Quest Diagnostics and Celera Diagnostics to Collaborate in Cardiovascular Disease and Diabetes
Teterboro, NJ and Alameda, CA - October 02, 2002
Quest Diagnostics Incorporated (NYSE:DGX) and Celera Diagnostics, a joint venture between the Applied Biosystems Group (NYSE:ABI) and the Celera Genomics Group (NYSE:CRA) of Applera Corporation, today announced an agreement to collaborate in establishing the clinical utility of laboratory tests based on novel diagnostic markers for cardiovascular disease and diabetes. This collaboration will support current and future disease association studies at Celera Diagnostics that seek to identify genetic markers associated with these important diseases.
The agreement provides Quest Diagnostics with exclusive access to markers found to have clinical utility through the collaboration for a defined time, and establishes Celera Diagnostics as a preferred vendor to Quest Diagnostics for certain molecular diagnostic products. Additional terms of the agreement were not disclosed.
“We are pleased to collaborate with Celera Diagnostics to develop commercial applications for its anticipated ground-breaking scientific discoveries in the critical areas of cardiovascular disease and diabetes,” said Kenneth W. Freeman, Chairman and Chief Executive Officer of Quest Diagnostics. “Our clinical expertise, combined with Celera Diagnostics’ recognized research capability, should expand access to the diagnostic and therapeutic insights made available through gene-based technology for millions of patients and their physicians.”
“This collaboration is important to Celera Diagnostics in establishing the medical and economic value of our discoveries,” said Kathy Ordoñez, President, Celera Diagnostics. “We look forward to working with Quest Diagnostics to help ensure that physicians and their patients obtain rapid access to tests for these serious diseases.”
The disease association studies described in today’s announcement are being conducted by Celera Diagnostics. In June 2002, Abbott Laboratories and Celera Diagnostics formed a long-term strategic alliance to develop, manufacture and market a broad range of in vitro molecular diagnostic products for disease detection, disease progression monitoring and therapy selection. The alliance focuses on development of nucleic acid-based tests for infectious and genetic diseases and cancer. The two companies are contributing current products to the alliance and collaborating on the development of new products.
About Quest Diagnostics
Quest Diagnostics Incorporated is the nation's leading provider of diagnostic testing, information and services, providing insights that enable physicians, hospitals, managed care organizations and other healthcare professionals to make decisions to improve health. The company offers the broadest access to diagnostic laboratory services through its national network of laboratories and patient service centers. Quest Diagnostics is the leading provider of esoteric testing, including gene-based medical testing, and empowers healthcare organizations and clinicians with state-of-the-art connectivity solutions that improve practice management. Additional company information can be found on the Internet at: www.questdiagnostics.com.
The statements in this press release that are not historical facts or information may be forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause the outcome to be materially different. Certain of these risks and uncertainties are listed in the Quest Diagnostics Incorporated 2001 Form 10-K and subsequent filings.
About Celera Diagnostics and Applera Corporation
Celera Diagnostics is a 50/50 joint venture between two Applera Corporation businesses, Applied Biosystems and Celera Genomics. Headquartered in Alameda, CA, Celera Diagnostics focuses on discovering novel genetic markers for disease and configuring these into new diagnostic tests to predict, characterize, monitor and select therapy for cardiovascular disease, auto-immunity, central nervous system disorders, and cancer. The Applied Biosystems Group develops and markets instrument-based systems, reagents, software, and contract services to the life science industry and research community. Customers use these tools to analyze nucleic acids (DNA and RNA), small molecules, and proteins to make scientific discoveries, leading to the development of new pharmaceuticals, and to conduct standardized testing. Applied Biosystems is headquartered in Foster City, CA, and reported sales of $1.6 billion during fiscal 2002. The Celera Genomics Group, located in Rockville, MD, and South San Francisco, CA, is engaged principally in integrating advanced technologies to discover and develop new therapeutics. Celera intends to leverage its proteomics, bioinformatics, and genomics capabilities to identify and validate drug targets and diagnostic marker candidates, and to discover and develop novel therapeutic candidates. Its Celera Discovery System™ online platform, marketed exclusively through the Knowledge Business of Applied Biosystems, is an integrated source of information based on the human genome and other biological and medical sources. Information about Applera Corporation, including reports and other information filed by the company with the Securities and Exchange Commission, is available at www.applera.com, or by telephoning 800.762.6923.
Certain statements in this press release are forward-looking. These may be identified by the use of forward-looking words or phrases such as “believe,” “expect,” and “should,” among others. These forward-looking statements are based on Applera Corporation’s current expectations. The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for such forward-looking statements. In order to comply with the terms of the safe harbor, Applera notes that a variety of factors could cause actual results and experience to differ materially from the anticipated results or other expectations expressed in such forward-looking statements. These factors include but are not limited to (1) unproven ability of Celera Diagnostics to discover, develop, and commercialize diagnostic products; (2) unproven use of genomics information to develop diagnostic products; (3) uncertainty in obtaining intellectual property protection for inventions made by Celera Diagnostics, and uncertainty in obtaining any necessary third party intellectual property licenses; (4) uncertainty that Celera Diagnostics will be able to obtain access to the tissue samples and other biological materials necessary for its research and development efforts; (5) possibility of delays in making Celera Diagnostics’ manufacturing facility fully operational and unproven ability to scale up manufacturing as product sales increase; and (6) other factors that might be described from time to time in Applera’s filings with the Securities and Exchange Commission. All information in this press release is as of the date of the release, and Applera does not undertake any duty to update this information, including any forward-looking statements, unless required by law.
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