WALTHAM, Mass., Nov. 8 /PRNewswire-FirstCall/ -- Inverness Medical Innovations (Amex: IMA) today announced that it has entered into an agreement with Chemogen, Inc. for the worldwide manufacture and distribution of tests for the rapid detection of Mycobacterium, the primary causative agent of tuberculosis. The tests will utilize Chemogen's proprietary antibodies for the detection of Lipoarabinomannan (LAM) antigen in urine as an aid in the diagnosis of current mycobacterial infection (including Tuberculosis), especially in those patients who are HIV positive.
Commenting on the agreement, Ron Zwanziger, CEO of Inverness, said, "HIV is driving a deadly resurgence of TB on a global scale, claiming nearly 2 million lives annually in recent years. The need for reliable TB diagnosis in HIV co-infected populations has become a top priority, especially in the developing world where these two pandemics are taking a devastating toll on human populations. Inverness is already a leading provider of rapid HIV diagnostic tests to these areas and the availability of a reliable test that can diagnose tuberculosis in HIV-infected patients will be a major step forward in the control of the disease."
In addition to the immediate launch of an already developed and highly sensitive ELISA test to endemic regions, Inverness plans to complete the development of a rapid point of care assay that will reliably and rapidly detect LAM in urine samples, using its proprietary lateral flow technology.
By developing new capabilities in near-patient diagnosis, monitoring and health management, Inverness Medical Innovations enables individuals to take charge of improving their health and quality of life. A global leader in rapid point-of-care diagnostics, Inverness' products, as well as its new product development efforts, focus on infectious disease, cardiology, oncology, drugs of abuse and women's health. Inverness is headquartered in Waltham, Massachusetts. For additional information on Inverness Medical Innovations, please visit http://www.invernessmedical.com.
Chemogen is an emerging biotechnology company focused on the development and commercialization of novel and proprietary technology for the rapid diagnosis of infectious diseases.
This press release contains forward-looking statements within the meaning of the federal securities laws, including statements regarding possible margin improvements. Actual results may differ materially due to numerous factors, including without limitation, the ability of Inverness to develop and commercialize new products and obtain regulatory approvals; the ability of Inverness to successfully and efficiently manufacture products; future demand for and costs of the Inverness' products; and the risks and uncertainties described in Inverness' periodic reports filed with the Securities and Exchange Commission under the federal securities laws, including Inverness' Annual Report on Form 10-K for the year ended December 31, 2006, as amended. Inverness undertakes no obligation to update any forward-looking statements.
|SOURCE Inverness Medical Innovations|
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