SAN DIEGO and KONSTANZ, Germany, Aug. 11, 2011 /PRNewswire/ -- Sequenom, Inc. (NASDAQ: SQNM), a life sciences company providing innovative genetic analysis solutions, today announced it has partnered with LifeCodexx AG, a company focused on the development of clinically validated Next Generation Molecular Diagnostics, for the commercialization of prenatal laboratory testing services in Europe. The companies have agreed to collaborate in the development and launch of a trisomy 21 laboratory developed test and other aneuploidies testing in Germany, Austria, Switzerland, and Liechtenstein, with the potential for additional launches in other countries.
The completion of the agreement with LifeCodexx initiates Sequenom's first European commercial partnership in the field of non-invasive prenatal diagnostics. Under this initial five year licensing agreement, Sequenom has granted LifeCodexx licenses to key patent rights, including European Patent EP0994963B1 and pending application EP2183693A1, that enable the development and commercialization of a non-invasive aneuploidy test utilizing circulating cell free fetal DNA in maternal plasma. Per the agreement, LifeCodexx will make certain upfront and minimum annual royalty payments to Sequenom as well as royalties based on sales of testing services.
"This agreement enables us to extend the licensing rights to our proprietary testing modality internationally, and we are excited to be partnering with a high quality laboratory like LifeCodexx in this endeavor," said Harry F. Hixson, Chairman and CEO of Sequenom, Inc. "This is the first of our ex-U.S. licensing agreements that enables a partner to commercialize a trisomy 21 laboratory developed test, another step in bringing this test to market and in achieving our corporate goals set forth for 2011."
"We are pleased to be the first to partner with Sequenom and to initially provide this testing service to German speaking regions of the European market. We are now in a strong position to exploit the clinical utility and proprietary science behind the noninvasive detection of trisomy 21 and eventually other aneuploidies using shotgun sequencing as initially developed by Dr. Dennis Lo and his team," added Dr. Michael Lutz, CEO of LifeCodexx AG. "Building upon our recently initiated clinical validation study for our trisomy 21 test, this agreement is another key milestone with respect to our goal of launching our first test by late 2011."
Sequenom, Inc. (NASDAQ: SQNM) is a life sciences company committed to improving healthcare through revolutionary genetic analysis solutions. Sequenom develops innovative technology, products and diagnostic tests that target and serve discovery and clinical research, and molecular diagnostics markets. The company was founded in 1994 and is headquartered in San Diego, California. Sequenom maintains a Web site at http://www.sequenom.com to which Sequenom regularly posts copies of its press releases as well as additional information about Sequenom. Interested persons can subscribe on the Sequenom Web site to email alerts or RSS feeds that are sent automatically when Sequenom issues press releases, files its reports with the Securities and Exchange Commission or posts certain other information to the Web site.
LifeCodexx is a subsidiary of GATC Biotech, Europe's leading provider of DNA sequencing services. The company focuses on the development of clinically validated next generation molecular diagnostics by applying its expertise in the field of next generation sequencing. The current focus is on prenatal diagnostics.
Except for the historical information contained herein, the matters set forth in this press release, including statements regarding expectations for the commercialization of prenatal laboratory testing services in Europe including a trisomy 21 laboratory developed test and other aneuploidy tests, the duration of and collaboration, performance, sales and payment expectations under the licensing agreement, the potential for additional launches in other countries, bringing a trisomy 21 test to market, Sequenom's corporate goals for 2011, and Sequenom's commitment to improving healthcare through revolutionary genetic analysis solutions, 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 reliance upon the collaborative efforts of other parties such as LifeCodexx, Sequenom's and its partner's ability to develop and commercialize new technologies and products, particularly new technologies such as prenatal and other diagnostics and 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, government regulation particularly with respect to diagnostic products and laboratory developed tests, obtaining or maintaining regulatory approvals, ongoing litigation and investigations and other risks detailed from time to time in Sequenom, Inc.'s most recent Annual Report on Form 10-K 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, Inc. 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.