CIPH Ciphergen Biosystems (MM)

Ciphergen Announces Biomarker Research Collaboration With Bayer Pharmaceuticals Corporation Research to Concentrate on Biomarkers Predictive of Response to Cancer Therapy FREMONT, Calif., June 27 /PRNewswire-FirstCall/ -- Ciphergen Biosystems, Inc. (NASDAQ:CIPH) announced today that it has signed a collaboration agreement with Bayer Pharmaceuticals Corporation*. The research will concentrate on identifying biomarkers and developing an assay that may be used in a clinical trial in cancer. Under terms of the agreement, Ciphergen will analyze patient samples from Phase II trials at Ciphergen's Pharmaceutical Biomarker Discovery Center(R) laboratory in Malvern, Pennsylvania using its proprietary SELDI-TOF-MS platform and a novel method for enriching low-abundance proteins in biological fluids. Ciphergen and Bayer will collaborate in the statistical analysis of the data to identify biomarkers predictive of response to a Bayer compound in development. Financial terms were not disclosed but include upfront fees and milestone payments. "This agreement expands our business initiative at Ciphergen to form collaborations with pharmaceutical companies to accelerate and streamline clinical development of new drugs through the identification of important biomarkers of drug response," stated William E. Rich, President and CEO of Ciphergen. "The relationship with Bayer allows them to access the most advanced elements of our proteomic biomarker discovery platform with the goal of converting this research into a clinical assay that can potentially be used in upcoming efficacy trials." About Ciphergen Ciphergen's Diagnostics Division is dedicated to the discovery of protein biomarkers and panels of biomarkers and their development into protein molecular diagnostic tests that improve patient care; and to providing collaborative R&D services through its Biomarker Discovery Centers(R) for biomarker discovery for new diagnostic tests as well as pharmacoproteomic services for improved drug toxicology, efficacy and theranostic assays. Ciphergen's Biosystems Division develops, manufactures and markets a family of ProteinChip(R) Systems and services for clinical, research, and process proteomics applications. ProteinChip Systems enable protein discovery, characterization, identification and assay development to provide researchers with predictive, multi-marker assay capabilities and a better understanding of biological function at the protein level. Additional information about Ciphergen can be found at http://www.ciphergen.com/. Safe Harbor Statement Note Regarding 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 potential use of biomarkers in clinical trials that might predict response to an anti-cancer drug, the diagnostic tests that Ciphergen Diagnostics is developing, the predictive diagnostic value of protein biomarkers, and the expectation that protein multi-marker tests will improve patient care. Actual results may differ materially from those projected in such forward-looking statements due to various factors, including ProteinChip technology's ability to successfully discover, validate and assay biomarkers and patterns of biomarkers that are predictive of drug response or that have diagnostic utility, and our ability to protect and promote our proprietary technologies. Investors should consult Ciphergen's filings with the Securities and Exchange Commission, including its Form 10-Q dated May 10, 2005, for further information regarding these and other risks of the Company's business. NOTE: Ciphergen, ProteinChip and Biomarker Discovery Center are registered trademarks of Ciphergen Biosystems, Inc. *Bayer Pharmaceuticals Corporation is an entity of Bayer HealthCare's Pharmaceuticals Division. DATASOURCE: Ciphergen Biosystems, Inc. CONTACT: Sue Carruthers, Investor Relations, Ciphergen Biosystems, Inc., +1-510-505-2233 Web site: http://www.ciphergen.com/

Copyright