Caliper Awarded Additional Task Order for EPA ToxCast Program
HOPKINTON, Mass., May 14 /PRNewswire-FirstCall/ -- Caliper Life Sciences, Inc. (Nasdaq: CALP), a leading provider of tools and services for drug discovery and life sciences research, today announced that its Caliper Discovery Alliances and Services (CDAS) unit has been awarded a new funding commitment for $2.9 million under its contract with the Environmental Protection Agency (EPA) for the EPA's ToxCast screening program. Together with an initial Phase II task order awarded in November 2009, this new task order increases the cumulative funding Caliper has been awarded under Phase II of the ToxCast program to $4.7 million.
"This latest EPA task order improves the visibility we have for achieving our CDAS unit revenue projections in the second half of 2010, and should provide us good momentum into 2011," commented Kevin Hrusovsky, President and CEO of Caliper.
The long term goal of the EPA's ToxCast program is to identify in vitro assays that can predict the toxicity of chemical compounds in humans and animals, by comparing the results of in vitro testing conducted by Caliper and others with the toxicity data in the EPA's in vivo toxicity database, ToxRefDB, and then to employ those predictive tests to supplement or replace existing animal-based tests reducing cost and improving the speed of regulatory approval of new environmental chemicals.
"Phase II of the ToxCast program will involve screening another 700 environmental compounds through a wide set of assays. We expect to begin the Phase II effort within the next several months after the Phase II compound library is delivered to us by the EPA," commented David Manyak, Executive Vice President, Drug Discovery Services. "Our work with the EPA is a strong validation of our services and the industry is taking notice. We have seen increased interest from the pharmaceutical, chemical, and cosmetic industries in CDAS commercial services based on in vitro toxicology assays represented in the ToxCast panel."
About Caliper Life Sciences
Caliper Life Sciences is a premier provider of cutting-edge technologies enabling researchers in the life sciences industry to create life-saving and enhancing medicines and diagnostic tests more quickly and efficiently. Caliper is aggressively innovating new technology to bridge the gap between in vitro assays and in vivo results, enabling the translation of those results into cures for human disease. Caliper's portfolio of offerings includes state-of-the-art microfluidics, lab automation and liquid handling, optical imaging technologies, and discovery and development outsourcing solutions. For more information please visit www.caliperLS.com.
The statements in this press release regarding future events, including statements regarding Caliper's expectations regarding its future role in the EPA's ToxCast program, Caliper's belief that its funded activities under the ToxCast program will continue to expand, and Caliper's belief that the recently received task order from the EPA improves the visibility it has for achieving its CDAS unit revenue projections in the second half of 2010, and should provide good momentum into 2011, are "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements as a result of a number of factors, including that the EPA may stop or curtail funding under its ToxCast screening program, Caliper may experience unexpected delays in its receipt of compounds from the EPA for testing under the ToxCast program, and Caliper's expectations regarding demand for its products and services may not materialize if capital spending by Caliper's customers declines, if competitors introduce new competitive products, or if Caliper is unable to convince potential customers regarding the superior performance of its drug discovery and imaging systems and other products. Further information on risks faced by Caliper are detailed under the caption "Risks Related To Our Business" in Caliper's Annual Report on Form 10-K for the year ended December 31, 2009. Our filings are available on a web site maintained by the Securities and Exchange Commission at http://www.sec.gov. Caliper does not undertake any obligation to update forward-looking or other statements in this release or the conference call.
NOTE: Caliper is a registered trademark of Caliper Life Sciences, Inc. ToxCast is a trademark of the Environmental Protection Agency.
SOURCE Caliper Life Sciences, Inc.