OMAHA, Neb. (September 22, 2016) — Transgenomic, Inc. (TBIO), (NASDAQ: TBIO), today announced that it has signed a data sharing agreement with Ventana Medical Systems, Inc., a subsidiary of Roche Holdings. The agreement allows Ventana to access DNA test results from an existing research agreement between Transgenomic and the University of Melbourne in Australia. As part of this research agreement, the University of Melbourne is conducting additional clinical validation studies of Transgenomic’s Multiplexed ICE COLD-PCR™ (MX-ICP) technology.
“We expect that the results of our collaboration with Melbourne University could significantly contribute to knowledge about the genetics of patient response to targeted cancer therapies,” noted Paul Kinnon, President and Chief Executive Officer of Transgenomic. “We therefore welcome the opportunity to share this data with Ventana and view this agreement as an acknowledgement of the high quality and value characterizing this DNA analysis.”
The collaborative study between Transgenomic and the University of Melbourne is being conducted using DNA isolated from pre-treatment tumor biopsies from patients enrolled in clinical trials. By comparing Next Generation Sequencing (NGS) and MX-ICP, it aims to determine the prevalence and clinical significance of ultra-low frequency mutations that would otherwise go undetected by NGS or Sanger sequencing methodologies.
Transgenomic’s Multiplexed ICE COLD-PCR offers major advantages over current sequencing technologies. It delivers at least a 100-fold improvement in sensitivity compared to standard methodologies, allowing detection of both known and previously unknown genetic alterations in any exon of any gene using a single assay. Its ultra-high sensitivity makes it feasible to conduct comprehensive genomic analyses using either tissue or liquid biopsies. MX-ICP is platform agnostic and works on all sequencing platforms found in labs today. It is robust, easy to use and easily implemented, requiring minimal disruption to established sequencing workflows.
For more information about Multiplexed ICE COLD-PCR technology, click here.
Transgenomic, Inc. is a global biotechnology company advancing personalized medicine in oncology and inherited diseases through advanced diagnostic technologies, such as its revolutionary ICE COLD-PCR, which enables use of liquid biopsies for mutation detection. The company also provides specialized clinical and research services to biopharmaceutical companies developing targeted therapies. Transgenomic’s diagnostic technologies are designed to improve medical diagnoses and patient outcomes.
Certain statements in this press release constitute “forward-looking statements” of Transgenomic within the meaning of the Private Securities Litigation Reform Act of 1995, which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. The known risks, uncertainties and other factors affecting these forward-looking statements are described from time to time in Transgenomic’s filings with the Securities and Exchange Commission, including in Transgenomic’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission on April 14, 2016. Any change in such factors, risks and uncertainties may cause the actual results, events and performance to differ materially from those referred to in such statements. Accordingly, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 with respect to all statements contained in this press release. All information in this press release is as of the date of the release and Transgenomic does not undertake any duty to update this information, including any forward-looking statements, unless required by law.
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Barbara Lindheim, 212-584-2276
Transgenomic Investor Relations