FREMONT, Calif., June 8 WaferGen Biosystems, Inc. (OTC Bulletin Board: WGBS), a leading developer of state-of-the-art genome analysis systems, today announced the signing of an exclusive distribution agreement for the company's SmartChip Real-Time PCR System with Takeda Rika Kogyo Co., Ltd., a leading distributor of innovative products and services in the life science markets within Japan.
"Distribution of the SmartChip System to customers in Japan is an important step of our commercialization strategy to expand customer adoption of the SmartChip System into new large target markets," said Alnoor Shivji, chairman and CEO of WaferGen. "We look forward to a continued strong relationship with Takeda Rika Kogyo to enable the success of SmartChip in the important Japanese market."
"We recognize the value of the SmartChip System to advance genome analysis research in the growing Japanese market, and are so confident in its value that we have committed to a sales agreement with WaferGen," said Takuto Takeda, president of Takeda Rika Kogyo. "By improving biomarker identification and validation, we believe that the SmartChip System will make a significant difference by enabling scientists to more quickly and effectively understand disease at the molecular level in order to target therapies."
The SmartChip Real-Time PCR System is a genome analysis platform that combines the high-throughput capability and cost efficiencies of existing microarrays, with the sensitivity and accuracy of real-time PCR, offering identification and validation capability in a single platform. The result will be the ability to conduct improved gene expression research at a fraction of the time and cost currently produced by existing instrument systems. The WaferGen SmartChip System will provide a number of key ease-of-use features including content-ready chips with gene panels optimized for microRNA, cancer, and whole genome.
The company is in the early stages of commercializing the SmartChip System, and is currently offering the SmartChip System and the SmartChip Gene Expression Profiling Services as part of its revenue-generating Early-Access Program. The SmartChip System includes the 5,184-assay SmartChip, the SmartChip Cycler, and SmartChip Nanodispenser or Multi-Sample Nanodispenser for investigating candidate genes and microRNA panels for associate changes within disease states. The SmartChip Gene-Expression Profiling Services are provided to universities, research hospitals, pharmaceutical and biotechnology companies by WaferGen scientists at the company's headquarters facility in Fremont, Calif.
About Takeda Rika Kogyo
Takeda Rika Kogyo, founded in 1948, is a leading distributor in Japan, providing researchers in academic institutes and industry with innovative technological solutions. Takeda offers a wide variety of unique scientific products from multiple suppliers through its distribution channels developed by its experienced marketing team. Takeda Rika Kogyo is aggressively investing its resources into development of the life science field to use its capabilities to bring state-of-the-art technologies from countries outside Japan to leading Japanese scientists.
WaferGen Biosystems, Inc. is a leader in the development, manufacture and sale of state-of-the-art systems for genome analysis for the life science and pharmaceutical industries. Based on collaborations established with leading research institutions, WaferGen believes that the SmartChip Real-Time PCR System is positioned as the platform of choice for biomarker identification and validation. Combined with next-generation chemistry and optimized assays being developed by WaferGen under the guidance of David Gelfand, Ph.D., Chief Scientific Officer and one of the pioneers of PCR, this innovative system promises to deliver significant speed and cost advantages to researchers in the gene expression and genotyping markets.
This press release contains certain "forward-looking statements". Such statements include statements relating to the expected benefits to the company of the distribution agreement with Takeda Rika Kogyo and the distribution of the SmartChip System in Japan, the expected benefits and advantages of the SmartChip technology to gene expression research and other applications, the expected throughput levels of the SmartChip Real-Time PCR System,, and other statements relating to future events or to the company's future financial performance and are not historical facts, including statements which may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words.
Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the control of the company. Actual results may differ materially from the expectations contained in the forward-looking statements. Factors that may cause such differences include the risks that: (i) the company may be unsuccessful in commercially developing its products or in achieving market acceptance of new and relatively unproven technologies; (ii) the company will need to raise additional capital to meet its business requirements in the future and the company may not be able to do so on reasonable terms or at all; (iii) the company's proprietary intellectual property rights may not adequately protect its products and technologies; and (iv) the company expects intense competition in its target markets, including from companies that have much greater resources than the company, and there can be no assurance that the company will be able to compete effectively. More detailed information about the company and the risk factors that may affect the realization of forward-looking statements is set forth in the company's filings with the Securities and Exchange Commission, including the company's Annual Report on Form 10-K for the year ended December 31, 2009 and the Form 10Q for the quarter ended March 31, 2010. Investors and security holders are urged to read these documents free of charge on the SEC's web site at www.sec.gov. The company does not undertake to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.
Contact: WaferGen Mona Chadha firstname.lastname@example.org Or Joyce Strand email@example.com 510-651-4450
SOURCE WaferGen Biosystems, Inc.