OMAHA, Neb., March 5 Transgenomic, Inc.(OTC Bulletin Board: TBIO), a leading global genetic analysis company, todayannounced that it has entered into agreements with two major Pharmaceuticalcompanies for three Phase II trials representing more than $500,000 in thefirst half of 2008.
"These new contracts and our growing pharmaceutical partnerships andproject commitments reflect increasing customer validation of our uniquemutation discovery and detection service capabilities," said Craig Tuttle,Transgenomic President and Chief Executive Officer. "We are focused ongenerating continued strong momentum in our Pharmacogenomics business and willcontinue fueling this growth through the recent addition of new businessdevelopment professionals to expand our selling efforts. To complement ourmutation detection expertise, we also have strong capabilities in biomarkerdevelopment and mutation detection in cancer pathway genes which will aid inthe development of true personalized medicine for our pharma partners."
Transgenomic is a global biotechnology company that provides uniqueproducts and services for automated high sensitivity genetic variation andmutation analysis. Their offerings include systems, products, discovery andlaboratory testing services to the academic and medical research, clinicallaboratory and pharmaceutical markets in the fields of pharmacogenomics andpersonalized medicine. Specific offerings include WAVE(R) DHPLC Systems,related consumables and assay kits, cytogenetics automated systems,Transgenomic Molecular Clinical Reference Laboratory and PharmacogenomicsResearch Services. Transgenomic's two laboratory services divisions utilizethese technologies and expertise to provide a menu of mutation scanning testsfor over 700 cancer-associated genes and more than 60 validated diagnostictests to meet the needs of pharmaceutical and biotech companies, research andclinical laboratories, physicians and patients. For more information about theinnovative systems, products and services offered by Transgenomic, pleasevisit: http://www.transgenomic.com.
Transgenomic Cautionary Statements
Certain statements in this press release constitute "forward-lookingstatements" of Transgenomic within the meaning of the Private SecuritiesLitigation Reform Act of 1995, which involve known and unknown risks,uncertainties and other factors that may cause our actual results to bematerially different from any future results, performance or achievementsexpressed or implied by such statements. Forward-looking statements include,but are not limited to, those with respect to management's current views andestimates of future economic circumstances, industry conditions, companyperformance and financial results, including the ability of the Company togrow its involvement in the diagnostic products and services markets. Theknown risks, uncertainties and other factors affecting these forward-lookingstatements are described from time to time in Transgenomic's reports to theSecurities and Exchange Commission. Any change in such factors, risks anduncertainties may cause the actual results, events and performance to differmaterially from those referred to in such statements. Accordingly, the companyclaims the protection of the safe harbor for forward-looking statementscontained in the Private Securities Litigation Reform Act of 1995 with respectto all statements contained in this press release. All information in thispress release is as of the date of the release and Transgenomic does notundertake any duty to update this information, including any forward-lookingstatements, unless required by law.
SOURCE Transgenomic, Inc.