Lumera Signs New Agreement with Institute for Systems Biology to Address Cancer Detection
October 04 2006 - 8:45AM
Business Wire
Lumera Corporation (NASDAQ:LMRA), the world�s leading provider of
light applied nanotechnology, announced an expanded collaboration
agreement with the Institute for Systems Biology (ISB), an
internationally renowned non-profit research institute dedicated to
the study and application of systems biology. The revised
collaboration agreement will focus on detection methods for an
array of diagnostic biomarkers aimed at various types of cancer.
Today�s announcement extends an agreement between Lumera and ISB
announced in February of 2005. ISB was the first academic
institution to test Lumera�s ProteomicProcessor�. �We have been
particularly pleased with the flexibility and functionality of
Lumera�s ProteomicProcessor� instrument and their NanoCapture�
chips,� said Dr. Leroy Hood, president and co-founder of ISB and a
world renowned visionary in the field of molecular immunology,
biotechnology and genomics. �We look forward to an expanded
relationship with Lumera and continuing to utilize this technology
on our quest to usher in a new era of predictive, preventive, and
personalized medicine.� Since February of 2005, Harvard Medical
School and Harvard Institute of Proteomics, Baylor University and
the Medical University of South Carolina have joined ISB in beta
testing Lumera�s ProteomicProcessor�. The instrument has evolved as
a result of their feedback and the company expects to launch a
refined commercial ProteomicProcessor� product in January at the
CHI PepTalk conference, an internationally recognized forum for
protein arrays and detection technologies. �We have spent time
gathering the necessary feedback and seals of approval from
renowned experts and research institutions as it relates to our
ProteomicProcessor� and NanoCapture� microarrays,� said Lumera CEO
Tom Mino. �It has been a deliberate and necessary process in
developing and readying our proprietary product line for the
market. We are now nearing the commercial launching pad.� �The ISB
application of discovering cancer biomarkers in serum is exciting
and provides significant potential for future applications,� said
Dr. Tim Londergan, director of Lumera�s Bioscience Business Unit.
�Utilizing partners such as ISB to develop new applications enables
us to build a pipeline of high value products, while allowing our
internal product development to remain focused on near term market
demands.� The initial commercial launch of the ProteomicProcessor�
and NanoCapture� microarrays will be focused on the therapeutic
antibody screening market, where there is a significant unmet
demand for kinetic and affinity analysis in a high throughput
format. Therapeutic Antibodies are a class of compounds that have
enjoyed a great deal of success, perhaps the most notable is a
cancer therapy from Genentech called Rituxan, which had U.S. sales
of $1.8 billion in 2005. Lumera�s ProteomicProcessor� brings value
in terms of offering kinetic and affinity analysis in a high
throughput format specifically to the screening process, an early
part of the drug discovery model. It is envisioned that with
Lumera�s technology, drug discovery will be streamlined by enabling
researchers to provide a clearer picture of a drug�s true potential
at an earlier stage of development. Some experts estimate the
market for screening of therapeutic antibodies to be in the range
of $400 million. (source: Frost & Sullivan). About Lumera:
Lumera is a leader in the emerging field of nanotechnology. The
company designs proprietary molecular structures and polymer
compounds for the bioscience and communications/computing
industries, both of which represent large market opportunities. The
company also has developed proprietary processes for fabricating
such devices. For more information, please visit www.lumera.com.
About ISB: The Institute for Systems Biology (ISB) is an
internationally renowned non-profit research institute dedicated to
the study and application of systems biology. ISB�s goal is to
unravel the mysteries of human biology and identify strategies for
predicting and preventing diseases such as cancer, diabetes and
AIDS. The driving force behind the innovative �systems� approach is
the integration of biology, computation and technology. This
approach allows scientists to analyze all of the elements in a
system rather than one gene or protein at a time. Located in
Seattle, Washington, the Institute�s team includes 11 faculty
members and more than 170 staff members, and an extensive network
of academic and industrial partners. The organization has an annual
budget of more than $25 million. ISB carries out its research with
a specific mission: to not only cure complex diseases but also
predict an individual�s future health prognosis, in order to get
early treatment. The ISB team of leading-edge researchers are
committed to pursuing the innovations that will transform science
and medicine in the 21st century and eventually lead to the
prediction and prevention of disease. For more information about
ISB visit: www.systemsbiology.org. Certain statements contained in
this release are forward-looking statements that involve a number
of risks and uncertainties. Factors that could cause actual results
to differ materially from those projected in the company's
forward-looking statements include the following: market acceptance
of our technologies and products; our ability to obtain financing;
our financial and technical resources relative to those of our
competitors; our ability to keep up with rapid technological
change; government regulation of our technologies; our ability to
enforce our intellectual property rights and protect our
proprietary technologies; the ability to obtain additional contract
awards and to develop partnership opportunities; the timing of
commercial product launches; the ability to achieve key technical
milestones in key products; and other risk factors identified from
time to time in the company's SEC reports, including its Annual
Report on Form 10-K, and its Quarterly Reports on Form 10-Q. Lumera
Corporation (NASDAQ:LMRA), the world's leading provider of light
applied nanotechnology, announced an expanded collaboration
agreement with the Institute for Systems Biology (ISB), an
internationally renowned non-profit research institute dedicated to
the study and application of systems biology. The revised
collaboration agreement will focus on detection methods for an
array of diagnostic biomarkers aimed at various types of cancer.
Today's announcement extends an agreement between Lumera and ISB
announced in February of 2005. ISB was the first academic
institution to test Lumera's ProteomicProcessor(TM). "We have been
particularly pleased with the flexibility and functionality of
Lumera's ProteomicProcessor(TM) instrument and their
NanoCapture(TM) chips," said Dr. Leroy Hood, president and
co-founder of ISB and a world renowned visionary in the field of
molecular immunology, biotechnology and genomics. "We look forward
to an expanded relationship with Lumera and continuing to utilize
this technology on our quest to usher in a new era of predictive,
preventive, and personalized medicine." Since February of 2005,
Harvard Medical School and Harvard Institute of Proteomics, Baylor
University and the Medical University of South Carolina have joined
ISB in beta testing Lumera's ProteomicProcessor(TM). The instrument
has evolved as a result of their feedback and the company expects
to launch a refined commercial ProteomicProcessor(TM) product in
January at the CHI PepTalk conference, an internationally
recognized forum for protein arrays and detection technologies. "We
have spent time gathering the necessary feedback and seals of
approval from renowned experts and research institutions as it
relates to our ProteomicProcessor(TM) and NanoCapture(TM)
microarrays," said Lumera CEO Tom Mino. "It has been a deliberate
and necessary process in developing and readying our proprietary
product line for the market. We are now nearing the commercial
launching pad." "The ISB application of discovering cancer
biomarkers in serum is exciting and provides significant potential
for future applications," said Dr. Tim Londergan, director of
Lumera's Bioscience Business Unit. "Utilizing partners such as ISB
to develop new applications enables us to build a pipeline of high
value products, while allowing our internal product development to
remain focused on near term market demands." The initial commercial
launch of the ProteomicProcessor(TM) and NanoCapture(TM)
microarrays will be focused on the therapeutic antibody screening
market, where there is a significant unmet demand for kinetic and
affinity analysis in a high throughput format. Therapeutic
Antibodies are a class of compounds that have enjoyed a great deal
of success, perhaps the most notable is a cancer therapy from
Genentech called Rituxan, which had U.S. sales of $1.8 billion in
2005. Lumera's ProteomicProcessor(TM) brings value in terms of
offering kinetic and affinity analysis in a high throughput format
specifically to the screening process, an early part of the drug
discovery model. It is envisioned that with Lumera's technology,
drug discovery will be streamlined by enabling researchers to
provide a clearer picture of a drug's true potential at an earlier
stage of development. Some experts estimate the market for
screening of therapeutic antibodies to be in the range of $400
million. (source: Frost & Sullivan). About Lumera: Lumera is a
leader in the emerging field of nanotechnology. The company designs
proprietary molecular structures and polymer compounds for the
bioscience and communications/computing industries, both of which
represent large market opportunities. The company also has
developed proprietary processes for fabricating such devices. For
more information, please visit www.lumera.com. About ISB: The
Institute for Systems Biology (ISB) is an internationally renowned
non-profit research institute dedicated to the study and
application of systems biology. ISB's goal is to unravel the
mysteries of human biology and identify strategies for predicting
and preventing diseases such as cancer, diabetes and AIDS. The
driving force behind the innovative "systems" approach is the
integration of biology, computation and technology. This approach
allows scientists to analyze all of the elements in a system rather
than one gene or protein at a time. Located in Seattle, Washington,
the Institute's team includes 11 faculty members and more than 170
staff members, and an extensive network of academic and industrial
partners. The organization has an annual budget of more than $25
million. ISB carries out its research with a specific mission: to
not only cure complex diseases but also predict an individual's
future health prognosis, in order to get early treatment. The ISB
team of leading-edge researchers are committed to pursuing the
innovations that will transform science and medicine in the 21st
century and eventually lead to the prediction and prevention of
disease. For more information about ISB visit:
www.systemsbiology.org. Certain statements contained in this
release are forward-looking statements that involve a number of
risks and uncertainties. Factors that could cause actual results to
differ materially from those projected in the company's
forward-looking statements include the following: market acceptance
of our technologies and products; our ability to obtain financing;
our financial and technical resources relative to those of our
competitors; our ability to keep up with rapid technological
change; government regulation of our technologies; our ability to
enforce our intellectual property rights and protect our
proprietary technologies; the ability to obtain additional contract
awards and to develop partnership opportunities; the timing of
commercial product launches; the ability to achieve key technical
milestones in key products; and other risk factors identified from
time to time in the company's SEC reports, including its Annual
Report on Form 10-K, and its Quarterly Reports on Form 10-Q.
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