454 LIFE SCIENCES GETS GENOME LICENSE FROM PYROSEQUENCING.454 Life Sciences, an innovative developer of genome-scale sequencing technologies and a majority-owned subsidiary majority-owned subsidiary A firm in which more than 50% of outstanding voting stock is owned by the parent company. of CuraGen Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CRGN), has obtained an exclusive license for sole use of sequencing by synthesis and pyrophosphate pyrophosphate /py·ro·phos·phate/ (-fos´fat) a salt of pyrophosphoric acid. py·ro·phos·phate n. Abbr. PP A salt or ester of pyrophosphoric acid. based sequencing for whole genome applications from Pyrosequencing AB (Stockholm: PYRO A), a global technology solutions provider for the Applied Genomics market. Under the terms of the agreement, the license gives 454 Life Sciences the exclusive right to use this technology in whole genome analysis, while Pyrosequencing AB will retain the rights to its pyrophosphate- based sequencing technology for all applications not related to whole genome activities. This license makes 454 Life Sciences the only company allowed to produce instruments and kits, and provide services that utilize sequencing by synthesis or pyrophosphate based sequencing for whole genome sequencing, such as karyotyping Karyotyping A laboratory test used to study an individual's chromosome make-up. Chromosomes are separated from cells, stained, and arranged in order from largest to smallest so that their number and structure can be studied under a microscope. , genotyping and determining sequence-based expression, in the United States, Canada, Europe, Japan, Australia and other countries around the world. For the five years of exclusive license rights Pyrosequencing will receive a minimum of $4.5 million USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. (approximately 36.5 MSEK MSEK Meyer, Suozzi, English & Klein (New York law firm) MSEK Million Swedish Kroner ) in up- front payments and minimum royalties. After year five, 454 Life Sciences has an option to maintain the exclusivity throughout the lifetime of the licensed patents at an additional cost of $0.5 - $1 million USD per year. Established in 2000, 454 Life Sciences develops technologies and tools to sequence whole genomes using a massively parallel, scalable platform that compresses the time, cost, sample preparation, and space required to determine the nucleotide sequence of whole genomes. The company's technology enables a single individual to not only prepare, but also sequence a genome after performing only one sample preparation, irrespective of the size of the genome being investigated. "Gaining this exclusive license is strategic for us as we broaden our strong intellectual property base and expertise to ensure that 454 Life Sciences maintains its leading position and creates barriers to entry in the whole genome sequencing arena," stated Richard F. Begley, Ph.D., president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of 454 Life Sciences. "As our technology is the first that was intentionally designed to sequence whole genomes, we are confident that having this license from a technology leader such as Pyrosequencing AB will ensure our first- mover advantage," added Dr. Begley. "This agreement with 454 Life Sciences is an important milestone in the rapidly expanding utilization of our Pyrosequencing technology. Renowned in the life science community for its accuracy and high quality data in the analysis of genetic variability and DNA sequences, Pyrosequencing is now being developed for the application area of whole genome sequencing," said Erik Wallden, CEO of Pyrosequencing. "We are enthusiastic about the unique strength offered by the combination of the accuracy and precision of Pyrosequencing and the massively parallel processing capability provided by 454 Life Sciences. We are particularly happy with this agreement since CuraGen Corporation was one of our very first customers for a PSQ 96 System as early as 1999," added Wallden. About 454 Life Sciences 454 Life Sciences is developing novel technologies for rapidly and comprehensively determining the nucleotide sequence,"whole genome sequencing," of entire genomes. The company's technology is expected to have broad applications in genetic engineering, agriculture, animal health, biodefense, and human health care, including drug discovery and development, and disease diagnosis. 454 Life Sciences is a majority owned subsidiary of CuraGen Corporation (NASDAQ: CRGN). 454 Life Sciences was funded primarily through a private placement from investors including CuraGen Corporation, Quantum Partners, Cooper Hill Partners, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , and members of CuraGen's senior management team. For more information, visit http://www.454.com. About Pyrosequencing AB Pyrosequencing AB develops, manufactures and sells complete solutions for rapid applied genetic analysis based on its proprietary Pyrosequencing technology, a broadly applicable DNA sequencing technique. Pyrosequencing is a leader in the global market in Applied Genomics with some 300 systems sold to major pharmaceutical and biotech companies and prestigious research institutions worldwide. An agreement with Corbett Research enables Pyrosequencing to offer a comprehensive product portfolio for applied genetic analysis. Pyrosequencing actively collaborates with industry leaders to develop clinical applications of the technology for disease diagnosis, clinical prognosis and pharmacogenomics testing. Pyrosequencing products include the bench-top PSQ PSQ Political Science Quarterly (journal) PSQ Pyrosequencing PSQ Pipsqueak (gene) PSQ Patient Satisfaction Questionnaire PSQ Presidential Studies Quarterly 96, PSQ 96MA and PSQ HS 96A Systems, all of which utilize proprietary software and reagent kits, and Rotor-Gene 3000, CAS 1200 and other products from Corbett. Among Pyrosequencing's customers are AstraZeneca, GlaxoSmithKline, Merck, Schering-Plough, Bristol-Myers Squibb, the National Institutes of Health (NIH "Not invented here." See digispeak. NIH - The United States National Institutes of Health. ), the Centers for Disease Control and Prevention Centers for Disease Control and Prevention (CDC), agency of the U.S. Public Health Service since 1973, with headquarters in Atlanta; it was established in 1946 as the Communicable Disease Center. (CDC See Control Data, century date change and Back Orifice. CDC - Control Data Corporation ), the Karolinska Institute, Genzyme Corp., Biogen, Oxagen, NASA NASA: see National Aeronautics and Space Administration. NASA in full National Aeronautics and Space Administration Independent U.S. , DuPont Agriculture, the Health Protection Agency (HPA (1) (High Performance Addressing) Refers to a variety of earlier addressing techniques that improved the quality of a passive matrix (LCD) screen. (2) (High Power A ), and the Swedish University of Agricultural Sciences The university has four faculties: Faculty of Landscape Planning, Horticulture and Agricultural Science, Faculty of Natural Resources and Agriculture Sciences, Faculty of Veterinary Medicine and Animal Science and Faculty of Forest Sciences. . Additional information is available at http://www.pyrosequencing.com. About CuraGen CuraGen Corporation (NASDAQ: CRGN) is a genomics-based pharmaceutical company dedicated to improving the lives of patients by developing a rich pipeline of novel protein, antibody, and small molecule therapeutics in the areas of obesity and diabetes, oncology, inflammation, and central nervous system disorders Nervous system disorders A satisfactory classification of diseases of the nervous system should include not only the type of reaction (congenital malformation, infection, trauma, neoplasm, vascular diseases, and degenerative, metabolic, toxic, or deficiency . CuraGen's therapeutics are based on internally discovered novel genes from the human genome that are believed to play a role in several important mechanisms underlying disease, including peripheral metabolism, cell proliferation, and anti-angiogenesis. CuraGen has established broad development alliances and its experienced preclinical and clinical teams are rapidly advancing the company's rich pipeline of novel products. CuraGen's expertise in genomics and bioinformatics is now being used to help predict efficacy and safety in clinical trials and to prioritize drug candidates with the highest chance of reaching the market. CuraGen's technology and expertise have been used by more than a dozen leading companies including Bayer, Biogen, Genentech, GlaxoSmithKline, Hoffmann-La Roche and Pfizer. The company is headquartered in New Haven, CT. For more information, visit http://www.curagen.com. |
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