ViroLogic Changes Its Name to Monogram Biosciences
06 September 2005 - 10:30PM
PR Newswire (US)
Conference Call Scheduled for 4:30 p.m. Eastern Today SO. SAN
FRANCISCO, Calif., Sept. 6 /PRNewswire-FirstCall/ -- ViroLogic,
Inc., (NASDAQ:VLGC) announced today that it is changing its name to
Monogram Biosciences, Inc. Effective September 7, 2005, the
Company's common stock will trade under the ticker symbol Nasdaq:
MGRM. The contingent value rights (CVRs) will trade under the
symbol: MGRMR.OB. "Our new name reflects our broader commitment to
extend our pioneering efforts in individualized medicine beyond
viral diseases and into oncology and other serious diseases,"
stated William D. Young, Monogram's Chairman and Chief Executive
Officer. "Through our leading edge technologies and innovative
product offerings, Monogram's mission is to tailor patient
management and enhance pharmaceutical development for these
diseases -- and to be the Mark of Individualized Medicine." The
Mark of Individualized Medicine(TM) Monogram, formerly ViroLogic,
Inc., has been at the forefront of individualized medicine since
1999. The change to Monogram reflects the Company's broader
technology base and capabilities in the field of molecular
diagnostics for cancer, derived from its merger with ACLARA
Biosciences in December 2004. The Company develops and
commercializes innovative products to help guide and improve the
treatment of infectious diseases, cancer and other serious
diseases. These products enable: -- Healthcare providers to
optimize treatment regimens for their patients. Providers may also
be able to reduce healthcare costs by matching the underlying
molecular elements of an individual patient's disease to the drug
best able to affect those elements. -- Pharmaceutical companies to
develop new and improved antiviral therapeutics and vaccines, as
well as targeted cancer therapeutics. Monogram provides enhanced
patient selection and monitoring capabilities throughout the
development process. HIV The treatment of HIV is difficult for
infected individuals who must live with complex regimens, side
effects, drug resistance, and other issues. It is also a challenge
for healthcare providers who work hard to make sure that their
patients are getting the right drugs, finding ways to cope with
side effects, and most importantly, staying healthy. Monogram has
developed HIV assays to help make the complexities of
antiretroviral therapy easier to manage. The Company's phenotype
and genotype resistance tests, phenotype plus genotype combination
test and viral fitness test are intended to help healthcare
providers choose the drugs that will provide the greatest benefit
to the individual over the long term. For its biopharmaceutical
partners, Monogram provides accurate, advanced and comprehensive
technologies for measuring drug resistance and other viral
characteristics -- information essential for the development of
drugs and vaccines for infectious diseases. For example, Monogram's
new PhenoSense(TM) HIV Co-receptor Tropism assay is being used in
all currently ongoing late-stage trials of the new class of entry
inhibitor drugs called CCR5 inhibitors. The assay measures the
ability of an individual's HIV to use certain receptors on host
cells that have been associated with more rapid disease progression
and poorer clinical outcome. This information may be valuable in
deciding what co-receptor should be targeted and thus what drug
should be used. The dominant receptors can change over time, so
monitoring changes is important for treatment effectiveness. Cancer
More than one million new cases of solid tumor cancer are diagnosed
each year in the U.S., with four cancer types (breast, prostate,
lung, and colorectal) accounting for over 700,000 of these. Despite
varied therapeutic modalities -- surgery, radiation, chemotherapy,
and biotherapeutics -- healthcare providers have a critical unmet
need for more accurate prognostic and diagnostic tools and more
effective, safer therapeutics. Monogram's unique eTag(TM)
technology is designed to accelerate the development of targeted
therapeutics, improve clinical trial design and results, clarify
and individualize the selection of medications, and optimize
outcomes for patients with cancer and other serious diseases.
Conference Call Details We will host a conference call today at
4:30 p.m. Eastern Time. To participate in the live teleconference
call 800-289-0496 fifteen minutes before the conference begins.
Live audio of the call will be simultaneously broadcast over the
Internet and will be available to members of the news media,
investors and the general public. Access to live and archived audio
of the conference call will be available by following the
appropriate links at http://www.monogrambio.com/ and clicking on
the Investor Relations link. Following the live broadcast, a replay
of the call will also be available at 888-203-1112, or 719-457-0820
for international callers, until September 13th, 2005. The replay
passcode is 9938427. The information provided on the teleconference
is only accurate at the time of the conference call, and Monogram
will take no responsibility for providing updated information
except as required by law. About Monogram Biosciences, Inc.
Monogram, formerly ViroLogic, Inc., develops and commercializes
innovative products to help guide and improve the treatment of
infectious diseases, cancer and other serious diseases. The
Company's products are designed to help doctors optimize treatment
regimens for their patients that lead to better outcomes and
reduced costs. Monogram's technology is also being used by numerous
biopharmaceutical companies to develop new and improved antiviral
therapeutics and vaccines as well as targeted cancer therapeutics.
More information can be found at http://www.monogrambio.com/. NOTE:
The Mark of Individualized Medicine(TM), PhenoSense(TM) and
eTag(TM) are all registered trademarks of Monogram Biosciences,
Inc. FORWARD LOOKING STATEMENTS Certain statements in this press
release are forward-looking, including statements regarding the
activities expected to occur in connection with the name-change and
stock ticker change. These forward-looking statements are subject
to risks and uncertainties and other factors, which may cause
actual results to differ materially from the anticipated results or
other expectations expressed in such forward-looking statements.
These risks and uncertainties include, but are not limited to,
risks and uncertainties relating to the performance of our
products; our ability to successfully conduct clinical studies and
the results obtained from those studies; whether larger
confirmatory clinical studies will confirm the results of initial
studies; our ability to establish reliable, high-volume operations
at commercially reasonable costs; expected reliance on a few
customers for the majority of our revenues; the annual renewal of
certain customer agreements; actual market acceptance of our
products and adoption of our technological approach and products by
pharmaceutical and biotechnology companies; our estimate of the
size of our markets; our estimates of the levels of demand for our
products; the timing and ultimate size of pharmaceutical company
clinical trials; whether payors will authorize reimbursement for
its products; whether the FDA or any other agency will decide to
regulate Monogram's products or services; whether the Company will
encounter problems or delays in automating its processes; whether
licenses to third party technology will be available; whether
Monogram is able to build brand loyalty and expand revenues; and
whether Monogram will be able to raise sufficient capital when
required. For a discussion of other factors that may cause
Monogram's actual events to differ from those projected, please
refer to the Company's most recent annual report on Form 10-K and
quarterly reports on Form 10-Q, as well as other subsequent filings
with the Securities and Exchange Commission. We do not undertake,
and specifically disclaim any obligation, to revise any
forward-looking statements to reflect the occurrence of anticipated
or unanticipated events or circumstances after the date of such
statements. DATASOURCE: Monogram Biosciences, Inc. CONTACT: Alfred
G. Merriweather, Chief Financial Officer of Monogram Biosciences,
Inc. (ViroLogic, Inc.), +1-650-624-4576, or ; or Carolyn Bumgardner
Wang of WeissComm Partners, +1-415-946-1065, or , for Monogram
Biosciences, Inc. (ViroLogic, Inc.) Web site:
http://www.virologic.com/
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