Strategic Diagnostics Announces Successful Expansion of
Proprietary Antibody Technology into the Japanese Life Science Industry through Partnership with Oriental Yeast Company
NEWARK, Del.--(BUSINESS WIRE)--January 30, 2007 Strategic Diagnostics Inc. (Nasdaq:SDIX) - today announced that its partnership with the Oriental Yeast Company is meeting commercialization targets for its Genomic Antibodies(TM) service offering within the Japanese Life Science industry.
In September of 2006 Oriental Yeast Company (OYC) and Strategic Diagnostics Inc. (SDI) expanded their relationship by designating OYC as SDI's exclusive distributor of Genomic Antibodies(TM) in Japan. In a Japanese trade release, OYC projected a run-rate of $1 million in incremental sales during the first year of commercialization. OYC has a strong direct sales force with long standing relationships in the leading Japanese Biotechnology, Diagnostic, and Pharmaceutical companies. OYC was already representing SDI's large-scale production antibody business for various mission critical reagents.
"We are pleased with the initial effort of OYC's Life Sciences team and the growing momentum in building demand for custom polyclonal and monoclonal antibodies using our Genomic Antibodies(TM) technology platform," commented Matt Knight, President and CEO of Strategic Diagnostics. "With about 12 weeks now under our belt, we feel confident that OYC will continue to see adoption of the Genomic Antibodies(TM) platform, consistent with their sales projections."
Genomic Antibodies(TM) technology generates novel antibody reagents faster, more cost effectively, and without the need for purified protein or peptide. Customers only need to supply genetic sequence of their protein of interest electronically to begin generating a custom antibody project. By using a proprietary vector system, native protein is expressed by the host animal, in a manner that elicits an immune response to the encoded protein. This method allows the production of an antibody generated against the protein's native structure, as opposed to standard methods that use a synthesized surrogate. The advantages of this system allow the development of reagents against traditionally intractable targets such as highly conserved and transmembrane proteins. The system is highly scaleable, allowing the generation of custom libraries consisting of hundreds of antibodies.
Oriental Yeast Company is a leader in supplying recombinant proteins and custom recombinant services to the Life Science industry. Its own innovative technology, HiCEP, is a proprietary, custom service for gene analysis, which unlike traditional microarrays, does not require the customer to have prior information about the target genes. HiCEP is able to identify both small variations in expression levels within living cells, and new transcripts within a cell. These new transcripts can then be studied further for their role in disease by using the newly discovered sequence as antigen information within the Genomic Antibodies(TM) platform to create novel antibody tools.
Toshikuni Naito, President and CEO of OYC commented, "Our technologies are complementary and allow OYC to provide the innovative tools and services that allow our customers to more rapidly and cost effectively advance their research and discovery initiatives. We look forward to both HiCEP and Genomic Antibodies(TM) playing an important role in protein therapeutics and biomarker discovery."
About Strategic Diagnostics Inc.
Strategic Diagnostics Inc. develops, manufactures and markets biotechnology-based detection solutions to a diverse customer base, across multiple industrial and human health markets. By applying its core competency of creating custom antibodies to assay development, the Company produces unique, sophisticated diagnostic testing and reagent systems that are responsive to customer diagnostic and information needs. Customers benefit with quantifiable "return on investment" by reducing time, labor, and/or material costs. All this is accomplished while increasing accuracy, reliability and actionability of essential test results. The Company is focused on sustaining this competitive advantage by leveraging its expertise in immunology, proteomics, bio-luminescence and other bio-reactive technologies to continue its successful customer-focused research and development efforts. Recent innovations in high throughput production of antibodies from genetic antigens will complement the Company's established leadership in commercial and custom antibody production for the Research, Human/Animal Diagnostics, and Pharmaceutical industries, and position the Company for broader participation in the pharmacogenomics market.
This news release contains forward-looking statements reflecting SDI's current expectations. When used in this press release, the words "anticipate", "could", "enable", "estimate", "intend", "expect", "believe", "potential", "will", "should", "project", "plan" and similar expressions as they relate to SDI are intended to identify said forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainties, which may cause actual results to differ from those anticipated by SDI at this time. Such risks and uncertainties include, without limitation, changes in demand for products, delays in product development, delays in market acceptance of new products, retention of customers and employees, adequate supply of raw materials, inability to obtain or delays in obtaining fourth party, including AOAC, or required government approvals, the ability to meet increased market demand, competition, protection of intellectual property, non-infringement of intellectual property, seasonality, and other factors more fully described in SDI's public filings with the U.S. Securities and Exchange Commission.
CONTACT: Company Contact: Strategic Diagnostics Inc. Matthew H. Knight, 302-456-6789 www.sdix.com or Investor Contact: Hayden Communications Brett Maas, 646-536-7331 email@example.com