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Quidel Corporation Announces Exclusive Licenses to Molecular Antiviral Resistance and Detection Technology for Influenza
SAN DIEGO--(BUSINESS WIRE)--July 17, 2007--Quidel Corporation (NASDAQ:QDEL), a leading provider of rapid point-of-care diagnostic tests, today announced exclusive, worldwide licenses to the antiviral resistance microarray-based influenza detection technology (AVR-Chip) and to the microarray-based influenza B detection technology (BChip), both developed by scientists at the University of Colorado at Boulder (CU-Boulder) in close collaboration with the U.S. Centers for Disease Control and Prevention (CDC).
"We are extremely pleased to enter into these agreements with the University of Colorado, as it strengthens Quidel's technology foundation in influenza diagnostics," commented Caren Mason, president and CEO. "Exclusive access to molecular-based technologies for influenza B diagnostics, and for detection of antiviral resistance, greatly complements our ongoing progress with our MChip technology for influenza A, which was licensed in December 2006 from CU-Boulder. These licenses also reinforce our commitment to market leadership in rapid point-of-care influenza diagnostics."
The AVR-Chip is useful in identifying mutations that may confer resistance to antiviral reagents and may then facilitate proper influenza treatment decisions. The ability to identify antiviral susceptibility is important for global monitoring of influenza patterns, and for directing physicians toward better treatment decisions.
The BChip can detect influenza B virus strains, for example B/Victoria/2/87 and B/Yamagata/16/88. This information is critical in determining seasonal influenza vaccines. In a recent study of 62 influenza B virus samples from 19 countries, dating from 1945 to 2005, as well as five negative control samples, the BChip exhibited 97% sensitivity and 100% specificity, with no false positives.(1)
"After many years of faculty research, we are excited to have executed three licenses with a leading company in the diagnostic industry. This arrangement has the potential to help millions of people," said David Allen, CU's associate vice president for technology.
About Quidel Corporation
Quidel Corporation serves to enhance the health and well being of people around the globe through the discovery, development, manufacturing and marketing of rapid diagnostic solutions at the point of care (POC) in infectious diseases and reproductive health. Marketed under the leading brand name of QuickVue(R), Quidel's portfolio of products currently includes tests that aid in the diagnosis of several disease or condition states, including influenza, respiratory syncytial virus, Fecal Occult Blood, Strep A, pregnancy, bacterial vaginosis, H. pylori and Chlamydia. Quidel's products are sold to healthcare professionals with a focus on the physician office lab and acute care markets through leading medical distribution partners on a worldwide basis. Quidel's Specialty Products Group (SPG) develops research products in the fields of oncology and bone health with potential future point-of-care applications. By building value in rapid diagnostic tests, Quidel provides leadership to the industry and among healthcare professionals allowing for the movement of patient testing out of the central laboratory setting and into the physician office, urgent care and other outpatient settings where rapid testing and treatment has an impact on clinical outcomes and provides an economic benefit. For more information, visit www.quidel.com, www.flutest.com, or www.colorectal-test.com.
This press release contains forward-looking statements within the meaning of the federal securities laws that involve material risks, assumptions and uncertainties. Many possible events or factors could affect our future financial results and performance, such that our actual results and performance may differ materially. As such, no forward-looking statement can be guaranteed. Differences in actual results and performance may arise as a result of a number of factors including, without limitation, seasonality, the length and severity of cold and flu seasons, uncertainty surrounding the detection of novel influenza viruses involving human specimens, adverse changes in the competitive and economic conditions in domestic and international markets, actions of our major distributors, technological changes and uncertainty with research and technology development, including any future molecular-based technology, the reimbursement system currently in place and future changes to that system, manufacturing and production delays or difficulties, adverse actions or delays in product reviews by the U.S. Food and Drug Administration (the "FDA"), intellectual property, product liability, environmental or other litigation, required patent license fee payments not currently reflected in our costs, potential inadequacy of booked reserves and possible impairment of goodwill, and lower than anticipated sales or market penetration of our new products. Forward-looking statements typically are identified by the use of terms such as "may," "will," "should," "might," "expect," "anticipate," "estimate," and similar words, although some forward-looking statements are expressed differently. The risks described under "Risk Factors" in reports and registration statements that we file with the SEC from time to time should be carefully considered. You are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date of this press release. We undertake no obligation to publicly release the results of any revision or update of the forward-looking statements.
(1) Dankbar DM, Dawson ED, Mehlmann M, Moore CL, Smagala JA, Shaw MW, Cox NJ, Kuchta RD and Rowlen KL, Diagnostic Microarray for Influenza B Viruses. Anal. Chem. 2007, 79:2084-2090.
John Radak, Chief Financial Officer, 858-552-7962
Lippert/Heilshorn & Associates
Don Markley/Bruce Voss, 310-691-7100
SOURCE: Quidel Corporation