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DIANON SYSTEMS, INC. ACQUIRES EXCLUSIVE RIGHTS TO A UNIQUE CANCER TEST FROM M.D. ANDERSON CANCER CENTER

 STRATFORD, Conn., Jan. 5 /PRNewswire/ -- DIANON Systems, Inc. (NASDAQ: DIAN) and The University of Texas M. D. Anderson Cancer Center today announced DIANON's acquisition of exclusive world-wide rights to the in vitro use of "p65" tumor marker technology. This patented technology has demonstrated promising results for the detection and monitoring of patients with prostate, breast, and colorectal cancers and in preliminary clinical testing compares favorably to other existing tests. DIANON is currently evaluating "p65" in comprehensive clinical trials which are expected to be completed late this year. DIANON's President and Co-CEO, Jack Davis, reported that, "although the data are preliminary, the p65 technology may have value in detecting some early- stage cancers and earlier identification of recurrence of later stage cancer patients."
 The University of Texas M. D. Anderson Cancer Center, located in Houston, is one of the preeminent patient care, teaching, and research institutions in the field of oncology. The p65 technology was developed by Dr. Margaret Hanausek, Dr. Zbigniew Walaszek, and Dr. Thomas Slaga of M. D. Anderson's Department of Carcinogenesis. The researchers expressed their satisfaction with the collaboration with DIANON Systems, and anticipate that p65 will be developed into a valuable tool in the diagnosis and management of cancer patients.
 In an unrelated move DIANON Systems announced today that management has decided to take an accelerated amortization charge of approximately one million dollars in the fourth quarter. This expense would make fourth quarter results for the company unprofitable. The company's President and Co-CEO, Jack Davis reported that "this charge results from a change in our estimate of future benefits anticipated from an intangible asset, a customer list. By accounting for this charge in 1993, we substantially reduce this year's income tax payments and improve future earnings by reducing future amortization expense."
 Founded in 1983, DIANON Systems, Inc. is the United States' leading provider of specialized cancer reference laboratory services and integrated information products to oncologists and obstetricians/gynecologists.
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 /CONTACT: Richard A. Sandberg, chairman and co-chief executive officer, 203-381-4022, or John P. Davis, president and co-chief executive officer, 203-381-4033, both of DIANON Systems, Inc./
 (DIAN)


CO: DIANON Systems, Inc. ST: Connecticut IN: HEA SU:

TM -- NY070 -- 9505 01/05/94 17:08 EST
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Publication:PR Newswire
Date:Jan 5, 1994
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