WaferGen Announces NIH Grant to University of Pittsburgh Includes Funding of $350,000 for SmartChip(TM) Real-Time PCR System
FREMONT, Calif., Feb. 1 /PRNewswire-FirstCall/ -- WaferGen Biosystems, Inc. (OTC Bulletin Board: WGBS), a leading developer of state-of-the-art genetic analysis systems, today announced that the National Institutes of Health (NIH) awarded a grant to the University of Pittsburgh that includes funding of $350,000 over the grant period for WaferGen's SmartChip™ Real-Time PCR System. The researchers will conduct novel gene expression research in the areas of advanced lung disease and asthma and will use the SmartChip system as the key platform for high throughput validation.
Part of the American Recovery and Reinvestment Act (ARRA), the $3.5 million grant awarded the University of Pittsburgh is part of two grants totaling $12 million to several institutions that also include Harvard, Boston University, National Jewish Hospital, and Wake Forest. In one project, the researchers plan to create a genetic, molecular, and quantitative clinical phenotyping data warehouse with bioinformatic tools that will empower investigators to make fundamental discoveries in disease pathogenesis, refine diagnostic criteria, and lead to real gains in personalized medicine to address chronic lung disease. In a second project, they will study the underlying genomics of asthma to determine why some individuals develop disease that is more severe and difficult to treat. The findings are intended to facilitate the development of new therapies especially targeted for severe asthmatics.
"Through these projects, we hope to enable the development of personalized therapies by allowing clinicians to identify individuals at risk of developing chronic lung diseases, diagnosing these conditions at an earlier stage, and identifying novel mechanisms that cause the diseases. We will use WaferGen's SmartChip Real-Time PCR system to discover and validate new biomarkers as part of these personalized medicine projects," said Steven D. Shapiro, MD, Jack D. Myers Professor and Chairman, Department of Medicine, University of Pittsburgh, Associate Medical and Research Director ICSD, UPMC.
In both projects, WaferGen's SmartChip technology will be used by investigators from the University of Pittsburgh as the key platform for high throughput PCR validation. In October 2008, the NIH also awarded the University of Pittsburgh approximately $3 million to conduct novel gene expression research in the area of lung disease also involving WaferGen's SmartChip Real-Time PCR System.
"This additional funding from the NIH to the University of Pittsburgh and their use of the SmartChip Real-Time PCR System in novel gene expression research projects is particularly encouraging because it shows continued interest in exploring the benefits of our SmartChip platform to advance personalized medicine," said Alnoor Shivji, chairman and CEO, WaferGen.
About WaferGen
WaferGen Biosystems, Inc. is a leader in the development, manufacture and sale of state-of-the-art systems for gene expression and genotyping for the life science and pharmaceutical industries. The company is actively developing its SmartChip product for biomarker discovery and validation. SmartChip is being developed as the first whole genome, high throughput gene expression real-time polymerase chain reaction (PCR) platform and promises to deliver significant speed and cost advantages to researchers in the gene expression and genotyping markets. For additional information, please see http://www.wafergen.com.
Forward-Looking Statements
This press release contains certain "forward-looking statements". Such statements include statements relating to the expected use of WaferGen's SmartChip Real-Time PCR system by researchers in the grant study and the expected benefits thereof, and other statements relating to future events or to the company's future financial performance and are not historical facts, including statements which may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words.
Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the control of the company. Actual results may differ materially from the expectations contained in the forward-looking statements. Factors that may cause such differences include the risks that: (i) the company may be unsuccessful in commercially developing its products or in achieving market acceptance of new and relatively unproven technologies; (ii) the company will need to raise additional capital to meet its business requirements in the future and the company may not be able to do so on reasonable terms or at all; (iii) the company's proprietary intellectual property rights may not adequately protect its products and technologies; and (iv) the company expects intense competition in its target markets, including from companies that have much greater resources than the company, and there can be no assurance that the company will be able to compete effectively. More detailed information about the company and the risk factors that may affect the realization of forward-looking statements is set forth in the company's filings with the Securities and Exchange Commission, including the company's Annual Report on Form 10-K for the year ended December 31, 2008 and the company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2009. Investors and security holders are urged to read this document free of charge on the SEC's web site at www.sec.gov. The company does not undertake to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.
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WaferGen |
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Mona Chadha |
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510-651-4450 |
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SOURCE WaferGen Biosystems, Inc.
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