Gen-Probe Reports Strong Financial Results for Fourth Quarter and Full... (ar Biology Business. -- 3M Food Coll...)

Gen-Probe Reports Strong Financial Results for Fourth Quarter and Full Year 2007

Date:2/13/2008

ar Biology Business.

-- 3M Food Collaboration. On November 8, Gen-Probe announced that 3M

informed the Company it no longer intends to fund the companies'

collaboration to develop rapid molecular assays for the food testing

industry. The collaboration has since been formally terminated.

Despite the termination, Gen-Probe received milestone payments of

$2 million in the fourth quarter of 2007 associated with achieving

technological feasibility for potential food testing assays.

Gen-Probe retains the rights to commercialize these assays.

-- First MilliPROBE(TM) Test. On January 8, Millipore and Gen-Probe

announced the launch of the first product from their collaboration to

create faster, sensitive, more robust tests for detecting contaminants

in pharmaceutical and biotechnology manufacturing processes. The

MilliPROBE system is the first solution of its kind for

biopharmaceutical manufacturing. It combines Millipore's leading,

industry-accepted sample prep methodologies with Gen-Probe's advanced,

proven nucleic acid technologies to deliver both speed and sensitivity

in one microbial screening tool. The MilliPROBE system uses Real-Time

Transcription-Mediated Amplification (RT TMA) technology to detect

targeted microbial contamination within hours compared to the days or

weeks usually required to generate results using traditional

culture-based methods. The collaboration's first MilliPROBE assay

targets the bacterium Pseudomonas aeruginosa and is designed as an

in-process, early warning system to provide faster, more effective

detection of the bacterium in purified water used during drug

production.

-- Purchase of Blood Screening Manufacturing Plant. On February 1,

Gen-Probe purchased for $15.7 million its blo
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Gen-Probe Reports Strong Financial Results for Fourth Quarter and Full...(ar Biology Business. -- 3M Food Coll...)