SomaLogic and Mitsui Announce Collaboration for Business Development and Distribution in Asia.

Business, Health & Medical Editors

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BOULDER, Colo.--(BW HealthWire)--Nov. 6, 2001

SomaLogic, a privately held Boulder, Colo.-based proteomics company, announced that it has entered into a collaboration with Mitsui & Co., Ltd., a publicly held international trading corporation based in Japan, to identify potential aptamer customers in Asia. The agreement is part of SomaLogic's overall strategy to capitalize on near-term opportunities to grow its research proteomics business and to access human proteins for the longer-term development of aptamer-based clinical diagnostic tools.

Under the agreement, SomaLogic grants Mitsui the Asian rights to sell aptamers for certain proteomics applications. As part of this arrangement, Mitsui has agreed to initiate and negotiate agreements with potential purchasers of aptamers who will provide protein targets for SomaLogic to use in the generation of aptamers for their research proteomics and clinical diagnostic arrays. Mitsui has also made an equity investment in SomaLogic.

"We are impressed by the potential of SomaLogic's aptamer technology in high-throughput proteomics," said Ryu Ogawa, General Manager of Life Science Division, Mitsui & Co., Ltd. "We are excited by the long-term potential of SomaLogic's diagnostics business and believe that this agreement is an important step in Mitsui's strategy to invest in the growing biotechnology sector."

SomaLogic's technology is based on aptamers, single-stranded DNA molecules that, like antibodies, can bind target molecules with exquisite specificity. The extraordinary specificity of aptamers versus other protein capture agents allows them to distinguish even between closely related proteins, a key advantage for large-scale applications in proteomics and in clinical diagnostics. When assembled in an array format, aptamers may be used to simultaneously analyze hundreds of thousands of proteins from biological fluids, including proteins associated with certain diseases. The ability of these arrays to link proteins with certain diseases will play a significant role in disease diagnosis and treatment. SomaLogic also holds a formidable patent position for aptamer technology with over 145 patents and patent applications, including the exclusive rights to in vitro diagnostic applications granted by Gilead Sciences in November 1999.

"Based on its extensive relationships in the Asian biotechnology market, Mitsui is a premier choice as a partner," said Larry Gold, Ph.D., SomaLogic's founder and chief executive officer. "This agreement provides us with enhanced protein acquisition abilities which will help us meet our long-term business objective of providing aptamer arrays to the clinical diagnostics market."

About SomaLogic

SomaLogic is revolutionizing research proteomics and clinical diagnostics with its proprietary aptamers, which are identified through the SELEX(TM) process. While existing technologies lack the capabilities that are essential for the comprehensive, high-throughput detection of disease-related proteins, the company's aptamer technology has the necessary specificity, sensitivity, and affinity to detect proteins at low concentrations, providing an extremely reliable and cost-effective protein quantification method for tracking disease processes. Building on its research proteomics foundation, SomaLogic's clinical diagnostics platform will put it at the forefront of the next wave of the proteomics revolution -- screening, diagnosis and disease management -- enabling physicians to better diagnose diseases at earlier stages, thereby promoting more effective patient treatment. The company is headquartered in Boulder, Colo. More information about the company can be found at http://www.somalogic.com.

About Mitsui & Co., Ltd.

Mitsui & Co., Ltd. is Japan's largest sogo shosha, or general trading company. The Company has two principal roles: to facilitate its clients' international trade-related activities and -- making use of its substantial information, human, financial, and other resources -- to create new trade flows, new enterprises, and new industries around the world. Mitsui & Co., Ltd., is an international "business creator" offering value-added services to clients worldwide. The Company's 5 Operating Groups oversee a broad range of products, and have the knowledge and experience to best serve the ever-changing needs of the global marketplace. For more information about Mitsui & Co., Ltd., visit the Company's Web site at http://www.mitsui.co.jp.

Except for the historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Such forward-looking statements include SomaLogic's prospects for favorable growth and performance. The statements made by SomaLogic, Inc. are based on management's present expectations and actual results may differ from the results indicated or otherwise implied by such forward-looking statements due to certain risks and uncertainties including, but not limited to, our ability to secure funding to execute our business plan, our ability to gain market share by establishing the effectiveness of our products, the intense competition in research proteomics and commercial diagnostics, and general industry or business trends or events. These risk factors may not be an all-inclusive enumeration of the business risks faced by SomaLogic, Inc. These statements made by the management of SomaLogic, Inc. and summarized above represent their views as of the date of this press release, and it should not be assumed that the statements made herein remain accurate as of any future date. SomaLogic, Inc. does not presently intend to update these statements and undertakes no duty to any person to effect any such update under any circumstances.