The Luminis Group, Ltd.
for Third Wave Technologies Inc.
MADISON, Wis., July 16 /PRNewswire-FirstCall/ — Third Wave Technologies Inc. (NASDAQ:TWTI) today announced that it has signed a pharmacogenetics collaboration agreement with Laboratory Corporation of America(R) Holdings (LabCorp(R)) (NYSE:LH) , one of the world’s largest reference laboratories and a pioneer in commercializing new diagnostic technologies, to develop a companion diagnostic to help physicians personalize treatment for heart failure patients.
The test being developed with Third Wave’s Invader(R) chemistry may be used in conjunction with the prescription of bucindolol, a next-generation beta blocker being developed by ARCA Discovery, a privately-held company based in Denver, that holds promise to be the first genetically-targeted cardiovascular drug.
There is extensive Phase 3 efficacy and safety data of bucindolol in heart failure patients, including genetic data that ARCA will use to seek FDA approval in 2008 to target those patients most likely to respond. ARCA has exclusive, worldwide rights to bucindolol.
“Third Wave is pleased to collaborate with LabCorp, a recognized leader in diagnostic testing innovation, on the development of this groundbreaking companion molecular test,” said Kevin T. Conroy, president and chief executive of Third Wave. “We hope our collaboration with LabCorp is a new model for the development and application of personalized drug therapies. We believe it will demonstrate the impact clinical reference laboratories, diagnostics manufacturers and pharmaceutical companies can have when working together to positively affect patient outcomes and impact health care costs.”
LabCorp in February announced that it had acquired exclusive rights to develop and commercialize a companion diagnostic for bucindolol. Third Wave will collaborate with LabCorp on the development of the diagnostic in parallel with the drug’s approval process. The new test identifies common genetic variations of the alpha-2c and the beta-1 adrenergic receptors that regulate the human heart. A patient’s response to bucindolol is affected by these genetic variations.
Nearly 5 million Americans are living with chronic heart failure and more than 400,000 new cases of heart failure are diagnosed annually in the United States, according to the American Heart Association.
About Third Wave Technologies
Third Wave develops and markets molecular diagnostic reagents for a variety of DNA and RNA analysis applications to meet the needs of our customers. The company offers a number of products based on its Invader(R) chemistry for clinical testing. Third Wave offers in vitro diagnostic kits, and analyte specific, general purpose, and research use only reagents for nucleic acid analysis. For more information about Third Wave and its products, please visit the company’s website at http://www.twt.com/.
All statements in this news release that are not historical are forward-looking statements within the meaning of the Securities Exchange Act of 1934 as amended. Such forward-looking statements are subject to factors that could cause actual results to differ materially for Third Wave from those projected. Those factors include risks and uncertainties relating to the company’s ability to bring new products to market as anticipated, the current regulatory environment in which the company sells its products, the market acceptance of those products, dependence on partners and customers, successful performance under collaborative and commercial agreements, competition, the strength of the Third Wave intellectual property, the intellectual property of others and other risk factors identified in the documents Third Wave has filed, or will file, with the Securities and Exchange Commission. Copies of the Third Wave filings with the SEC may be obtained from the SEC Internet site at www.sec.gov. Third Wave expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Third Wave’s expectations with regard thereto or any change in events, conditions, or circumstances on which any such statements are based. Third Wave Technologies, Invader and the Third Wave logo are trademarks of Third Wave Technologies, Inc.