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Nanogen, Inc. (Nasdaq:NGEN), developer of advanced diagnostic products, announced today that it has delivered the second phase milestone requirements, including the point-of-care prototype device to detect influenza viruses rapidly in clinical samples, to the Center for Disease Control and Prevention (CDC) for their evaluation. Nanogen, together with business partner HX Diagnostics, had been awarded a contract from the CDC to fund an accelerated multiphase development plan for a rapid diagnostic test for pandemic flu. Delivery of the prototype device is an important milestone demonstrating the feasibility of meeting the CDC's specifications for the rapid test. The company is continuing product development and initiating clinical trials with further funding of the project pending approval by the CDC.
"We're very excited with the progress we have made on this project" stated Howard Birndorf, CEO of Nanogen. "Meeting the CDC requirements to develop a rapid but highly sensitive diagnostic test that would identify multiple influenza strains has been challenging. We're proud of the innovative development work done by our team and pleased to bring our expertise in advanced diagnostic technologies and infectious diseases to bear on this important global healthcare problem."
Each year 5%-20% of the U.S. population is affected by the influenza virus with approximately 36,000 deaths each year caused by the infection. Healthcare agencies, like the CDC, are concerned about the possibility of a deadly subtype, like avian flu, rapidly emerging and causing a pandemic. Tests like the one being developed by Nanogen under this contract will not only help healthcare providers to reliably diagnose the influenza virus but, also will be able to act as a sentinel for a potential outbreak of a pandemic H5 strain.
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 and kits based on the Companyís proprietary probe technology branded as MGB Alertģ and Q-PCR Alert, and a line of rapid point-of-care diagnostic tests used in urgent care settings to aid in the diagnosis of heart failure conditions. 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 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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Robert Saltmarshm, Chief Financial Officer, 858-410-4600
Kelly Gann, Marketing Communications, 858-410-4667
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