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TGen and IGC announce launch of the Molecular Profiling Institute
Specialty reference lab makes available genomic technologies to patients with cancer
Phoenix, AZ, December 8, 2004 - The Translational Genomics Research Institute (TGen) and the International Genomics Consortium (IGC) have formed the Molecular Profiling Institute, Inc. Molecular Profiling is a specialty reference laboratory that utilizes discoveries from the Human Genome Project to analyze cancers from individual patients.
"By identifying the individual molecular profile of a person's cancer, Molecular Profiling helps oncologists and pathologists to provide better customized therapeutic options for their patients," said Robert J. Penny M.D., Ph.D., Chief Executive Officer and President of Molecular Profiling.
Molecular Profiling successfully completed its initial investment round by obtaining seed capitalization of $1.35 million.
Molecular Profiling's first molecular profile program is called Target Now™. Launched in September 2003, the program is now available to cancer patients for whom all standard therapies have failed. These patients can have their cancer sampled, profiled, and assessed to determine if one or more drug targets can be identified in their tumor tissue. Utilizing proteomic and genomic technologies, Molecular Profiling provides oncologists and pathologists with information they can use to determine therapeutic options for their patients - options that may not have been considered without information provided by the Target Now™ analysis.
Molecular Profiling derives many of its strengths through developing strategic partnerships. The formation of Molecular Profiling will assist TGen and the IGC in their mission to translate genomic discoveries into enhanced patient care.
"The launch of Molecular Profiling is consistent with TGen's mission to do excellent science, find ways to move discoveries into the practice of medicine and to spawn the formation of for-profit companies," said Richard Love, TGen's Chief Operating Officer.
Molecular Profiling was started in collaboration with Scottsdale Healthcare in laboratories at the Virginia G. Piper Cancer Center in Scottsdale.
The institute has also recently formed a strategic partnership with AmeriPath. AmeriPath is one of the leading anatomic pathology laboratory companies in the United States. It offers a broad range of testing and information services used by physicians in the detection, diagnosis, evaluation and treatment of cancer and other diseases and medical conditions.
Through this partnership, AmeriPath's pathologist network, which serves approximately 3.5 million patients, has access to the molecular profiling provided by Molecular Profiling. AmeriPath will use Molecular Profiling for its advanced esoteric reference lab and provide assistance with co-marketing and sales.
Molecular Profiling has entered into an initial licensing agreement with Netherlands-based Agendia where Molecular Profiling is the sole source provider in the United States of MammaPrint®, a microarray assay used to provide important prognostic information for individuals with early invasive breast cancer. The test will be available in January 2005 to breast cancer patients nationwide.
This test was developed by Agendia BV and its performance characteristics determined by Agendia BV and the Molecular Profiling Institute, Inc. It has not been cleared or approved by the U.S. Food and Drug Administration (FDA). Molecular Profiling is certified and Agendia BV is registered under the Clinical Laboratory Improvement Amendments of 1988 (CLIA) as qualified to perform high-complexity clinical testing. The FDA is evaluating the registration status of this test.
This test is believed to be a useful adjunct in evaluating the prognosis for patients with cancer. Decisions regarding care and treatment should not be based on a single test such as this test. Rather decisions on care and treatment should be based on the independent medical judgment of the treating physician taking into consideration all available information concerning the patient's condition, including other pathological tests, in accordance with the standard of care in a given community.
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About TGen
The mission of the Translational Genomics Research Institute (TGen) is to make and translate genomic discoveries into advances in human health. Translational genomics research is a relatively new field employing innovative advances arising from the Human Genome Project and applying them to the development of diagnostics, prognostics and therapies for cancer, neurological disorders, diabetes and other complex diseases. TGen is focused on personalized medicine and plans to accomplish its goals through robust and diseased-focused research programs and its state-of-the-art bioinformatics and computational biology facilities.
About IGC
The International Genomics Consortium (IGC) is a non-profit medical research foundation established to expand upon the discoveries of the Human Genome Project and other systematic sequencing efforts by combining world-class genomic research, bioinformatics, and diagnostic technologies in the fight against cancer and other complex genetic diseases. IGC serves numerous common, unmet needs including: the standardization of the collection of properly consented tissues of interest, the molecular characterization of these tissues, and standardization in the representation of these results. IGC facilitates the transition of genomic discoveries to improve patient care and increase the speed in which new diagnostic, prognostic and predictive testing, and new drug and treatment regimens are developed.
About AmeriPath
AmeriPath is one of the leading anatomic pathology laboratory companies in the United States. AmeriPath offers a broad range of testing and information services used by physicians in the detection, diagnosis, evaluation and treatment of cancer and other diseases and medical conditions. The company's extensive diagnostics infrastructure includes over 400 pathologists and doctorate-level scientists providing services in over 20 states utilizing 40 independent pathology laboratories, more than 200 hospitals, and their Centers of Excellence.
Media Contact:
Galen Perry at (602) 377-4734 mobile (602) 343-8423 voice
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