Invitrogen Renews, Expands License and Supply Agreement with Luminex
13 February 2008 - 12:00AM
Business Wire
Invitrogen Corporation (NASDAQ: IVGN), a provider of essential life
science technologies for research, production and diagnostics, and
Luminex Corporation (NASDAQ: LMNX), today announced the renewal and
expansion of Invitrogen�s license and supply agreement for
Luminex�s multiplexed analyte detection technology and systems. The
new agreement extends the lifetime of the license and provides
Invitrogen with access to Luminex�s next-generation multiplex
detection platforms. xMAP� Technology and Luminex instrument
platforms use proprietary microspheres - micron-sized beads -
encoded with combinations of spectrally distinct fluorescent dyes
to rapidly and reproducibly determine the relative concentrations
of many different proteins or peptides at the same time in the same
sample. Invitrogen offers more than 200 assays based on xMAP
Technology, comprising the most comprehensive multiplex protein
assay menu in life sciences for cellular pathway and disease
analysis. Invitrogen also has a large number of new multiplexed
assays in its product development pipeline to expand the number of
targets accessible to scientists. The company will offer custom
assay development services using the next-generation platform that
complement its existing service of rapid, affordable multiplex
assay development on the original Luminex platform. �We are pleased
with this new agreement and committed to our relationship with
Luminex,� said Kip Miller, Invitrogen�s Senior Vice President,
BioDiscovery. �It is another step in our strategy of building on
our position as the leading cell biology reagent provider to offer
our customers integrated systems and solutions.� �We believe the
extension of the agreement is beneficial for both companies, as
Luminex has quickly become a standard in the industry for
multiplexing and Invitrogen has the ability to offer the broadest
array of content for this important platform,� added August Sick,
Invitrogen Vice President and General Manager, Cellular Analysis
Business Unit. �The assays we will develop on Luminex�s
next-generation platform will further accelerate drug discovery and
cellular analysis.� �Luminex is pleased to extend and expand our
relationship with Invitrogen,� said Doug Bryant, executive vice
president and chief operating officer of Luminex. �Partnering with
innovative leaders such as Invitrogen is a key element in our
business strategy. We look forward to a valuable, long-term
collaboration with Invitrogen.� About Invitrogen Invitrogen
Corporation (Nasdaq:IVGN) provides products and services that
support academic and government research institutions and
pharmaceutical and biotech companies worldwide in their efforts to
improve the human condition. The company provides essential life
science technologies for disease research, drug discovery, and
commercial bioproduction. Invitrogen's own research and development
efforts are focused on breakthrough innovation in all major areas
of biological discovery including functional genomics, proteomics,
stem cells, cell therapy and cell biology -- placing Invitrogen's
products in nearly every major laboratory in the world. Founded in
1987, Invitrogen is headquartered in Carlsbad, California, and
conducts business in more than 70 countries around the world. The
company employs approximately 4,700 scientists and other
professionals and had revenues of approximately $1.3 billion in
2007. For more information, visit www.invitrogen.com. About Luminex
Corporation Luminex Corporation develops, manufactures and markets
proprietary biological testing technologies with applications
throughout the diagnostic and life sciences industries. The
Company�s xMAP� multiplex solutions include an open-architecture,
multi-analyte technology platform that delivers fast, accurate and
cost-effective bioassay results to markets as diverse as
pharmaceutical drug discovery, clinical diagnostics and biomedical
research, including the genomics and proteomics research markets.
The Company�s xMAP technology is sold worldwide and is already in
use in leading clinical laboratories as well as major
pharmaceutical, diagnostic and biotechnology companies. Further
information on Luminex Corporation or xMAP technology can be
obtained at www.luminexcorp.com. Safe Harbor Statement Certain
statements contained in this press release are considered
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995, and it is Invitrogen's
intent that such statements be protected by the safe harbor created
thereby. Forward-looking statements include, but are not limited
to: 1) the second generation platform will simplify and automate
the assays by eliminating time- and resource-consuming filtering
and washing steps from the sample preparation procedure; 2) the
existing assays will be converted to the new magnetic bead based
platform; 3) the company will offer custom assay development
services using the new platform to complement its existing service
of rapid, affordable multiplex assay development on the original
Luminex platform. Potential risks and uncertainties include, but
are not limited to: a) the assays based on this platform may or may
not comprise the most comprehensive multiplex protein assay menu in
life sciences for cellular pathway and disease analysis; b)
Invitrogen may or may not have a large number of new multiplexes in
its product development pipeline to expand the number of targets
accessible to scientists; and the risks that the market will not
accept the companies� products and services, or that the companies
will be unsuccessful in their efforts to develop new products and
services, as well as other risks and uncertainties detailed from
time to time in Invitrogen's Securities and Exchange Commission
filings.
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