|The only news released lately is an announcement of the a newer version of the same product application (genomics). Otherwise, expect some volatility around earnings and tax loss trading season. Until a few new applications come out; intellectual property, not product sales, will continue to be the main stock price driver.|
Nanogen Introduces the NanoChip 400
400 Site Array Provides Cost-Effective Multiplexing for Clinical Laboratories
SAN DIEGO, Oct. 27 /PRNewswire-FirstCall/ -- Nanogen, Inc. (Nasdaq: NGEN), developer of advanced diagnostic products, introduced today its second-generation instrument, the NanoChip(R) 400, at the American Society of Human Genetics (ASHG) Annual Meeting being held this week in Toronto. The NanoChip(R) 400 is an advanced molecular diagnostic testing and diagnostic development platform for clinical research and clinical reference laboratories. The automated multi-purpose system facilitates detection of known genetic sequences, such as single nucleotide polymorphisms (SNPs), utilizing a 400-site electronic microarray upon which molecular tests can be developed and conducted. Building on the features clinical laboratories and researchers enjoyed with the first-generation NanoChip(R) Molecular Biology Workstation, the NanoChip(R) 400 offers increased throughput for running multiplex molecular assays on an instrument that is half the size of its predecessor. The automated system simplifies laboratory workflow by minimizing hands-on time.
Well-suited to clinical research or reference laboratories, the NanoChip(R) 400's ability to develop and test a user defined panel of mutations on one chip makes it easier and more cost effective to use than research-grade thousand-gene chip arrays. The system is ideal for mid- to high-volume laboratories where the need to streamline testing and workflow is a high priority.
Based on patented Nanogen technology that combines microelectronics and biology, electrical potential is controlled at each of the 400 test sites to move and concentrate DNA or RNA, providing accuracy, speed and flexibility for developing molecular diagnostic tests. Nanogen's previous 100-site microarray was the first chip with multiplexing capabilities to be used by clinical labs in North America, and now customers can benefit from the NanoChip(R) 400's higher-throughput and new on-chip memory, which stores critical information when performing genetic analysis or detecting infectious disease agents. The NanoChip(R) 400's open-architecture design permits users to define, select and build their own test panels or select from Nanogen's predefined analyte specific reagents (ASRs). ASHG conference attendees can view demonstrations of the instrument and learn about Nanogen's same-day technical support and training available either on-site or at the company's Customer Applications Laboratory in San Diego.
"The NanoChip(R) 400 incorporates features requested by customers from their experience with our first workstation together with Nanogen's most advanced technology to produce a versatile, reliable and automated platform for developing and performing molecular tests in clinical labs," said Howard C. Birndorf, Nanogen chairman and chief executive officer. "Our next step in offering advanced diagnostics will be to build our portfolio of ASRs to detect genetic mutations and infectious disease agents. The NanoChip(R) 400 and our growing portfolio of ASRs will provide our customers a wide variety of high-quality products for conducting simple to complex molecular analyses."
The NanoChip(R) 400 is manufactured by Nanogen's long-standing collaborator Hitachi Instruments Group under the Food and Drug Administration's Good Manufacturing Practices guidelines. The instrument will be available for customers beginning in 2005. Additional information is available by calling 877-NANOGEN or by visiting www.nanogen.com.
About Nanogen, Inc.
Nanogen's advanced diagnostics provide physicians and patients worldwide with sophisticated information to predict, diagnose and treat disease. Research and clinical reference labs use the highly accurate and reliable NanoChip(R) 400, NanoChip(R) Molecular Biology Workstation, NanoChip(R) Electronic Microarrays and analyte specific reagents to develop tests to detect mutations associated with genetic diseases. Nanogen's subsidiary SynX offers a line of point-of-care diagnostic tests and is building expertise in cardiac related health conditions. Nanogen's ten years of pioneering research involving nanotechnology may also have future applications in medical diagnostics, biowarfare and other industries. For additional information please visit Nanogen's website at www.nanogen.com.
This press release contains forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements, including whether patents owned or licensed by Nanogen will be developed into products, whether the patents owned by Nanogen offer any protection against competitors with competing technologies, whether Nanogen's NanoChip(R) 400 can be successfully further commercialized, whether other products under development can be successfully developed and commercialized, whether results reported by our customers or partners can be identically replicated, whether ASRs currently sold by Nanogen will become FDA-approved molecular diagnostic test kits, whether Nanogen will be successful in developing additional ASRs and protocols utilizing the NanoChip(R) System, and other risks and uncertainties discussed under the caption "Factors That May Affect Results" and elsewhere in Nanogen's Form 10-K or Form 10-Q most recently filed with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. Nanogen disclaims any intent or obligation to update these forward-looking statements.
SOURCE Nanogen, Inc.
CONTACT: Robert Saltmarsh, Nanogen VP Corporate Development, +1-858-410-4600, email@example.com; or Pam Lord of Atkins + Associates, +1-858-527-3494, firstname.lastname@example.org, for Nanogen, Inc.
Web site: nanogen.com