January 13, 2015 11:49am EST
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MIAMI & MEMPHIS, Tenn.--(BUSINESS WIRE)--
OPKO Health, Inc. (NYSE:OPK) and Immuno Technologies, Inc. today
announced that the National Institutes of Health (NIH) has awarded a $3
million grant to develop a rapid diagnostic test for Lyme disease. The
Phase II Small Business Innovation Research (SBIR) grant was issued to
Immuno Technologies working in collaboration with OPKO Diagnostics, LLC
and Columbia University in the City of New York. The goal of the grant
is to develop a rapid diagnostic test based upon novel antigens that
increase the specificity and sensitivity of the current laboratory
assays and improve discrimination between early and late stage disease
using OPKO’s Claros®1 in office analyzer. Combinations of these antigens
have already been successfully demonstrated on OPKO’s microfluidic
cassettes for the detection of Lyme disease using challenge panels from
patients.
“Prompt diagnosis and treatment is critical to prevent disease
progression, but current laboratory testing is difficult to interpret
and time-consuming,” said Maria Gomes-Solecki, President and CEO of
Immuno Technologies, Inc. “The Claros 1 system can provide rapid,
quantitative, multiplexed results, and coupled with well-selected
antigens, can greatly improve diagnosis and management of Lyme disease.”
“Our lab is pleased to participate in this collaboration to develop a
point-of-care test for such a clinically important disease,” said Samuel
Sia, Associate Professor of Biomedical Engineering at Columbia
University.
Lyme disease is a progressive disease with a wide array of largely
non-specific clinical manifestations gradually developing from early to
late stage. Moreover, Lyme disease is the most common tick-borne disease
in North America and Europe and is one of the fastest-growing infectious
diseases in the United States. According to recent estimates from the
Centers for Disease Control, about 300,000 cases of Lyme disease occur
in the United States each year.
“We look forward to development and commercialization of this
breakthrough test that will address a large and growing global health
challenge,” said David Okrongly, President of OPKO Diagnostics. “A rapid
and more accurate in-office diagnostic for Lyme disease would be a game
changer and help insure prompt and effective treatment for patients.”
About OPKO Health
OPKO is a multinational biopharmaceutical and diagnostics company that
seeks to establish industry-leading positions in large, rapidly growing
markets by leveraging its discovery, development and commercialization
expertise and novel and proprietary technologies. For more information,
visit www.opko.com .
About Immuno Technologies
Immuno Technologies, Inc. focuses on translational research for
infectious diseases. It does research and development of diagnostics and
immuno preventive (vaccines) compounds. As products evolve from the
laboratory to the next (early) stage of development its long term goal
is to design prototypes and spin off these technologies to new ventures
and seek strategic alliances. The company’s main area of interest is
Lyme disease. For more information visit www.immunotechnologies.com .
About Columbia University
Among the world’s leading research universities, Columbia University in
the City of New York continuously seeks to advance the frontiers of
scholarship and foster a campus community deeply engaged in the complex
issues of our time through teaching, research, patient care and public
service. For more information visit www.columbia.edu .
SAFE HARBOR STATEMENT
This press release contains "forward-looking statements," as that
term is defined under the Private Securities Litigation Reform Act of
1995 (PSLRA), which statements may be identified by words such as
"expects," "plans," "projects," "will," "may," "anticipates,"
"believes," "should," "intends," "estimates," and other words of similar
meaning, including statements regarding expected benefits of the
diagnostic test for Lyme Disease using the OPKO Claros 1 system, that
the test will increase the specificity and sensitivity of the current
laboratory assays and improve discrimination between early and late
stage disease, that the Claros 1 system will provide rapid,
quantitative, multiplexed results, and whether the test can greatly
improve diagnosis and management of Lyme disease and insure prompt and
effective treatment in patients, whether the parties will ever
successfully develop or commercialize this breakthrough test and whether
it will address a large and growing global health challenge, the market
for and expected sales of the test, as well as other non-historical
statements about our expectations, beliefs or intentions regarding our
business, technologies and products, financial condition, strategies or
prospects. Many factors could cause our actual activities or results to
differ materially from the activities and results anticipated in
forward-looking statements. These factors include those described in our
filings with the Securities and Exchange Commission, as well as the
risks inherent in funding, developing and obtaining regulatory approvals
of new, commercially-viable and competitive products and treatments. In
addition, forward-looking statements may also be adversely affected by
general market factors, competitive product development, product
availability, federal and state regulations and legislation, the
regulatory process for new products and indications, manufacturing
issues that may arise, patent positions and litigation, among other
factors. The forward-looking statements contained in this press release
speak only as of the date the statements were made, and we do not
undertake any obligation to update forward-looking statements. We intend
that all forward-looking statements be subject to the safe-harbor
provisions of the PSLRA.
OPKO Health, Inc.
David Okrongly, 305-575-4133
Source: OPKO Health, Inc.
Released January 13, 2015
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