| - Molecular Diagnostic Test for HPV Will Leverage Gen-Probe's Superior Technology, Strong STD Franchise and High-Throughput TIGRIS(R) System - SAN DIEGO, Feb 15, 2005 /PRNewswire-FirstCall via COMTEX/ -- Gen-Probe (Nasdaq: GPRO)
announced today that the Company has signed a supply and purchase agreement
with F. Hoffmann-La Roche Ltd. and its affiliate Roche Molecular Systems, Inc.
under which Gen-Probe will purchase products for use in molecular diagnostic
assays for human papillomavirus (HPV).
Under the agreement, Roche will manufacture DNA probes for HPV, which
Gen-Probe will purchase at agreed-upon transfer prices. Gen-Probe also has
agreed to pay initial manufacturing fees in two installments. Gen-Probe plans
to use HPV probes supplied by Roche in APTIMA(R) format HPV test kits to
detect high-risk subtypes of HPV.
"Developing an HPV test is an important part of Gen-Probe's long-term
strategy to enter new markets where there are important medical needs and
attractive commercial opportunities," said Henry L. Nordhoff, chairman,
president and chief executive officer of Gen-Probe. "A highly sensitive and
specific HPV assay will fit perfectly with our strong STD franchise, and be an
ideal high-volume test to expand the menu of our fully automated, high-
throughput TIGRIS(R) system."
HPV is a group of viruses that includes more than 100 different subtypes.
Some types infect the skin and cause warts, whereas others are sexually
transmitted. Persistent infection with high-risk HPV subtypes is acknowledged
as the primary cause of cervical cancer, and high-risk subtypes are found in
more than 99% of cervical cancer cases. According to the U.S. Centers for
Disease Control, approximately 20 million people are currently infected with
HPV. At least 50% of sexually active men and women acquire HPV infection at
some point in their lives. According to the American Cancer Society, an
estimated 10,500 women developed invasive cervical cancer in 2004 and about
3,900 women died from the disease.
About Gen-Probe
Gen-Probe Incorporated is a global leader in the development, manufacture
and marketing of rapid, accurate and cost-effective nucleic acid tests (NATs)
for diagnosing human diseases and screening donated human blood. Gen-Probe
markets a broad portfolio of products that use the Company's patented
technologies to detect infectious microorganisms, including those causing
sexually transmitted diseases, tuberculosis, strep throat, pneumonia and
fungal infections. The Company also developed and manufactures the only FDA-
approved blood screening assay for the simultaneous detection of HIV-1 and
HCV, which is marketed by Chiron Corporation. In addition, Gen-Probe's TIGRIS
instrument is the only fully automated, high-throughput NAT system for
diagnostics and blood screening. Gen-Probe has more than 20 years of NAT
expertise, and its products are used daily in clinical laboratories and blood
collection centers worldwide. Gen-Probe is headquartered in San Diego and
employs approximately 900 people. For more information, go to
www.gen-probe.com.
Caution Regarding Forward-Looking Statements
Any statements in this press release about Gen-Probe's expectations,
beliefs, plans, objectives, assumptions or future events or performance are
not historical facts and are forward-looking statements. These statements are
often, but not always, made through the use of words or phrases such as
"believe," "will," "expect," "anticipate," "estimate," "intend," "plan," and
"would." For example, statements concerning new assay development and
manufacturing, assay performance, and the potential of the HPV market are
forward-looking statements. Forward-looking statements are not guarantees of
performance. They involve known and unknown risks, uncertainties and
assumptions that may cause actual results, levels of activity, performance or
achievements to differ materially from those expressed or implied by any
forward-looking statement. Some of the risks, uncertainties and assumptions
that could cause actual results to differ materially from estimates or
projections in the forward-looking statement include, but are not limited to:
(i) the risk that Roche's intellectual property may be infringed by third
parties or invalidated, (ii) the risk that Roche may not manufacture DNA
probes in accordance with the agreement, (iii) the risk that legal action by
others may prevent Gen-Probe from entering the HPV market, (iv) the risk that
Gen-Probe may not successfully develop HPV diagnostics, (v) the risk that the
HPV market will not grow as expected, (vi) the risk that Gen-Probe may not
enter new HPV diagnostic markets successfully or economically, and (vii) the
risk that Gen-Probe may not be able to maintain its current corporate
agreements, including with Roche, or enter into new ones.
For additional information about risks and uncertainties Gen-Probe faces
and a discussion of the Company's financial statements and footnotes, see
documents filed with the SEC, including the Report on Form 10-Q for the fiscal
quarter ended September 30, 2004 and all periodic filings made with the SEC.
Gen-Probe assumes no obligation and expressly disclaims any duty to update any
forward-looking statement to reflect events or circumstances after the date of
this news release or to reflect the occurrence of subsequent events.
For further information please contact Michael Watts, Sr. director,
investor relations and corporate communications of Gen-Probe Incorporated,
+1-858-410-8673.
SOURCE Gen-Probe Incorporated
Michael Watts, Sr. director, investor relations and corporate communications of
Gen-Probe Incorporated, +1-858-410-8673
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