Insightful Awarded Research Contracts Worth Nearly $1.4 Million with National Cancer Institute
May 16 2006 - 9:00AM
Business Wire
Insightful to Develop Software to Aid in Biomarker Identification;
One of the Most Important Fields in Cancer Research Insightful
Corporation (Nasdaq:IFUL), a leading provider of predictive
analytics and reporting solutions, announced today that the
National Cancer Institute has awarded Insightful two Phase II
contracts worth $1,394,027. The contracts call for Insightful to
develop over the next two years analytic methods to identify
protein biomarkers and to create S+Proteome(TM), a flexible and
easy-to-use software environment for processing and analyzing
protein mass spectral data. These projects have been funded in
whole or in part with Federal funds from the National Cancer
Institute, National Institutes of Health, Department of Health and
Human Services under Contracts No. HHSN261200533002C and
HHSN261200533003C. "Continuing attempts to reliably diagnose cancer
earlier have led researchers to protein analysis (proteomics) via
mass spectrometry," said Dr. Jill R. Goldschneider, research
director of Insightful. "We are extremely pleased to be awarded
these phase II contracts by the National Cancer Institute to
develop technology solutions that will aid researchers in
identifying biomarkers in their effort to detect cancer in its
earliest stages." The phase II contracts call for Insightful to
develop analytic methods to identify protein biomarkers using
innovative data processing, data mining and pattern recognition
techniques. The contracts also call for Insightful to create
S+Proteome, a flexible and easy-to-use software environment for
processing and analyzing protein mass spectral data. S+Proteome is
expected to utilize Insightful's S-PLUS(R) and S+ArrayAnalyzer(R)
software products. S-PLUS is a sophisticated software platform for
statistical data analysis and predictive analytics. S-PLUS is
designed to support analysis of very large data sets and the rapid
development of analytic applications that integrate advanced
statistical methods within existing business processes.
S+ArrayAnalyzer is a statistically rigorous and highly adaptable
microarray analysis software product designed to enable powerful
yet simple analyses of complex microarray data. Insightful expects
its combined software solution for the National Cancer Institute to
provide a comprehensive toolset for assessing data quality and
creating state-of-the-art graphics. As part of the phase II
contracts, Insightful will also write a book on the analysis of
mass spectra data using S-PLUS and S+Proteome. Funding from the
award will be recorded in the company's financial statements as a
reduction to research and development expense. ABOUT INSIGHTFUL
Insightful Corporation (Nasdaq:IFUL) is a provider of predictive
analytics and reporting solutions. Insightful products S-PLUS(R),
Insightful Miner(TM), S-PLUS(R) Server and InFact(R) provide
companies with the knowledge to act(TM). Insightful consulting
services provide specialized expertise and proven processes for the
design, development and deployment of customized solutions. The
company has been delivering industry-leading, high-ROI solutions to
thousands of companies in financial services, life sciences,
biotechnology, telecommunications, and manufacturing, plus
government and research institutions for more than 18 years.
Headquartered in Seattle, Insightful has offices in North Carolina,
France, Switzerland, and the United Kingdom, with distributors
around the world. For more information, visit www.insightful.com,
email info@insightful.com or call 1-800-569-0123. Note to Investors
-- Forward-Looking Statements This press release contains
forward-looking statements, including statements about expected
government funding and about the potential performance, features,
and advantages of future software products. Forward-looking
statements are based on the judgment and opinions of management at
the time the statements are made. Inaccurate assumptions and known
and unknown risks and uncertainties can affect the accuracy of
forward-looking statements. Actual results could differ materially
from those expressed or implied by the forward-looking statements
for a number of reasons, including, without limitation, the risk
that our new products do not perform as designed and expected. More
detailed information regarding these and other factors that could
affect actual results is set forth in our filings with the
Securities and Exchange Commission, including our most recent
report on Form 10-QSB. You should not unduly rely on these
forward-looking statements, which apply only as of the date of this
release. We undertake no obligation to update publicly any
forward-looking statements to reflect new information, events or
circumstances after the date of this release or to reflect the
occurrence of anticipated events.
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