Cytyc Corporation Signs Collaborative Research Agreement with Harvard Medical School.Business Editors/Health/Medical Writers BIOWIRE2K BOXBOROUGH, Mass.--(BUSINESS WIRE)--May 14, 2003 Cytyc Corporation (Nasdaq:CYTC) announced today that it has entered into a multi-year collaborative sponsored research agreement with Harvard Medical School Harvard Medical School (HMS) is one of the graduate schools of Harvard University. It is a prestigious American medical school located in the Longwood Medical Area of the Mission Hill neighborhood of Boston, Massachusetts. focused on the discovery of new molecular markers associated with the development and progression of neoplasia neoplasia /neo·pla·sia/ (-pla´zhah) the formation of a neoplasm. cervical intraepithelial neoplasia of the cervix cervix /cer·vix/ (ser´viks) pl. cer´vices [L.] 1. neck. 2. the front portion of the neck. 3. cervix uteri. , breast, and other organs. Under the terms of the agreement, Cytyc scientists will work collaboratively with Harvard researchers to translate the findings to complement Cytyc's testing platforms. The agreement calls for Cytyc to sponsor targeted research programs with two Harvard Medical School principal investigators, Peter M. Howley, MD, head of the Harvard Medical School Department of Pathology, and Karl Munger, PhD, Associate Professor of Pathology at Harvard Medical School. Dr. Howley, a world-renowned research pioneer in uncovering the mechanisms that lead to the development of cervical cancer Cervical Cancer Definition Cervical cancer is a disease in which the cells of the cervix become abnormal and start to grow uncontrollably, forming tumors. , said, "It is my hope that this work will lead to a better understanding of the development of neoplastic neoplastic /neo·plas·tic/ (ne?o-plas´tik) 1. pertaining to a neoplasm. 2. pertaining to neoplasia. neoplastic pertaining to neoplasia or a neoplasm. diseases and will provide the basis for new diagnostic tools and therapeutic targets. We are pleased to have the support of Cytyc Corporation and to collaborate with them on these endeavors." "We are delighted to enter into this agreement with Harvard Medical School, one of the world's preeminent medical education and research institutions," said Patrick J. Sullivan, Cytyc's chairman, president, and chief executive officer. "Cytyc is committed to supporting fundamental research utilizing genomic and proteomic tools to develop new methods for the early detection of cervical, breast and other cancers. We are excited by the prospect of making further improvements in women's healthcare." James Linder Dr. James “Jim” Linder, MD, (born 1954) is president of UNeMed Corporation, the technology transfer entity of the University of Nebraska Medical Center, and is an American authority on university research commercialization. , MD, Cytyc's vice president and chief medical officer, added, "This collaboration will include an investigation of unique markers that may be present in the samples collected for the ThinPrep(R) Pap Test Pap test, Pap smear, or Papanicolaou test (păp'ənē`kəlou), medical procedure used to detect cancer of the uterine cervix. and the FirstCyte(TM) Breast Test. We believe that coupling molecular markers with microscopic examination enhances the information that laboratories can provide to physicians." Cytyc Corporation designs, develops, manufactures, and markets the ThinPrep(R) System for use in medical diagnostic applications primarily focused on women's health Women's Health Definition Women's health is the effect of gender on disease and health that encompasses a broad range of biological and psychosocial issues. . The ThinPrep System is widely used for cervical cancer screening and is the platform from which the Company has launched its expansion into breast cancer risk assessment with the FirstCyte (TM)Breast Test. The ThinPrep System consists of the ThinPrep(R) 2000 Processor, ThinPrep(R) 3000 Processor, and related reagents, filters, and other supplies. Cytyc is traded on The Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. under the symbol CYTC. Cytyc and ThinPrep are registered trademarks of Cytyc Corporation. FirstCyte is a trademark of Cytyc Corporation for which registration has been applied. Investors are cautioned that statements which are not strictly historical statements, including statements regarding management's plans and expectations with respect to future business strategy, product development, operations and results, constitute forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. which involve risks and uncertainties which could cause actual results to differ. Such risks include the Company's dependence on a limited number of products, uncertainty of market acceptance and additional cost, dependence on proprietary technology, competition and competitive pricing pressures, uncertainties regarding regulatory approvals and developments, and other risks detailed in the company's filings with the Securities and Exchange Commission. Statements contained in this press release are made as of the date hereof and Cytyc assumes no obligation to update such information based on events that may occur after that date. |
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