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|Sequenom Announces Multi-Year Supply Agreement With Illumina|
SAN DIEGO, July 11, 2011 /PRNewswire via COMTEX/ --
Sequenom, Inc. (NASDAQ: SQNM), a life sciences company providing innovative genetic analysis solutions, today announced it has signed a three-year supply agreement with Illumina, Inc., a leading developer and manufacturer of life sciences tools for the large-scale analysis of genetic variation and function.
Under the terms of the agreement, Sequenom and its subsidiaries will purchase Illumina's sequencing equipment and consumables for use in the development of a noninvasive test designed to detect an overabundance of chromosome 21 in pregnant women, a result associated with fetal Down syndrome.
Sequenom and Illumina will work collaboratively toward the submission for regulatory approval of an in vitro diagnostic product for the detection of fetal chromosomal abnormalities.
"We are pleased to announce this new partnership with Illumina, a leader in genetic sequencing systems, as we advance our role in developing and commercializing prenatal diagnostics," said Harry F. Hixson, Jr., Chairman and CEO of Sequenom, Inc. "This agreement is an important step in bringing our proprietary trisomy test to market, giving us the scalability, speed to market and supply chain necessary to address the commercial opportunity of our noninvasive prenatal test for trisomy 21."
"We are very pleased to complete this supply agreement with Sequenom for Illumina'sHiSeq 2000 platform," said Jay Flatley, President and CEO of Illumina. "With the most powerful and cost-effective sequencing technology available, we are fully ready to meet Sequenom's needs as it prepares for the commercial launch of its test."
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.
Illumina (NASDAQ: ILMN) is a leading developer, manufacturer, and marketer of life science tools and integrated systems for large-scale analysis of genetic variation and function. Illumina provides innovative sequencing and array-based solutions for genotyping, copy number variation analysis, methylation studies, gene expression profiling, and low-multiplex analysis of DNA, RNA, and protein. Illumina also provides tools and services that are fueling advances in consumer genomics and diagnostics. Illumina's technology and products accelerate genetic analysis research and its application, paving the way for molecular medicine and ultimately transforming healthcare.
Except for the historical information contained herein, the matters set forth in this press release, including statements regarding the duration of and performance expectations under the supply agreement, including purchases by Sequenom and collaborative efforts by Sequenom and Illumina toward a submission for regulatory approval of an in vitro diagnostic product, advancement of Sequenom's role in developing and commercializing prenatal diagnostics, bringing Sequenom's proprietary trisomy test to market, the expected impact of the supply agreement on Sequenom's scalability, speed to market, and supply chain, the commercial opportunity of Sequenom's noninvasive prenatal trisomy 21 test and its expected commercial launch, 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 Illumina, Sequenom'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.