OMAHA, Neb., Nov. 20 /PRNewswire-FirstCall/ -- Transgenomic (OTC Bulletin Board: TBIO) today announced that it has been awarded a Phase I Small Business Innovation Research (SBIR) award by the National Science Foundation (NSF) to support the development of its proposed SURVEYOR Endonuclease Adaptor-ligated Libraries (SEAL) technology. A cost-effective and high throughput enabling technology for whole genome analysis, SEAL will identify DNA variations between a reference genome and a test genome with the potential to reduce the cost of whole genome analysis of such variations to under $10,000.
The award is for $100,000 for a duration of six months. Dr. Eric Kaldjian, Chief Scientific Officer of Transgenomic, stated, "We are very excited to be able to develop this innovative technology with the NSF's support, which will allow us to direct significant resources toward SEAL to meet key research milestones more rapidly."
SEAL was invented by Dr. Gary Gerard and colleagues in Transgenomic's Gaithersburg Laboratories, evolving from the Company's SURVEYOR Nuclease technology, which is highly sensitive for detecting genetic variations. By focusing analysis solely on regions of DNA variation, SEAL eliminates the sequencing of vast amounts of non-variant DNA, but is not limited to assessment of known common single nucleotide polymorphisms (SNPs). It thus bridges the current technology gap between haplotyping of known SNPs and deep high-throughput DNA sequencing.
Craig Tuttle, Chief Executive Officer and President of Transgenomic, commented, "This SBIR award by the NSF provides independent, peer-reviewed validation of the SEAL technology and its potential to meet unmet market needs. This supports our belief that SEAL will have a significant impact on whole genome analysis for pharmacogenomic studies in personalized medicine and bacterial drug resistance research."
SURVEYOR Endonuclease Adaptor-ligated Libraries (SEAL) is a cost-effective and high throughput enabling technology for whole genome analysis under development by Transgenomic. It identifies DNA variations between a reference genome and a test genome. Using a linker that attaches an identification tag of known sequence to the DNA ends processed by the SURVEYOR Nuclease, SEAL generates a library of genetic variations present within a DNA sample relative to a reference sample, allowing recognition of both the sequence of the variant nucleotide and the sequence context of the mutation. The library can be sequenced directly via standard or massively parallel systems, queried at any desired genetic locus by PCR amplification or archived for subsequent multi-query analysis.
Transgenomic is a global biotechnology company that provides unique products and services of automated high sensitivity genetic variation and mutation analysis. Their offerings include systems, products, discovery and laboratory testing services to the academic and medical research, clinical laboratory and pharmaceutical markets in the fields of Pharmacogenomics and personalized medicine. Specific offerings include WAVE(R) DHPLC Systems, related consumables and assay kits, Cytogenetics automated systems, and Transgenomic Pharmacogenomics and Reference Laboratory Services. Transgenomic Pharmacogenomics and Laboratory Services utilize their technology and expertise to provide a menu of mutation scanning tests for over 700 cancer-associated genes and more than 60 validated diagnostic tests to meet the needs of pharmaceutical and biotech companies, research and clinical laboratories, physicians and patients. For more information about the innovative systems, products and services offered by Transgenomic, please visit: http://www.transgenomic.com.
Transgenomic Cautionary 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 our 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 reports to 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.
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