March 19, 2012 11:44am EDT
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MIAMI--(BUSINESS WIRE)--
OPKO Health, Inc. (NYSE: OPK )
today announced an expansion of the previously announced exclusive
licensing deal with Arctic Partners Ab Oy (Turku, Finland) for two
biomarkers in the kallikrein family which used together with prostate
specific antigen, PSA, can reduce the need for prostate biopsies by over
50%. OPKO exercised a right of first refusal to secure additional
proprietary information, patents, know-how, property and technology
associated with time-resolved fluorescence detection technology, which
is directly applicable to the novel prostate cancer biomarkers. OPKO
will pursue commercialization of the assay panel on platforms for use in
a laboratory setting as well as the point-of-care.
“Kallikrein markers can be assessed on a variety of detection platforms,
and the additional technology gained by executing this secondary
agreement with Arctic will accelerate our path to market,” said Phillip
Frost, M.D., Chairman and CEO of OPKO Health.
About Arctic Partners Ab Oy
Arctic Partners has been involved in licensing and consulting in the
field of in-vitro diagnostics since 1991.
About OPKO Health, Inc.
OPKO is a multi-national biopharmaceutical and diagnostics company that
seeks to establish industry-leading positions in large and rapidly
growing medical markets by leveraging its discovery, development and
commercialization expertise and novel and proprietary technologies.
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 the potential benefits of the
kallikrein biomarkers, the ability of the biomarkers to reduce the need
for biopsies, whether OPKO will be able to commercialize a diagnostic
product utilizing the new biomarkers at all or whether the detection
platform will accelerate commercialization, 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,
and 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.
Steven D. Rubin, 305-575-6015
Source: OPKO Health, Inc.
Released March 19, 2012
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