UPPSALA, Sweden, March 14, 2002 (PRIMEZONE) -- Pyrosequencing AB (Stockholm: PYRO A) today announced the worldwide launch of the PSQ(tm)96MA System -- the new multi-application sequence analysis system for Applied Genomics using proven Pyrosequencing(tm) technology. The PSQ 96MA System provides customers with significant new capabilities, building upon the popular and widely used PSQ(tm)96 System.
The enhanced capabilities of the PSQ 96MA System include straightforward sequencing of cloned DNA material. New automatic multiplex genotyping of polymorphisms such as point mutations, insertion/deletions (InDels) and single nucleotide polymorphisms (SNPs) reduces the cost per accurate result and increases sample throughput. Multiple SNPs from a short stretch of DNA and tri- and tetra allelic polymorphisms can also be analyzed. The launch of the new system also includes the introduction of a new XML-based data exchange format and Oracle databases to ensure data security and stability.
"The introduction of the PSQ 96MA System to the market is a major step forward for Pyrosequencing," stated Erik Wallden, CEO and President of Pyrosequencing AB. "We are advancing our market leading position by developing Pyrosequencing technology to expand its capabilities, bringing greater benefits to our customers. The new system is a result of a proactive research and development program which builds in valuable customer feedback, and is the cornerstone of Pyrosequencing's market success," he commented.
150 PSQ 96 Systems are currently being used by customers in laboratories worldwide and will continue to be supported by Pyrosequencing. An upgrade package for existing PSQ 96 System customers who wish to benefit from the new functionality of the PSQ 96MA System is available. Pyrosequencing also offers a customizable high-throughput, 384-well genotyping solution, currently available through an early access, Preferred Technology Program (PTP(tm)). The Company expects to further expand its product portfolio this year with additional innovative software and system solutions.
About Pyrosequencing AB
Pyrosequencing AB develops, manufactures and sells complete solutions for rapid applied genetic analysis based on its proprietary Pyrosequencing(tm) technology, a simple-to-use DNA sequencing technique. Pyrosequencing leads the global market in Applied Genomics with over 150 systems sold to major pharmaceutical and biotech companies and prestigious research institutions worldwide.
Pyrosequencing(tm) technology is broadly applicable for the analysis of single nucleotide polymorphisms (SNPs) and for the identification and quantification of short DNA sequences used in bacterial and viral typing. The Company's Molecular Diagnostics Business is establishing collaborations with industry leaders to identify new product opportunities in disease diagnosis, clinical prognosis and pharmacogenomics.
The Company's products include the bench-top PSQ(tm)96 and PSQ(tm)96MA Systems, and a high-throughput PTP(tm) System that utilize proprietary software and reagent kits. Among Pyrosequencing's customers are AstraZeneca, GlaxoSmithKline, Merck, Schering-Plough, the NIH, the Harvard Center for Cancer Prevention, Yale University, the Karolinska Institute, Biogen, Oxagen, Ltd., NASA and DuPont Agriculture. The Company's Web address is www.pyrosequencing.com.
Certain statements in this press release are forward-looking. These may be identified by the use of forward-looking words or phrases such as "believe," "expect" and "anticipate," among others. These forward- looking statements are based on Pyrosequencing's current expectations. The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for such forward-looking statements. In order to comply with the terms of the safe harbor, Pyrosequencing notes that a variety of factors could cause actual results and experience to differ materially from the anticipated results or other expectations expressed in such forward-looking statements. Such uncertainties and risks include, but are not limited to, risks associated with management of growth and international operations (including the effects of currency fluctuations), variability of operating results, the commercial development of the DNA sequencing and genomics market, nucleic acid-based molecular diagnostics market, and genetic vaccination and gene therapy markets, competition, rapid or unexpected changes in technologies, fluctuations in demand for Pyrosequencing's products (including seasonal fluctuations), difficulties in successfully adapting the Company's products to integrated solutions and producing such products, and the Company's ability to identify and develop new products and to differentiate its products from competitors.
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