Sequenom Enters Into License Agreement With Mayo Medical Laboratories
SAN DIEGO, July 29, 2014 /PRNewswire/ -- Sequenom, Inc. (NASDAQ: SQNM), a life sciences company that provides innovative genetic analysis solutions, and Mayo Medical Laboratories (MML), the third-largest provider of esoteric laboratory services in the United States, have announced a license agreement for noninvasive prenatal testing patents and applications.
"We have great appreciation for Mayo Clinic's commitment to research, innovation, and patient care, and we welcome the opportunity to partner with the organization's leading clinical research laboratory to expand patient access to this revolutionary technology," said William Welch, chief executive officer of Sequenom, Inc.
Sequenom Laboratories first pioneered the use of noninvasive prenatal testing in 2011 with the introduction of the MaterniT21™ PLUS laboratory-developed test that has helped more than 250,000 pregnant women worldwide who are at a high risk for fetal chromosomal abnormalities. A December 2012 joint committee opinion from the American Congress of Obstetricians and Gynecologists and the Society of Maternal Fetal Medicine supports the use of cell-free fetal DNA testing as an option for primary screening for pregnant women at increased risk of aneuploidy (abnormal chromosomal number), including those 35 years of age or older or who have a history of ultrasound abnormalities in pregnancy.
Terms of the agreement were not disclosed.
Sequenom, Inc. (NASDAQ: SQNM) is a life sciences company committed to improving health care through revolutionary genomic and genetic analysis solutions. Sequenom develops innovative technologies, products, and diagnostic tests that target and serve molecular diagnostic markets. Web site: www.sequenom.com
About Sequenom Laboratories
Sequenom Laboratories, a CAP-accredited and CLIA-certified molecular diagnostics laboratory, has developed a broad range of laboratory tests, with a focus on prenatal and ophthalmological diseases and conditions. Branded under the names HerediT™, MaterniT21™ PLUS, RetnaGene™, SensiGene™ and VisibiliT™, these molecular genetic laboratory-developed tests provide early patient-management information for obstetricians, geneticists, maternal fetal medicine specialists, and ophthalmologists. Sequenom Laboratories is changing the landscape in genetic-disorder diagnostics using proprietary cutting-edge technologies.
About Mayo Medical Laboratories and the Mayo Clinic Department of Laboratory Medicine and Pathology
Mayo Medical Laboratories is the largest for-profit company associated with Mayo Clinic, the world-renowned health care organization located in Rochester, Minnesota. MML is the third-largest provider of esoteric laboratory services in the United States and serves more than 5,000 clients in 130 countries. Mayo Clinic's Department of Laboratory Medicine and Pathology maintains an active diagnostic test-development program. These activities also incorporate technologies from collaborations with diagnostic and biotechnology companies. Mayo Clinic utilizes these proven diagnostic technologies in the care of its patients and offers them to health care institutions through Mayo Medical Laboratories. Revenue from this testing is used to support medical education and research at Mayo Clinic.
Mayo Clinic is a nonprofit worldwide leader in medical care, research, and education for people from all walks of life. For more information, visit mayoclinic.com or mayoclinic.org/news. Journalists can become a member of the Mayo Clinic News Network for the latest health, science, and research news and access to video, audio, text, and graphic elements that can be downloaded or embedded.
SEQUENOM®, HerediT™, MaterniT21™ PLUS, RetnaGene™, SensiGene™, and VisibiliT™ are trademarks of Sequenom, Inc. All other trademarks and service marks are the property of their respective owners.
Except for the historical information contained herein, the matters set forth in this press release, including statements regarding Sequenom's expectations related to future performance under the agreement between Sequenom and Mayo Medical Laboratories, the expected or potential benefits and impact of the agreement on Sequenom, patients and physicians, Sequenom's commitment to improving health care through revolutionary genomic and genetic analysis solutions, and Sequenom Laboratories' changing the landscape in genetic disorder diagnostics, are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the risks and uncertainties associated with market demand for and acceptance and use of technology and tests such as the MaterniT21 PLUS test, reliance upon the collaborative efforts of other parties and licensees such as Mayo Medical Laboratories, healthcare providers and others, Sequenom or third parties obtaining or maintaining regulatory approvals that impact Sequenom's business, government regulation particularly with respect to diagnostic products and laboratory developed tests, publication processes, the performance of designed product enhancements, Sequenom's ability to develop and commercialize technologies and products, particularly new technologies such as noninvasive prenatal diagnostics and laboratory developed tests, Sequenom's financial position, the timing and amount of reimbursement that Sequenom Laboratories receives from payors for its laboratory developed tests, Sequenom's ability to manage its existing cash resources or raise additional cash resources, competition, intellectual property protection and intellectual property rights of others, litigation involving Sequenom, and other risks detailed from time to time in Sequenom's most recently filed reports on Form 8-K, its most recently filed Quarterly Report on Form 10-Q and its Annual Report on Form 10-K for the year ended December 31, 2013, and other documents subsequently filed with or furnished to the Securities and Exchange Commission. These forward-looking statements are based on current information that may change and you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and Sequenom undertakes no obligation to revise or update any forward-looking statement to reflect events or circumstances after the issuance of this press release.
SOURCE Sequenom, Inc.