Specialty Laboratories Collaborates With Siemens and SEQUENOM on Molecular Diagnostics
Apr 5, 2005
Specialty Laboratories, Inc. (NYSE: SP) will participate as a U.S. site for a joint working group on molecular diagnostics initiated by SEQUENOM, Inc. (NASDAQ: SQNM) and Siemens Medical Solutions of Siemens AG (NYSE: SI). SEQUENOM's MassARRAY® Compact System, a genetics analysis platform, will be installed at Specialty's new clinical laboratory facility to benchmark the MassARRAY System in a molecular diagnostic testing environment.
This collaboration combines the specialized assets and resources of the three organizations. Siemens Medical Solutions, a world leader in medical instrumentation and medical information technology, will contribute project funding and engineering expertise. Specialty, a leading provider of molecular and high complexity clinical testing, will contribute its expertise in clinical assay validation and workflow analysis. SEQUENOM will provide its MassARRAY Compact, consumables, technical support and analytically validated assays for specific diagnostic tests.
The partnership between Siemens and SEQUENOM was announced in late 2004 when the two companies stated they would work in concert with participating reference laboratories to execute a comprehensive functional requirement analysis for a molecular diagnostics platform.
The first phase of the joint program is a benchmarking study evaluating the analytical data quality and current workflow of the MassARRAY System in laboratories certified under Clinical Laboratory Improvement Amendments (CLIA). The three organizations expect the benchmarking study to be completed by the fourth quarter 2005.
"We intend to investigate the ability of SEQUENOM's MassARRAY System to perform multiple clinically valuable molecular diagnostic tests in a high volume clinical laboratory environment," said Mohammad Naraghi, M.D., Ph.D., Senior Vice President of Business Development at Siemens. "Specialty is a leader in bringing novel tests to market, and we believe we have found an excellent partner to initiate the benchmarking studies and evaluate a new molecular diagnostics platform."
"Siemens is a proven leader in the field of medical instrumentation and medical information technology, and brings substantial clinical and technical expertise to the working group. Specialty believes that Siemens' vision of integrating novel molecular diagnostic platforms with state-of-the-art information technology and clinical imaging will be at the forefront of next-generation diagnostic applications," stated Tom England, Ph.D., Senior Director, Business Development & Clinical Trials of Specialty. "This important collaboration also marks an expansion of Specialty's long-standing relationship with SEQUENOM. Specialty looks forward to assessing the utility of the MassARRAY Compact for a broad range of applications in the benchmarking study with Siemens and for additional applications, such as quantitative gene expression analysis and enhanced multiplexing, in other studies."
"Siemens shares our vision of integrated, individualized health care based on the intelligent use of cutting edge molecular diagnostic testing, and Specialty brings real world diagnostic expertise, analytical rigor and innovative spirit to the collaboration," stated Steve Zaniboni, acting Chief Executive Officer and Chief Financial Officer of SEQUENOM. "While we have a strong reputation as a provider of high quality products to the genetic research market, the benchmarking study is aimed at validating and confirming the utility of the MassARRAY System as a universal platform for a broad range of applications in diagnostics and molecular medicine markets."
About Specialty Laboratories
Specialty Laboratories performs highly advanced clinical tests used by physicians to diagnose, monitor and treat disease. Offering an extensive menu of specialized testing options for more than ten major medical specialties, Specialty provides hospitals, laboratories and specialist physicians a single-source solution to their non-routine testing needs. By focusing on complex and technologically advanced testing, Specialty does not directly compete with clients for routine testing work and offers clinical testing services that generally complement the laboratory capabilities of its clients. Committed to outstanding client service and support, Specialty leads the industry with interconnectivity solutions for the efficient transmission of test orders and results. Distinguished R&D capabilities support Specialty's leadership position in specialized clinical testing. Through internal research programs and technology partnerships, Specialty develops new and enhanced tests for reliable and cost-effective patient assessment. Specialty's Web address is www.specialtylabs.com.
About Siemens Medical Solutions
Siemens Medical Solutions of Siemens AG (NYSE: SI), with headquarters in Malvern, Pennsylvania and Erlangen, Germany, is one of the largest suppliers to the healthcare industry in the world. The company is known for bringing together innovative medical technologies, healthcare information systems, management consulting, and support services, to help customers achieve tangible, sustainable clinical and financial outcomes. Employing approximately 31,000 people worldwide and operating in more than 120 countries, Siemens Medical Solutions reported sales of 7.07 billion EUR, orders of 8.12 billion EUR and group profit of 1.05 billion EUR for fiscal 2004. More information can be obtained by visiting http://www.usa.siemens.com/medical-pressroom.
SEQUENOM is committed to providing the best genetic analysis products that translate genomic science into superior solutions for molecular medicine and biomedical research. The Company's proprietary MassARRAY System is a high-performance DNA analysis platform that efficiently and precisely measures the amount of genetic target material and variations therein. The system is able to deliver reliable and specific data from complex biological samples and from genetic target material that is only available in trace amounts. SEQUENOM's Web address is www.sequenom.com.
SEQUENOM® and MassARRAY® are registered trademarks of SEQUENOM, Inc.
Except for the historical information contained herein, the matters set forth in this press release, including statements concerning the objectives of the joint working group and molecular diagnostics evaluation arrangement between Siemens, SEQUENOM, and Specialty, the results thereof, related plans and activities described herein, Siemens' vision of integrating novel molecular diagnostic platforms with state-of-the-art information technology and clinical imaging, SEQUENOM's vision of integrated individualized health care, and statements including the words "will" "expect" or "intend," are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward- looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the risks and uncertainties associated with the development and commercialization of any new technology, including SEQUENOM's technologies, and other risks detailed from time to time in SEQUENOM's SEC filings, including SEQUENOM's Annual Report on Form 10-K for the year ended December 31, 2004. These forward-looking statements are based on current information that is likely to change and speak only as of the date hereof.Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20040415/SQNMLOGO
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