Nanogen Begins Shipment of Congestive Heart Failure Product
Jul 17, 2007
SAN DIEGO (July 17, 2007) � Nanogen, Inc. (Nasdaq: NGEN), developer of advanced diagnostic products, announced today that it has begun shipment of its congestive heart failure (CHF) product, the StatusFirstTM CHF NT-proBNP rapid test. The product is CE-marked and has been cleared by the FDA for diagnostic use with EDTA plasma samples.
The StatusFirst CHF test measures circulating levels of NT-proBNP, a biomarker for heart disease, and provides a quantitative assessment of the biomarker�s concentration in as little as 15 minutes via a small, low cost reader. The test and reader are designed for use in emergency rooms and hospital laboratories.
"With an aging population and more people surviving myocardial infarctions (MI), the market for cardiac diagnostics related to heart failure is expected to exceed $500 million annually in the next five years," said David Ludvigson, Nanogen president and chief operating officer. "This product was developed by Nanogen and complements the rapid cardiac tests for MI we acquired last year. The StatusFirst CHF product is an important addition as we build our point-of-care rapid testing franchise."
NT-proBNP is a derivative of the hormone brain natriuretic peptide, which is released in response to cardiac stress and has been demonstrated in numerous clinical studies to be an accurate and reliable indicator of cardiac disease risk. The StatusFirst CHF product results correlate with central lab methods that use NT-proBNP immunodiagnostic methods. A version of the product that will use whole blood for the sample is currently under development for the U.S. market, which will improve its marketability for use in emergency departments and other critical care settings.
The StatusFirst CHF product has been developed by Nanogen under license from Roche and is being manufactured for Nanogen by Princeton BioMeditech Corporation (PBM). Distribution in the United States will be handled by PBM�s affiliate LifeSign.
About Nanogen, Inc. Nanogen�s 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, the NanoChip� electronic microarray platform and a line of rapid, point-of-care diagnostic tests. Nanogen�s 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 Nanogen�s 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 Nanogen�s 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.