Cytyc and Olympus Sign Exclusive Agreement for Distribution of ThinPrep(R) System in Japan.MARLBOROUGH, Mass. & TOKYO -- Cytyc Corporation (Nasdaq: CYTC) and Olympus Corporation This article refers to a Japanese camera maker. For other meanings, see Olympus (disambiguation). Olympus Corporation (オリンパス株式会社 today announced an exclusive agreement appointing Olympus as the sole and exclusive distributor for the sale of Cytyc's ThinPrep(R) System in Japan. The ThinPrep System includes the ThinPrep(R) 2000 and 3000 Processor, ThinPrep(R) Imaging System, and related reagents, filters, and other supplies. The term of the agreement is five years, during which time Olympus will apply its formidable sales and marketing resources to expand implementation of the ThinPrep System for cervical screening throughout Japan. Currently, there are approximately ten million Pap tests Pap test, Pap smear, or Papanicolaou test (păp'ənē`kəlou), medical procedure used to detect cancer of the uterine cervix. performed annually in Japan. "We are very excited to form this partnership with Olympus, a recognized world leader in developing and marketing innovative technologies," said Patrick J. Sullivan, Cytyc's chairman, president, and chief executive officer. "Olympus is clearly the market leader in biological microscopes worldwide, and as we have been a customer and collaborator throughout the evolution and development of the ThinPrep System, it is through this relationship that we can attest to the quality of their products and the professionalism of their organization. We believe they are the ideal partner to drive implementation the ThinPrep System in Japan." "Olympus has obtained the right to introduce the ThinPrep System in Japan and this opportunity harbors enormous potential. Not only will ThinPrep technology be offered in Olympus' extensive market for microscopes and other products, but Cytyc and Olympus will be able to combine their strengths in cooperation across a broad range of fields. Both companies entered into this Agreement based on such an understanding and objective," said Naoyuki Takahashi, division manager, Bioscience Division of Olympus. About Olympus Olympus Corporation is a global precision technology leader in designing and delivering solutions for medical and healthcare, life science, imaging and information and industrial applications. Olympus leverages research and development investment in technology and manufacturing processes across various business lines which include: gastrointestinal endoscopes, accessories, and minimally invasive surgical products; advanced clinical and research microscopes; lab automation systems, chemistry-immuno and blood analyzers and reagents; digital and film cameras and digital voice recorders; and information processing information processing: see data processing. information processing Acquisition, recording, organization, retrieval, display, and dissemination of information. Today the term usually refers to computer-based operations. equipment, industrial video scopes, and industrial microscopes. About Cytyc Cytyc Corporation is a leading 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. company that designs, develops, manufactures, and markets innovative and clinically effective products. Cytyc products cover a range of women's health applications, including 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. screening, breast cancer risk assessment, treatment of excessive menstrual menstrual /men·stru·al/ (men´stroo-al) pertaining to the menses or to menstruation. men·stru·al or men·stru·ous adj. Of or relating to menstruation. bleeding, and treatment of breast cancer. 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. For Cytyc Investors 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. in this press release are made pursuant to the provisions of Section 21E of the Securities Exchange Act of 1934. Investors are cautioned that statements in this press release which are not strictly historical statements, including, without limitation, statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc Cytyc's future financial condition, operating results and economic performance, and management's expectations regarding key customer relationships, future growth opportunities, product acceptance and business strategy, constitute forward-looking statements. These statements are based on current expectations, forecasts and assumptions that are subject to risks and uncertainties, which could cause actual outcomes and results to differ materially from those statements. Risks and uncertainties include, among others, dependence on key personnel, customers and proprietary technology, uncertainty of product development efforts and product acceptance, management of growth and product diversification, entry into new market segments, risks associated with litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , the effective integration of acquired businesses and technologies, competition and competitive pricing pressures, risks associated with the FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. regulatory approval processes and healthcare reimbursement policies, introduction of technologies that are disruptive to Cytyc's business and operations, the impact of new accounting requirements and governmental rules and regulations, as well as other risks detailed in Cytyc's filings with the Securities and Exchange Commission, including under the heading "Certain Factors Which May Affect Future Results" in its 2004 Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and its most recent Quarterly Report on Form 10-Q Form 10-Q See 10-Q. filed with the Commission. Cytyc cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date they were made. Cytyc disclaims any obligation to publicly update or revise any such statements to reflect any change in its expectations or events, conditions, or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements. |
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