OMAHA, Neb., Feb. 24 /PRNewswire-FirstCall/ -- Transgenomic, Inc. (OTC Bulletin Board: TBIO) announced today that it has licensed on an exclusive U.S. basis intellectual property from IntegraGen SA that will enable Transgenomic to develop and commercialize a genetic test designed to assess the risk of autism in children who have older siblings diagnosed with an autism spectrum disorder. Under the agreement Transgenomic will develop the test in the Company's CAP-accredited and CLIA-certified laboratory, and anticipates launching the new test in the second quarter of 2010. Financial terms of the agreement were not disclosed.
"We are pleased to have the opportunity to develop and offer a genetic test to clinicians and parents that will assist in the evaluation of children who are thought to be at high risk of being autistic," stated Craig Tuttle, president and chief executive officer of Transgenomic. "We believe that the use of this test in conjunction with standard diagnostic tools will allow for the earlier diagnosis of autism, and importantly, the more timely initiation of treatment plans for these children. We look forward to adding this proprietary test to our growing commercial offerings."
Autism is a developmental disorder that causes significant social, communication and behavioral challenges in children. The Centers for Disease Control and Prevention estimates that one in 110 children in the U.S. has an autism-related disorder, and that the incidence of autism is up 57 percent from 2002 to 2006. Even though parents typically express concerns about their child's developmental progress before the age of three, the average age of diagnoses is not until 53 months. Early intervention has been shown to be effective in improving a child's ability to develop into a competent adult. Children with a sibling who has been diagnosed with autism are at a significantly greater risk of developing the disorder.
"IntegraGen is excited about the opportunity for our technology to be commercialized by Transgenomic," said Dr. Bernard Courtieu, chief executive officer of IntegraGen. "We will continue our gene discovery efforts to further our understanding of autism while focusing on other diseases where molecular tests may help with patient diagnosis and disease management."
IntegraGen (www.integragen.com) is a Biotechnology Company dedicated to gene discovery which allows for the development of molecular diagnostics products and services that provide clinicians with new tools to personalize diagnosis, treatment, and therapy. IntegraGen is focused on the prevention and proactive management of complex debilitating diseases, and dedicated to addressing the needs of patients, clinicians, and advocacy groups. IntegraGen's Genetic Services Business also provides state of the art Genotyping Services to the research community. With discovery and intellectual property focused on Autism, Oncology and Metabolism, IntegraGen's Core Strategy is to deliver a portfolio of high-value molecular diagnostic products and services that drive personalized healthcare solutions for complex diseases.
About Transgenomic, Inc.
Transgenomic, Inc. (www.transgenomic.com ) 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, over 1,475 systems have been shipped to customers in more than 30 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.
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.
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