Transgenomic and the Medical College of Wisconsin Announce Collaboration to Provide Next-Generation Sequencing Testing
Argot PartnersDavid Pitts, 212-600-1902orTransgenomic, Inc.Investor Relations, 402-452-5416orMaureen Mack, 414-955-4744Director of Media Relations, Medical College of Wisconsin
and thetoday announced a collaboration agreement under which Transgenomic will offer next-generation genetic testing services performed at the MCW Clinical Sequencing Program. These services will initially include Transgenomic's NuclearMitome Test for mitochondrial disorders.
Under the agreement, the MCW laboratory will become the first laboratory to offer Transgenomic's NuclearMitome Test. The NuclearMitome Test employs next-generation sequencing technology to identify mutations in 448 genes that are considered important for mitochondrial function, representing the most comprehensive genetic test available for mitochondrial disorders. Mitochondrial disorders are often caused by inherited or acquired mutations in mitochondrial DNA and can result in symptoms affecting multiple organ systems, including the liver, the brain and nervous system, kidneys, and cardiovascular function.
"The NuclearMitome Test is designed to improve the speed and precision of diagnosis for a host of mitochondrial disorders, allowing clinicians to plan the most effective treatment strategy," said Craig Tuttle, Chief Executive Officer of Transgenomic. "The Medical College of Wisconsin is a world-renowned institution with a robust presence in genomics and genetic testing. This collaboration allows Transgenomic to rapidly expand the commercial use of our NuclearMitome Test in addition to building out our offerings in whole genome and exome testing. We look forward to working with MCW, and to building rapid value through these products."
"Diagnosing mitochondrial disorders can be quite challenging and, until now, has typically involved the use of wide-ranging genetic and non-genetic tests as well as consultation with various medical specialties," said Howard Jacob, Ph.D., Director of the Human and Molecular Genetics Center at MCW. "The ability to evaluate 400-plus genes with one diagnostic tool should shorten patients' diagnostic odysseys and provide faster answers. We look forward to a successful partnership."
Mitochondrial diseases are the most common metabolic diseases of childhood with an estimated frequency of 1 in 2000 births. They are characterized by multi-organ involvement, particularly neuromuscular symptoms, and often follow a rapidly progressive course. The variability in clinical presentation makes diagnosis tremendously challenging, as it traditionally relies on often-inconclusive enzymatic analyses that do not pinpoint the underlying molecular defect. Knowledge of the specific cause of disease can be important for developing personalized treatment strategies.
The Medical College of Wisconsin is the state's only private medical school and health sciences graduate school. Founded in 1893, it is dedicated to leadership and excellence in education, patient care, research and service. More than 1,200 students are enrolled in the Medical College's medical school and graduate school programs. A major national research center, it is the largest research institution in the Milwaukee metro area and second largest in Wisconsin. In FY 2010 – 11, faculty received more than $175 million in external support for research, teaching, training and related purposes, of which more than $161 million is for research. This total includes highly competitive research and training awards from the National Institutes of Health (NIH). Annually, College faculty direct or collaborate on more than 2,200 research studies, including clinical trials. Additionally, more than 1,350 physicians provide care in virtually every specialty of medicine for more than 400,000 patients annually. In partnership with Children's Hospital and Health System, MCW developed one of the first whole genome sequencing clinics.
Transgenomic, Inc. () is a global biotechnology company advancing personalized medicine in cancer and inherited diseases through its proprietary molecular technologies and world-class clinical and research services. The Company has three complementary business divisions: Transgenomic Pharmacogenomic Services is a contract research laboratory that specializes in supporting all phases of pre-clinical and clinical trials for oncology drugs in development; Transgenomic Clinical Laboratories, which specializes in molecular diagnostics for cardiology, neurology, mitochondrial disorders, and oncology; and Transgenomic Diagnostic Tools which produces equipment, reagents, and other consumables that empower clinical and research applications in molecular testing and cytogenetics. Transgenomic believes there is significant opportunity for continued growth across all three businesses by leveraging their synergistic capabilities, technologies, and expertise. The Company actively develops and acquires new technology and other intellectual property that strengthens its leadership in personalized medicine.
Certain statements in this press release constitute "forward-looking statements" of Transgenomic within the meaning of the Private Securities Litigation Reform Act of 1995, which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Forward-looking statements include, but are not limited to, those with respect to management's current views and estimates of future economic circumstances, industry conditions, company performance and financial results, including the ability of the Company to grow its involvement in the diagnostic products and services markets. The known risks, uncertainties and other factors affecting these forward-looking statements are described from time to time in Transgenomic's filings with the Securities and Exchange Commission. Any change in such factors, risks and uncertainties may cause the actual results, events and performance to differ materially from those referred to in such statements. Accordingly, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 with respect to all statements contained in this press release. All information in this press release is as of the date of the release and Transgenomic does not undertake any duty to update this information, including any forward-looking statements, unless required by law.