Printer Friendly

CIBA CORNING ANNOUNCES ACQUISITION; ACQUISITION WILL STRENGTHEN CIBA CORNING'S PRESENCE IN THE $400 MILLION CANCER DIAGNOSTICS MARKET

 MEDFIELD, Mass., Jan. 14 /PRNewswire/ -- Ciba Corning Diagnostics Corp. announced it has acquired the cancer diagnostics business of Triton Diagnostics Inc., a subsidiary of Shell Oil Company (terms not disclosed). The acquisition of Triton, with its position in proprietary cancer markets, is an important step in Ciba Corning's ongoing commitment to become a leader in the greater than $400 million "in vitro" cancer diagnostics market.
 Triton, based in Alameda, Calif., is a recognized innovator in the research and manufacture of cancer diagnostic assays. In the past five years Triton has established successful research relationships with several of the leading cancer institutes around the world, including Dr. Adrian Harris at the Imperial Cancer Research Fund in Oxford, England, and Dr. Herbert Fritsche at M.D. Anderson Cancer Center in Houston, Texas, to develop novel and emerging assays in cancer diagnostics.
 Triton's current portfolio of five manual, non-isotopic assays includes c-erbB-2, an oncogene clinically associated with breast cancer prognosis and management, and urinary gonadotropin peptide (UGP), potentially useful in the management of ovarian cancer. (These assays are currently not FDA approved for diagnostic use in the U.S.).
 Triton also has developed assays focused on gastrointestinal cancer as well as several tissue based products and antibody histology reagents.
 Ciba Corning's interest in entering new emerging high growth markets is driven, in part, by the successful launch of the ACS:180(TM), the first fully automated, random access, chemiluminescent immunoassay system. Bringing full automation capability to cancer testing will significantly reduce the laboratory costs associated with these tests.
 The Triton acquisition is also an important step for both CIBA- Geigy's pharmaceutical division (a worldwide provider of cancer therapeutics) and Ciba Corning towards delivering "total cancer patient management." To meet that goal, Ciba Corning has already begun developing their Cancer Care Diagnostics(TM) line which includes ACS:180 assays for PSA, CEA and AFP. (These assays are currently not FDA approved for diagnostic use in the U.S.)
 The Alameda, Calif., facility which employs 47 people will now be known as Triton Laboratories, and will operate as a fully integrated unit of Ciba Corning. This acquisition positions Triton Laboratories as Ciba Corning's center of excellence for emerging cancer diagnostics and helps the company meet its objective of providing an innovative portfolio of established and emerging cancer diagnostic assays.
 As products are approved worldwide, they will be sold by Ciba Corning's direct sales force and authorized distributors.
 -0- 1/14/93
 /CONTACT: JoAnn Jasinski, manager-new product promotions and advertising of Ciba Corning Diagnostics Corp., 508-359-3364/


CO: Ciba Corning Diagnostics Corp. ST: Massachusetts IN: HEA SU: TNM

SM-TS -- NY015 -- 4856 01/14/93 12:00 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 14, 1993
Words:440
Previous Article:GLACIER HOLDINGS ANNOUNCES SECOND QUARTER RESULTS
Next Article:BJ SERVICES ANNOUNCES NORTH SEA VESSEL CONTRACT AWARDS
Topics:


Related Articles
OPTICAL SENSORS FOR MEDICINE HIRES THREE SCIENTISTS FOR RESEARCH AND DEVELOPMENT POSITIONS
ENDOGEN, INC. ANNOUNCES YEAR-END RESULTS
CIBA CORNING DEDICATES $60 MILLION R&D, MANUFACTURING FACILITY; GOV. WELD LAUDS INTERNATIONAL COMPANY FOR CREATING JOBS, EXPANSION
GEN-PROBE NAMES GRAHAM P. LIDGARD, PH.D., VICE PRESIDENT, DIAGNOSTICS RESEARCH AND DEVELOPMENT
MATRITECH ELECTS C. WILLIAM ZADEL TO BOARD OF DIRECTORS
MARQUEST SIGNS NATIONAL CONTRACT WITH COLUMBIA/HCA
Ventana Announces Hiring of a Chief Operating Officer And Appointment of a Vice Chairman.
CIBA Vision Agrees to Acquire Intraocular Lens Business From Mentor Corporation.
Mentor Corporation To Sell Intraocular Lens Business.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters