Navigation Links
Transgenomic Awarded $1,070,453 From U.S. Government Under the Patient Protection and Affordable Care Act

OMAHA, Neb., Nov. 12, 2010 /PRNewswire/ --  Transgenomic, Inc. (OTC Bulletin Board: TBIO) today announced that it has been awarded a research and development grant totaling $1,070,453.32 from the U.S. government under HR: 3590 – Patient Protection and Affordable Care Act (the "Act") in immediately available funds. This is among the largest awards for any one company under the Act. Four of the Company's R&D programs received the highest maximum allowable award of $244,479.25 each, including COLD-PCR, the company's ultra-high mutation detection technology, Surveyor SCAN kit development for key cancer pathway gene mutations and mtDNA Damage Assays.

Under the Act, $1 billion was earmarked for qualifying therapeutic discovery projects that treat areas of unmet medical need or prevent, detect or treat chronic or acute diseases and conditions, and/or reduce the long-term growth of healthcare costs in the United States.  In addition, allocation of the credit took into consideration which projects show the greatest potential to create and sustain high-quality, high-paying U.S. jobs and to advance U.S. competitiveness in life, biological and medical sciences.  Applicants were required to submit detailed information demonstrating that their research conformed to the parameters of the Act, along with a summary of qualifying expenditures that formed the basis for the award.  The award of $1,070,453 represents a pro rata reduction applied to all applicants, as the program was significantly over-subscribed.

Craig Tuttle, president and chief executive officer of Transgenomic said, "We were particularly pleased that our work with COLD-PCR, an extremely sensitive method for detecting genetic mutations with, was recognized as being worthy of this development award as we see significant promise in applying COLD-PCR to the early detection of circulating DNA mutations in cancer and other diseases. In addition, the fact that five of our programs received awards demonstrates the breadth of our research and development pursuits."

About Transgenomic, Inc.

Transgenomic, Inc. ( is a global biotechnology company specializing in high sensitivity genetic variation and mutation analysis, providing products and services in DNA mutation detection and discovery for clinical research, clinical molecular diagnostics and pharmacogenomics analyses. Its product offerings include the WAVE® Systems and associated consumables specifically designed for use in genetic variation detection and single- and double-strand DNA/RNA analysis and purification. With broad applicability to genetic research, nearly 1,500 systems have been shipped to customers in more than 50 countries. The SURVEYOR® Mutation Detection Kits and SURVEYOR Check-It Kit provide reagents and protocols for high sensitivity detection of mutations in DNA. In addition, HANABI automated chromosome harvesting systems improve laboratory productivity with consistent quality compared with manual methods for cytogenetic analyses. Service offerings include the Transgenomic Molecular Laboratory, which provides reference laboratory services specializing in molecular diagnostics including Mitochondrial Disorders, Oncology and Hematology, Molecular Pathology and Inherited Diseases. Transgenomic Pharmacogenomics Services is a CRO for pharmacogenomic, translational research and clinical trials.

Forward-Looking Statements

Certain statements in this press release constitute "forward-looking statements" of Transgenomic within the meaning of the Private Securities Litigation Reform Act of 1995, which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Forward-looking statements include, but are not limited to, those with respect to management's current views and estimates of future economic circumstances, industry conditions, company performance and financial results, including the ability of the Company to grow its involvement in the diagnostic products and services markets. The known risks, uncertainties and other factors affecting these forward-looking statements are described from time to time in Transgenomic's filings with the Securities and Exchange Commission. Any change in such factors, risks and uncertainties may cause the actual results, events and performance to differ materially from those referred to in such statements. Accordingly, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 with respect to all statements contained in this press release. All information in this press release is as of the date of the release and Transgenomic does not undertake any duty to update this information, including any forward-looking statements, unless required by law.

SOURCE Transgenomic, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. Transgenomic to Hold Third Quarter Financial Results Conference Call on November 15, 2010
2. Transgenomic Develops New Assays to Detect EGFR Mutations Using COLD-PCR
3. Dr. Eric Johnson Joins Transgenomic as Medical Director for Laboratory Services
4. Transgenomic Names Dr. Katherine Richardson Technical Director for Laboratory Services
5. Transgenomic Licenses IP From IntegraGen to Develop Genetic Test for Autism
6. Transgenomic Presents at 12th Annual BIO CEO & Investor Conference
7. Transgenomic Announces the Commercial Launch of SURVEYOR(R) Scan K-RAS Mutation Detection Kit
8. Transgenomic, Inc. Reports Third Quarter 2009 Results
9. Transgenomic and Power3 Medical Report Identification of Abnormal Serum Proteins in Parkinsons Disease
10. Transgenomic, Inc. Reports Second Quarter 2009 Results
11. Reminder: Transgenomic Inc. Announces Second Quarter 2009 Earnings Release Conference Call Webcast
Post Your Comments:
(Date:11/25/2015)... , November 25, 2015 ... Research Report is a professional and in-depth study ...      (Logo: ) , ... of the industry including definitions, classifications, applications and ... provided for the international markets including development trends, ...
(Date:11/24/2015)... ... ... The United States Golf Association (USGA) today announced Dr. Bruce Clarke, of ... since 1961, the USGA Green Section Award recognizes an individual’s distinguished service to the ... of Iselin, N.J., is an extension specialist of turfgrass pathology in the department of ...
(Date:11/24/2015)... 2015 /CNW/ - iCo Therapeutics ("iCo" or "the Company") ... for the quarter ended September 30, 2015. Amounts, ... and presented under International Financial Reporting Standards ("IFRS"). ... said Andrew Rae , President & CEO ... not only value enriching for this clinical program, ...
(Date:11/24/2015)... /PRNewswire/ - Aeterna Zentaris Inc. (NASDAQ:  AEZS) (TSX: AEZ) (the ... the Toronto Stock Exchange, confirms that as of the ... developments that would cause the recent movements in the ... --> About Aeterna Zentaris Inc. ... Aeterna Zentaris is a specialty biopharmaceutical company engaged in ...
Breaking Biology Technology:
(Date:10/29/2015)... MINNETONKA, Minn. , Oct. 29, 2015   ... that supports the entire spectrum of clinical research, is ... the Minnesota High Tech Association (MHTA) as one of ... in the "Software – Small and Growing" category. The ... and individuals who have shown superior technology innovation and ...
(Date:10/29/2015)... 2015 NXTD ) ("NXT-ID" ... on the growing mobile commerce market and creator ... a leading marketplace to discover and buy innovative ... wallet on StackSocial for this holiday season.   ... "Company"), a biometric authentication company focused on the ...
(Date:10/26/2015)... , October 26, 2015 ... --> adds Biometrics Market ... 2021 as well as Emerging Biometrics ... reports to its collection of IT ... . --> ...
Breaking Biology News(10 mins):