OPKO Health Expands Collaboration with Bristol-Myers Squibb
MIAMI -- January 14, 2013
OPKO Health, Inc. (NYSE:OPK) announced that it has expanded its collaboration
with Bristol-Myers Squibb Company (NYSE:BMY) relating to OPKO’s diagnostic
test technology. OPKO’s simple blood tests are being developed, based on its
proprietary platform technology, to identify biomarkers for a wide variety of
diseases, including neurodegenerative disorders and various malignancies.
In December 2010, OPKO and Bristol-Myers Squibb entered into a multi-year
collaboration agreement to investigate the utility of OPKO's novel technology
for the diagnosis of Alzheimer's disease and for identifying individuals with
early stage cognitive impairment that are likely to progress to Alzheimer's
Under the expanded collaboration, work will continue on the Alzheimer’s
project and additional investigations will use OPKO’s technology in an attempt
to identify biomarkers that are predictive of drug response(s) in several
Phillip Frost, M.D., Chairman and Chief Executive Officer of OPKO, stated, "We
are pleased to expand our relationship and look forward to utilizing our novel
diagnostic technology to help Bristol-Myers Squibb identify novel biomarkers
predictive of drug response."
About OPKO Health, Inc.
OPKO is a multinational biopharmaceutical and diagnostics company that seeks
to establish industry leading positions in large, rapidly growing markets by
leveraging its discovery, development and commercialization expertise and
novel and proprietary technologies.
This press release contains "forward-looking statements," as that term is
defined under the Private Securities Litigation Reform Act of 1995 (PSLRA),
which statements may be identified by words such as "expects," "plans,"
"projects," "will," "may," "anticipates," "believes," "should," "could,"
"intends," "estimates," and other words of similar meaning, including
statements regarding our product development efforts, including our ability to
develop and commercialize diagnostic tests for Alzheimer's and other diseases
and malignancies, our ability to utilize our technology to identify biomarkers
that are predictive of drug responses, and our ability to perform and complete
clinical studies required for regulatory approval, as well as other
non-historical statements about our expectations, beliefs or intentions
regarding our business, technologies and products, financial condition,
strategies or prospects. Many factors, including those described in our
filings with the Securities and Exchange Commission, could cause our actual
activities or results to differ materially from the activities and results
anticipated in forward-looking statements. In addition, forward-looking
statements may also be adversely affected by risks inherent in funding,
developing and obtaining regulatory approvals of new, commercially-viable and
competitive products and treatments, general market factors, competitive
product development, product availability, federal and state regulations and
legislation, the regulatory process for new products and indications,
manufacturing issues that may arise, patent positions and litigation, among
other factors. The forward-looking statements contained in this press release
speak only as of the date the statements were made, and we do not undertake
any obligation to update forward-looking statements. We intend that all
forward-looking statements be subject to the safe-harbor provisions of the
OPKO Health, Inc.
Steven D. Rubin or Juan F. Rodriguez, 305-575-4100
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