deCODE Conducting Strategic Review to Sharpen the Focus of its Long-ter...( REYKJAVIK Iceland Oct. 15 /- deCO...),Health

REYKJAVIK, Iceland, Oct. 15 /PRNewswire-FirstCall/ -- deCODE genetics (Nasdaq: DCGN) today announced that the company is carrying out a review of its long-term business strategy. Over the past few years deCODE has utilized its capabilities in medicinal chemistry, structural biology and human genetics to develop product and intellectual property portfolios in both therapeutics and DNA-based diagnostics. The goal of this strategic review is to optimize the value of these assets for its shareholders by sharpening the focus of its business, selling non-core assets, securing strategic partnerships, and utilizing the resources generated to underpin product development and marketing efforts in its core business. The company has engaged the Stanford Group Company to assist in evaluating deCODE's strategic alternatives and in executing swiftly on the results of this review through the identification of buyers and partners for non-core business units, programs and intellectual property. deCODE plans to provide an update on this process in its third quarter financial results conference call to be webcast live on November 6.

deCODE also announced that in order to provide more time for the completion of this review and the execution of alternatives including the sale of assets, it has elected to utilize a 30-day grace period for the scheduled October 15 interest payment on its outstanding 3.5% Senior Convertible Notes due 2011.

"We are in the process of creating a smaller, leaner deCODE that will devote its efforts and resources to one line of business. We have created a unique and growing portfolio of intellectual property, as well as a range of products and programs in both our drug development and diagnostics work, and are engaged in
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