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The USDA Animal and Plant Health Inspection Service (APHIS) agency awardedIbis up to $4.2 million to fund the utilization of Ibis' commercial influenzaassay to identify and differentiate avian influenza strains, to distinguishhigh pathogenicity from low pathogenicity strains, and to aid in the trackingof avian influenza transmissions. The contract also provides funding for thedevelopment of assays to detect a broad range of additional agriculturalpathogens that are considered important to animal health and that could have asignificant impact on the U.S.'s agricultural economy.
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"We are pleased with the continuing support from our government partnersand the opportunity to expand our commercial applications, especially in areasthat are vital to our health and economy such as agriculture. As we workclosely with the USDA to develop additional products that can aid in themonitoring and surveillance of avian flu, we will expand our detection assaysto meet the needs of the agricultural community," said Michael Treble,President of Ibis and Vice President of Isis.
The NIJ also awarded Ibis a new two-year project that will fund thedevelopment and implementation of next-generation human forensics markers,which are measured on the Ibis T5000(TM) Biosensor System. In addition to thenew USDA and NIJ contracts, Ibis also received new contracts from othergovernment agencies that will fund expansion of pathogen detection andidentification assays and use Ibis' assay services laboratory.
Additionally, with Lovelace Respiratory Research Institute (LRRI), Ibishas successfully completed the first year of a National Institutes of Healthgrant in which the Ibis influenza assay characterized over 2,000 tissueextracts to study animal models of influenza transmission. Through LRRI, Ibishas been awarded the next year of funding to continue these efforts.
"The utilization of the Ibis platform by our existing partners and thecultivation of new projects with new government agencies is a testament to thebroad applicability of our technology. The enthusiasm of our governmentpartners to invest in our technology to meet their objectives in homelandsecurity, animal and human health, and human forensics illustrates the breadthand depth of the Ibis platform," said Steven A. Hofstadler, Ph.D., VicePresident of Ibis Research.
"To date, we have earned approximately $73 million in revenue to funddevelopment of our biosensor system and our diverse commercial assays in manydifferent areas including biodefense and infectious disease surveillance. Weare now in the position to continue to fulfill our government contracts whilefocusing on clinical applications with Abbott and quickly moving into largercommercial markets," concluded Mr. Treble.
ABOUT IBIS T5000 BIOSENSOR SYSTEM AND IBIS BIOSCIENCES, INC.
Ibis Biosciences, Inc., a majority-owned subsidiary of IsisPharmaceuticals, has developed and is commercializing the Ibis T5000(TM)Biosensor System for rapid identification and characterization of infectiousagents. The Ibis T5000 is currently intended for research use only and notfor use in diagnostic procedures. It is capable of identifying virtually allbacteria, viruses and fungi, and can provide information about drugresistance, virulence and strain type of these pathogens. Commercialapplications for the Ibis T5000 Biosensor System include epidemiologicsurveillance, monitoring of pandemic diseases, identification of emerging orpreviously unknown pathogens, forensic characterization of human samples,identification of sources of hospital-associated infections, and, in thefuture, human infectious disease diagnostics. Ibis develops, manufactures andmarkets Ibis T5000 instruments and assay kits. Additional information aboutIbis can be found by selecting the Ibis link from Isis' homepage athttp://www.isispharm.com.
ABOUT ISIS PHARMACEUTICALS, INC.
Isis is exploiting its expertise in RNA to discover and develop noveldrugs for its product pipeline and for its partners. The Company hassuccessfully commercialized the world's first antisense drug and has 19 drugsin development. Isis' drug development programs are focused on treatingcardiovascular and metabolic diseases. Isis' partners are developingantisense drugs invented by Isis to treat a wide variety of diseases. IbisBiosciences, Inc., Isis' majority-owned subsidiary, is developing andcommercializing the Ibis T5000(TM) Biosensor System, a revolutionary system toidentify infectious organisms. Isis is a joint owner of Regulus TherapeuticsLLC, a joint venture focused on the discovery, development andcommercialization of microRNA therapeutics. As an innovator in RNA-based drugdiscovery and development, Isis is the owner or exclusive licensee of over1,500 issued patents worldwide. Additional information about Isis isavailable at http://www.isispharm.com.
This press release includes forward-looking statements regarding thedevelopment and commercialization of the T5000 Biosensor System, Ibis'technology, and the revenue potential of certain government contracts andgrants. Any statement describing Isis' goals, expectations, financial orother projections, intentions or beliefs is a forward-looking statement andshould be considered an at-risk statement, including those statements that aredescribed as Isis' goals or projections. Such statements are subject tocertain risks and uncertainties, particularly those inherent in the process ofdiscovering, developing and commercializing drugs that are safe and effectivefor use as human therapeutics, in developing and commercializing systems toidentify infectious organisms that are effective and commercially attractive,and in the endeavor of building a business around such products. Isis'forward-looking statements also involve assumptions that, if they nevermaterialize or prove correct, could cause its results to differ materiallyfrom those expressed or implied by such forward-looking statements. AlthoughIsis' forward-looking statements reflect the good faith judgment of itsmanagement, these statements are based only on facts and factors currentlyknown by Isis. As a result, you are cautioned not to rely on these forward-looking statements. These and other risks concerning Isis' programs aredescribed in additional detail in Isis' annual report on Form 10-K for theyear ended December 31, 2007, and its most recent quarterly report on Form 10-Q, which are on file with the SEC. Copies of these and other documents areavailable from the Company.
In this press release, unless the context requires otherwise, "Isis,""Company," "we," "our," and "us" refers to Isis Pharmaceuticals and itssubsidiaries.
Isis Pharmaceuticals is a registered trademark of Isis Pharmaceuticals,Inc. Ibis Biosciences and Ibis T5000 are trademarks of Ibis Biosciences, Inc.Regulus Therapeutics is a trademark of Regulus Therapeutics LLC.
SOURCE Isis Pharmaceuticals, Inc.
