Healthcare Industry News: peripheral artery disease
News Release - January 3, 2007
Ciphergen Announces Second Development Program With Quest Diagnosticsperipheral artery disease Diagnostic to be Jointly Developed
FREMONT, Calif., Jan. 3 (HSMN NewsFeed) -- Ciphergen Biosystems, Inc. (Nasdaq: CIPH ) today announced that Quest Diagnostics Incorporated (NYSE: DGX ) has accepted the second development plan from Ciphergen under their existing strategic alliance agreement. In addition to the current ovarian tumor triage test, Quest Diagnostics will now also assist Ciphergen in the development of a blood-based assay for the detection of peripheral artery disease (PAD).
"We are pleased that Quest Diagnostics has chosen the development of this PAD diagnostic test as the second of three programs that we will jointly develop," said Gail S. Page, President and CEO of Ciphergen. "The first program under our strategic alliance, an ovarian tumor triage test, is making excellent progress."
Ciphergen is working with Stanford University to develop a blood test that will help physicians in the diagnosis of PAD. Similar to cardiovascular disease, PAD is caused by the buildup of fat and cholesterol, known as plaque, in the peripheral arteries and disrupts normal bloodflow leading to stenosis, an embolism or thrombus formation. peripheral artery disease affects 8 to 12 million Americans. Research has shown that nearly 75 percent of people with PAD do not experience symptoms. Proper diagnosis and early treatment can significantly improve the prognosis for patients with this debilitating disease.
Ciphergen's comprehensive diagnostic development programs are being conducted with several leading collaborators at Stanford University, The Johns Hopkins School of Medicine, The University of Texas M.D. Anderson Cancer Center, University College London, and the University of Kentucky.
Ciphergen Biosystems, Inc. is dedicated to the discovery, development and commercialization of novel high-value diagnostic tests that help physicians diagnose, treat and improve outcomes for patients. Ciphergen, along with its prestigious scientific collaborators, has ongoing diagnostic programs in oncology, cardiology and women's health with an initial focus in ovarian cancer. Based in Fremont, California, more information about Ciphergen can be found on the web at http://www.ciphergen.com .
Safe Harbor Statement
Note Regarding Forward-Looking Statements: This press release contains forward-looking statements. For purposes of the Private Securities Litigation Reform Act of 1995 (the "Act"), Ciphergen disclaims any intent or obligation to update these forward-looking statements, and claims the protection of the Safe Harbor for forward-looking statements contained in the Act. Examples of such forward-looking statements include statements regarding the progress of our development of diagnostic tests for ovarian cancer and peripheral artery disease. Actual results may differ materially from those projected in such forward-looking statements due to various factors, including the possibility that future development efforts may not proceed as anticipated. Investors should consult Ciphergen's filings with the Securities and Exchange Commission, including its Form 10-Q filed November 20, 2006, for further information regarding these and other risks related to the Company's business.
NOTE: Ciphergen is a registered trademark of Ciphergen Biosystems, Inc.
Source: Ciphergen Biosystems
Issuer of this News Release is solely responsible for its
Please address inquiries directly to the issuing company.