CIPH Ciphergen Biosystems (MM)

FREMONT, Calif., Dec. 15 /PRNewswire-FirstCall/ -- Ciphergen Biosystems, Inc. (NASDAQ:CIPH) today announced that it has selected PrecisionMed, Inc., a contract research organization (CRO) with expertise in the collection and management of human biological samples. PrecisionMed will support Ciphergen in its upcoming clinical trials for its ovarian tumor triage test, including the Ovarian PC1 Biomarker Clinical Trial. "Based on the positive results of our preclinical testing, we are moving forward with a prospective clinical trial for submission to the U.S. Food and Drug Administration (FDA). The selection of a CRO to support our ovarian tumor triage test clinical trial program is an important milestone in our product development efforts," said Gail S. Page, President and CEO of Ciphergen. "We selected PrecisionMed because it will assist us in executing a high-quality, cost-effective clinical program." PrecisionMed will perform the study setup, protocol review, site recruitment, site monitoring, and project management of Ciphergen's clinical trials. "We are pleased to partner with Ciphergen on their clinical program for the ovarian tumor triage test," said John Flax, M.D., President and CEO of PrecisionMed. "There is a critical need for new blood tests that can provide information describing the likelihood that an ovarian tumor is malignant." About Ciphergen's Ovarian Cancer Diagnostic Program Ciphergen has an advanced diagnostic program in ovarian cancer and has developed a panel of biomarkers that provides risk stratification information for ovarian cancer based on a series of studies involving over 2,000 clinical samples from more than five sites. Ciphergen is undertaking a prospective clinical trial to support submission to the FDA for clearance as an in vitro diagnostic. Ciphergen has a strategic alliance with Quest Diagnostics focused on commercializing the ovarian tumor triage test. Quest also has the option to develop and commercialize two additional Ciphergen tests. In addition to developing a diagnostic test designed to distinguish between benign and malignant pelvic masses, studies are underway to predict recurrence of ovarian cancer and to provide additional tools to aid physicians in triaging women considered at high risk of ovarian cancer. Ciphergen's comprehensive diagnostic development program is being conducted with several leading collaborators at The Johns Hopkins School of Medicine, The University of Texas M.D. Anderson Cancer Center, University College London, and the University of Kentucky. About Ovarian Cancer Commonly known as the "silent killer," ovarian cancer leads to approximately 14,000 deaths each year in the United States. Approximately 23,000 new cases are diagnosed each year, with the majority in patients diagnosed with late stage disease where the cancer has spread beyond the ovary. The prognosis is poor in these patients, leading to the high mortality from this disease. A diagnostic test is needed that can provide adequate predictive value to stratify patients with a pelvic mass into high risk of invasive ovarian cancer versus those with low risk. About Ciphergen Ciphergen Biosystems, Inc. is dedicated to the discovery, development and commercialization of novel high-value diagnostic tests that help physicians diagnose, treat and improve outcomes for patients. Ciphergen, along with its prestigious scientific collaborators, has ongoing diagnostic programs in oncology, cardiology and women's health with an initial focus in ovarian cancer. Based in Fremont, California, more information about Ciphergen can be found on the Web at http://www.ciphergen.com/ . Safe Harbor Statement Note Regarding Forward-Looking Statements: This press release contains forward-looking statements. For purposes of the Private Securities Litigation Reform Act of 1995 (the "Act"), Ciphergen disclaims any intent or obligation to update these forward-looking statements, and claims the protection of the Safe Harbor for forward-looking statements contained in the Act. Examples of such forward-looking statements include statements regarding the positive impact of Ciphergen's partners on its clinical programs. Actual results may differ materially from those projected in such forward-looking statements due to various factors, including the possibility that the partnership may not develop as expected. Investors should consult Ciphergen's filings with the Securities and Exchange Commission, including its Form 10-Q filed November 20, 2006, for further information regarding these and other risks related to the Company's business. NOTE: Ciphergen is a registered trademark of Ciphergen Biosystems, Inc. DATASOURCE: Ciphergen Biosystems, Inc. CONTACT: investors, Sue Carruthers of Ciphergen Biosystems, Inc., +1-510-505-2233; or media, Daryl Messinger of WeissComm Partners, +1-415-999-2361, for Ciphergen Biosystems, Inc. Web site: http://www.ciphergen.com/

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