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| PamGene grants further rights to OLYMPUS, maintaining focus on its 96-Array System | | | ’s-Hertogenbosch (The Netherlands), May 7, 2003. Dutch biotechnology company PamGene International B.V. announced today that they granted further rights to market their flow-through microarray technology to Olympus Optical Co. Ltd. Olympus now gained a non-exclusive worldwide right to sell into pharmaceutical and biotech R&D, diagnostics and diagnostic testing. Olympus now has paid some 6 Million Euro for acquiring access to PamGene’s technology. PamGene will focus on the launch of its fully automatic 96-array system for high throughput applications and the development of biomarkers. Olympus will focus on low- to medium throughput applications with its FD10 4-array system.
Tim Kievits, CEO of PamGene: "This arrangement and the previously announced spin-off of Check-Points, is a clear indication of focus within PamGene. We will direct most of our efforts on introducing our fully automatic 96-array system in the drug development process. Related to this, we enhanced our efforts in developing PamChip® Arrays with predictive, validated biomarkers relevant in this field, e.g. to perform TOX/ADME screening as early as possible in the process, to reduce attrition rate in the development of new drugs."
Mr. Yanagisawa, Director of Olympus" Genomic Medical Business Division: "Gaining these extended rights clearly and successfully segments the markets where PamGene and Olympus jointly operate. This gives Olympus the opportunity to go full steam with the targeted introduction of the FD10 in Europe and the USA in July this year, in addition to the Japanese market last year. Olympus has invested considerably in PamGene’s technology these last years, not only financially. I am very happy to see that the faith and trust both companies have in the technology and in each other as partners resulted not only in an intense relationship but also in introduction of a great product: The FD10. The FD10 utilises all benefits of PamChip® Arrays and the 5D-Pulse™ Technology."
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