SOMALOGIC ANNOUNCES COLLABORATION WITH QUEST DIAGNOSTICS
TO DEVELOP CLINICAL DIAGNOSTIC APPLICATIONS
USING APTAMER TECHNOLOGY
(BOULDER, CO) SomaLogic, Inc., a leading clinical proteomics company,
today announced that it had entered a technology development agreement
with Quest Diagnostics Incorporated (NYSE: DGX), the leading provider
of diagnostic testing, information and services in the U.S. Under the
terms of the agreement, Quest Diagnostics will develop new diagnostic
tests based on SomaLogic’s proprietary aptamer array platform.
In addition, Quest Diagnostics has made a $15 million equity investment
in SomaLogic. Additional terms of the agreements and timetables for
test development were not disclosed.
SomaLogic is using its proprietary aptamer array technology to discover
new biomarkers and patterns of biomarkers (or disease signatures) for
a range of unmet needs in the area of clinical diagnostics. SomaLogic
currently has active development programs in the areas of oncology,
as well as cardiovascular, autoimmune, and infectious diseases. Quest
Diagnostics will develop clinical diagnostic tests based on these biomarkers
and disease signatures.
“As the undisputed leader in diagnostic testing, Quest Diagnostics
represents an ideal partner for SomaLogic,” said Larry Gold, Ph.D.,
Chairman and CEO of SomaLogic. “Their relationships with doctors,
patients and payers across the country will ensure that future diagnostics
based on our proprietary technology will reach the broadest possible
audience.”
“It is very exciting to be able to participate in the early stage
development of diagnostic tests based on SomaLogic’s aptamer technology,”
said Joyce G. Schwartz, M.D., Vice President and Chief Laboratory Officer
of Quest Diagnostics. “We are excited about the future potential
of clinical proteomics to improve patients’ health.”
Contact:
SomaLogic
Beth Perez
pr-ir@somalogic.com
About SomaLogic
SomaLogic is developing proteomics systems and applications based on its
proprietary aptamer technology. The company's aptamer arrays will allow
researchers--and ultimately clinicians--to measure large numbers of proteins
simultaneously, providing the foundation for new insights into disease
and health. SomaLogic is headquartered in Boulder, Colorado. Further information
about the company can be found at http://www.somalogic.com.
About Quest Diagnostics
Quest Diagnostics is the leading provider of diagnostic testing, information
and services that patients and doctors need to make better healthcare
decisions. The company offers the broadest access to diagnostic testing
services through its national network of laboratories and patient service
centers, and provides interpretive consultation through its extensive
medical and scientific staff. Quest Diagnostics is a pioneer in developing
innovative new diagnostic tests and advanced healthcare information
technology solutions that help improve patient care. Additional company
information is available at: http://www.questdiagnostics.com.
Except for the historical information contained herein, this news release contains
forward-looking statements that involve risks and uncertainties. Such forward-looking
statements include SomaLogic's prospects for favorable growth and performance. The statements
made by SomaLogic, Inc. are based on management's present expectations and actual results may
differ from the results indicated or otherwise implied by such forward-looking statements due
to certain risks and uncertainties including, but not limited to, our ability to secure funding
to execute our business plan, our ability to gain market share by establishing the effectiveness
of our products, the intense competition in research proteomics and commercial diagnostics, and
general industry or business trends or events. These risk factors may not be an all-inclusive
enumeration of the business risks faced by SomaLogic, Inc. These statements made by the management
of SomaLogic, Inc. and summarized above represent their views as of the date of this press release,
and it should not be assumed that the statements made herein remain accurate as of any future date.
SomaLogic, Inc. does not presently intend to update these statements and undertakes no duty to any
person to effect any such update under any circumstances.
