Sullivan senior analyst Dr. Sudeep Basu. "The February 2008 all-share-deal also strengthens Exiqon's position in the overall U.S. life sciences research and clinical diagnostics markets."

"Pharmaceutical companies now have a rapidly growing interest in biomarker development and companion diagnostics," continues Exiqon CEO Kongsbak. "Exiqon's proficiency in High Throughput Screening (HTS), together with a Bio-Bank of 150,000 tumor tissue samples at Oncotech, positions Exiqon as a partner-of-choice for pharmaceutical companies."

"Exiqon's well-executed market entry strategy, continued focus on innovation, key partnerships with industry and cancer research centers, and market-driven product development approach position Exiqon as a leader in its industry," adds Frost & Sullivan's Dr. Basu.

About Exiqon

Exiqon combines leading-edge scientific expertise in gene expression with proprietary LNA(TM) technology. The company's products, services and scientific staff enable life science researchers to make groundbreaking discoveries. Moreover, the company addresses the unmet need for a new approach to the diagnosis of cancer. Exiqon markets its products directly on http://www.exiqon.com, or through distributors ( http://www.exiqon.com/SEEEMS/2846.asp), and partners its proprietary Locked Nucleic Acids (LNA(TM)) technologies through industry leaders. Exiqon is located in the Medicon Valley area of Copenhagen, Denmark and is listed on the NASDAQ OMX in Copenhagen.

About Frost & Sullivan Best Practices Awards

Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.

Additional information, Exiqon:

Lars Kongsbak, CEO, phone +45-45-66-08-88 (cell: +45-40-90-21-01)

Hans Henrik Chrois Christensen, CFO, phone +45-45-66-08-88 (cell: +45-40-90-21-31)

Additional information, Frost & Sullivan:

Frost & Sullivan, Jake Wengroff, Director, Corporate Communications Phone: +1-917-952-6816

http://www.awards.frost.com


'/>"/>
SOURCE Exiqon A/S
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. Exiqon Appoints Cynthia French as Chief Scientific Officer and Erik Holmlin as Chief Commercial Officer
2. Exiqon: Major Shareholder Announcement
3. Peregrine Pharmaceuticals Receives Letter from NASDAQ Citing Failure to Regain Compliance with Minimum Bid Price Rule
4. Spherix Receives NASDAQ Bid Price Deficiency Letter
5. Seahorse Bioscience Receives Poster Award from the European Association for the Study of Obesity
6. Sonus Pharmaceuticals Receives Favorable NASDAQ Decision
7. Hutchinson Center Receives $7.6 Million Federal Grant to Study How Genetic Variations Influence Risk of Common Diseases
8. BioMS Medicals relapsing-remitting multiple sclerosis trial receives positive review from Data Safety Monitoring Board
9. Lorus Therapeutics Receives $600 Thousand From Escrow Account
10. OncoGenex receives completed Special Protocol Assessment for primary registration study of lead drug candidate OGX-011
11. CV Therapeutics Receives European Marketing Authorization for Ranolazine for the Treatment of Patients With Chronic Angina
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/20/2017)... TX (PRWEB) , ... September ... ... LLC (IPS), a leading global provider of engineering, architecture, project controls, construction ... of prefabricated cleanrooms, today announced the unveiling of the iCON™ brand which ...
(Date:9/20/2017)... Texas (PRWEB) , ... September 20, 2017 , ... From ... cell therapy succeeded after standard medicine failed. Many of these people had lost all ... Not Regression Free Download (pdf) , “Neil takes readers ...
(Date:9/19/2017)... (PRWEB) , ... September 19, 2017 , ... ... and accurately automates the most dangerous step of sample prep for metals digestion—the ... to provide automation at an affordable price. The system is ideal for any ...
(Date:9/19/2017)... ... ... CEO and founder, Dr. Bob Harman DVM, MPVM, is featured in an interview with Dr. ... Dr. Harman and Dr. Riordan met in 2003 and have remained in contact over ... cell therapy and a fast friendship was formed. , Dr. Harman has been a leader ...
Breaking Biology Technology:
(Date:4/13/2017)... SANTA MONICA, Calif. , April 13, 2017 /PRNewswire/ ... New York will feature emerging and ... Innovation Summits. Both Innovation Summits will run alongside the ... variety of speaker sessions, panels and demonstrations focused on ... east coast,s largest advanced design and manufacturing event will ...
(Date:4/11/2017)... , April 11, 2017 No ... but researchers at the New York University Tandon ... of Engineering have found that partial similarities between ... systems used in mobile phones and other electronic ... The vulnerability lies in the fact ...
(Date:4/5/2017)... YORK , April 5, 2017 Today ... is announcing that the server component of the HYPR ... known for providing the end-to-end security architecture that empowers ... HYPR has already secured over 15 million ... makers including manufacturers of connected home product suites and ...
Breaking Biology News(10 mins):