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deCODE genetics Announces First Quarter 2009 Financial Results
Date:5/11/2009

lion in cash, and last month, the company signed licensing agreements with Celera Corporation under which it received an upfront payment and will receive royalties on sales of Celera testing products and services incorporating deCODE genetic risk markers. The company believes it has sufficient resources to sustain operations through the second quarter of this year.

"Over the past few months we have been recasting deCODE's business around what we do best: discover genetic risk factors for common diseases and apply those findings in tests and services that can improve the prevention and treatment of disease. Our partnership with Celera is one facet of this strategy. Preliminary acceptance of our US patent application for one of our major genetic risk markers also underscores the wisdom of our approach to intellectual property, both for differentiating our products from the rest of the field and for pursuing additional licensing partnerships. At the same time, we are engaged in negotiations on large-scale sequencing collaborations, debt restructuring and equity financing, and on the sale of certain business units and therapeutics programs. Our aim in pursuing all of these opportunities is to position deCODE to capture the commercial potential of our leadership in human genetics," said Kari Stefansson, CEO of deCODE.

    Recent operating highlights include:

    Product Development and Partnerships

    - Celera. Last month, deCODE entered into agreements with Celera
      Corporation under which it has granted Celera non-exclusive worldwide
      licenses to deCODE's genetic markers for increased risk of major
      cardiovascular and metabolic diseases, including heart attack, stroke,
      atrial fibrillation (AF) and type 2 diabetes (T2D). The markers include
      SNPs discovered by deCODE on chromosome 9p21 linked to increased risk
      of heart attack and types of aneurysm, on chromosome 4q25 conferring
   
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SOURCE deCODE genetics Inc
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Related biology technology :

1. deCODE genetics Announces Webcast of Conference Call to Discuss First Quarter 2009 Financial Results
2. Nasdaq Stays Suspension of Trading in deCODE Stock
3. deCODE and Celera Partner to Expand use of deCODE Risk Markers for Heart Attack, Stroke and Diabetes
4. deCODE to Utilize Grace Period for Interest Payment on Senior Convertible Notes
5. deCODE genetics Announces Webcast of Conference Call to Discuss Full-year 2008 Financial Results
6. Multinational deCODE Study Identifies New Link Between Inflammation and Heart Attack
7. deCODE Announces Transfer of the Listing of its Common Stock from Nasdaq Global Market to Nasdaq Capital Market
8. deCODE Discovers First Genetic Variant Conferring Increased Risk of Essential Tremor
9. deCODE Sells Auction Rate Securities
10. Introducing deCODEme Cardio(TM) and deCODEme Cancer(TM)
11. deCODE Discovers Common Genetic Variations Contributing to Low Bone Mineral Density and Risk of Osteoporosis
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