Ciphergen Announces Second Development Program With Quest Diagnostics
January 03 2007 - 9:00AM
PR Newswire (US)
Peripheral Artery Disease Diagnostic to be Jointly Developed
FREMONT, Calif., Jan. 3 /PRNewswire-FirstCall/ -- Ciphergen
Biosystems, Inc. (NASDAQ:CIPH) today announced that Quest
Diagnostics Incorporated (NYSE:DGX) has accepted the second
development plan from Ciphergen under their existing strategic
alliance agreement. In addition to the current ovarian tumor triage
test, Quest Diagnostics will now also assist Ciphergen in the
development of a blood-based assay for the detection of peripheral
artery disease (PAD). "We are pleased that Quest Diagnostics has
chosen the development of this PAD diagnostic test as the second of
three programs that we will jointly develop," said Gail S. Page,
President and CEO of Ciphergen. "The first program under our
strategic alliance, an ovarian tumor triage test, is making
excellent progress." Ciphergen is working with Stanford University
to develop a blood test that will help physicians in the diagnosis
of PAD. Similar to cardiovascular disease, PAD is caused by the
buildup of fat and cholesterol, known as plaque, in the peripheral
arteries and disrupts normal bloodflow leading to stenosis, an
embolism or thrombus formation. Peripheral artery disease affects 8
to 12 million Americans. Research has shown that nearly 75 percent
of people with PAD do not experience symptoms. Proper diagnosis and
early treatment can significantly improve the prognosis for
patients with this debilitating disease. Ciphergen's comprehensive
diagnostic development programs are being conducted with several
leading collaborators at Stanford University, The Johns Hopkins
School of Medicine, The University of Texas M.D. Anderson Cancer
Center, University College London, and the University of Kentucky.
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 progress of our
development of diagnostic tests for ovarian cancer and peripheral
artery disease. Actual results may differ materially from those
projected in such forward-looking statements due to various
factors, including the possibility that future development efforts
may not proceed as anticipated. 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, Lori Murray of WeissComm Partners,
+1-415-946-1070, for Ciphergen Biosystems, Inc. Web site:
http://www.ciphergen.com/
Copyright
Ciphergen Biosystems (NASDAQ:CIPH)
Historical Stock Chart
From Apr 2024 to May 2024
Ciphergen Biosystems (NASDAQ:CIPH)
Historical Stock Chart
From May 2023 to May 2024