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Nanogen, Inc. (Nasdaq:NGEN), developer of advanced diagnostic products, announced today that it has entered into an agreement whereby the company acquired rights to genetic markers related to schizophrenia and responses to antipsychotic therapies. The agreement is between Nanogen and the Co-operative Research Centre for Diagnostics and Queensland University of Technology in Australia.
Nanogen plans to utilize the markers to create diagnostic tests for schizophrenia and related conditions. Some of these markers may also help predict adverse drug reactions and therefore guide therapeutic decision-making.
"Schizophrenia affects approximately one percent of the U.S. population, with an estimated cost to the health care system of $63 billion annually," said David Ludvigson, Nanogen's president and chief operating officer. "Due to its complexity - schizophrenia, like many mental disorders, is believed to be caused by mutations in multiple genes - development of effective diagnostics and treatments is likely to require multiplexed analytic methods capable of examining multiple genes simultaneously."
Nanogen's NanoChipģ multiplexing platform was recently submitted for FDA 510(K) clearance, along with the company's cystic fibrosis carrier screening test.
The genetic component of schizophrenia is thought to account for 65-80% of the disease risk. The markers acquired by Nanogen are in genes that have been linked to schizophrenia in a number of clinical studies.
Schizophrenia is a chronic, severe, and disabling brain disorder that has been recognized throughout recorded history. People with schizophrenia may hear voices or believe that others are reading their minds, controlling their thoughts, or plotting to harm them. These experiences are terrifying and can cause fearfulness, withdrawal, or extreme agitation. Available treatments can relieve many of the disorder's symptoms, but most people who have schizophrenia must cope with some residual symptoms as long as they live. Because many people with schizophrenia have difficulty holding a job or caring for themselves, the burden on their families and society is significant. For additional information, see http://www.nimh.nih.gov/publicat/schizoph.cfm#definition .
About Nanogen, Inc.
Nanogenís advanced technologies provide researchers, clinicians and physicians worldwide with improved methods and tools to predict, diagnose, and ultimately help treat disease. The company's products include real-time PCR reagents, the NanoChipģ electronic microarray platform and a line of rapid, point-of-care diagnostic tests. Nanogenís ten years of pioneering research involving nanotechnology holds the promise of miniaturization and continues to be supported for its potential for diagnostic and biodefense applications. For additional information please visit Nanogenís website at http://www.nanogen.com .
Nanogen Forward-Looking Statement
This press release contains forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements, including whether patents owned or licensed by Nanogen will be developed into products, whether the patents owned by Nanogen offer any protection against competitors with competing technologies, whether products under development can be successfully developed and commercialized, whether results reported by our customers or partners can be identically replicated, and other risks and uncertainties discussed under the caption "Factors That May Affect Results" and elsewhere in Nanogenís Form 10-K or Form 10-Q most recently filed with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. Nanogen disclaims any intent or obligation to update these forward-looking statements.
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