HTG Molecular Diagnostics Expands Its IVD Agreement With Illumina to Increase the Number of Test Kits
June 05 2017 - 8:00AM
HTG Molecular Diagnostics, Inc. (Nasdaq:HTGM), a provider of
instruments, reagents and services for molecular profiling
applications, announced that it has amended and restated its IVD
Test Development and Component Supply Agreement with Illumina to,
among other things, extend the agreement term and increase the
number of in-vitro diagnostic (IVD) test kits that may be developed
for use with Illumina sequencing technology.
“We are pleased to have extended our IVD development agreement
with Illumina,” stated TJ Johnson, President and Chief Executive
Officer of HTG. “Our HTG EdgeSeq research use only products that
utilize Illumina sequencer technology have been well received by
customers, which leads us to believe customers can easily adopt our
IVD kit portfolio planned for development under this
agreement.”
About HTG:
Headquartered in Tucson, Arizona, the mission of HTG Molecular
Diagnostics (HTG) is to empower precision medicine at the local
level. In 2013 the company commercialized its first instrument
platform and a portfolio of RNA assays that leveraged HTG's
original proprietary nuclease protection chemistry. Continuous
improvement led to the 2014 launch of the company’s HTG EdgeSeq
product line, which automates sample and targeted library
preparation for next-generation sequencing. Additional information
is available at www.htgmolecular.com.
Safe Harbor Statement:
Statements contained in this press release regarding matters
that are not historical facts are "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995, including statements about the expected benefits of our
Amended and Restated IVD Test Development and Component Supply
Agreement (Agreement) with Illumina, Inc., including anticipated
customer adoption of the in vitro diagnostic (IVD) kit portfolio
planned for development under the Agreement. Words such as
"believes," "anticipates," "plans," "expects," "intends," "will,"
"goal," "potential" and similar expressions are intended to
identify forward-looking statements, though not all forward-looking
statements necessarily contain these identifying words. These
forward-looking statements are based upon management's current
expectations, are subject to known and unknown risks, and involve
assumptions that may never materialize or may prove to be
incorrect. Actual results and the timing of events could differ
materially from those anticipated in such forward-looking
statements as a result of various risks and uncertainties,
including, without limitation, risks associated with the process of
developing and commercializing IVD products, the risk that
customers may not adopt IVD products developed under the Agreement
easily, at all or at the rate we expect, and risks related to our
ability to achieve and sustain sufficient market acceptance, and
the capabilities of our products to keep pace with rapidly changing
technology and customer requirements. These and other factors are
described in greater detail in our filings with the Securities and
Exchange Commission, including without limitation our Quarterly
Report on Form 10-Q for the quarter ended March 31, 2017. All
forward-looking statements contained in this press release speak
only as of the date on which they were made, and we undertake no
obligation to update such statements to reflect events that occur
or circumstances that exist after the date on which they were
made.
Contact:
Westwicke Partners
Jamar Ismail
Phone: 415-513-1282
Email: jamar.ismail@westwicke.com
TJ Johnson
President / CEO
HTG Molecular Diagnostics
Phone: 520-547-2827 x130
Email: tjjohnson@htgmolecular.com
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