IFUL Insightful Corp (MM)

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.