OPKO Health Expands Collaboration with Bristol-Myers Squibb
OPKO Health, Inc. (NYSE:OPK) announced that it has expanded its
collaboration with Bristol-Myers Squibb Company (NYSE:BMY) relating to
OPKO's diagnostic test technology. OPKO's simple blood tests are being
developed, based on its proprietary platform technology, to identify
biomarkers for a wide variety of diseases, including neurodegenerative
disorders and various malignancies.
In December 2010, OPKO and Bristol-Myers Squibb entered into a
multi-year collaboration agreement to investigate the utility of OPKO's
novel technology for the diagnosis of Alzheimer's disease and for
identifying individuals with early stage cognitive impairment that are
likely to progress to Alzheimer's disease.
Under the expanded collaboration, work will continue on the Alzheimer's
project and additional investigations will use OPKO's technology in an
attempt to identify biomarkers that are predictive of drug response(s)
in several therapeutic areas.
Phillip Frost, M.D., Chairman and Chief Executive Officer of OPKO,
stated, "We are pleased to expand our relationship and look forward to
utilizing our novel diagnostic technology to help Bristol-Myers Squibb
identify novel biomarkers predictive of drug response."
About OPKO Health, Inc.
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.
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," "could," "intends," "estimates," and other words
of similar meaning, including statements regarding our product
development efforts, including our ability to develop and commercialize
diagnostic tests for Alzheimer's and other diseases and malignancies,
our ability to utilize our technology to identify biomarkers that are
predictive of drug responses, and our ability to perform and complete
clinical studies required for regulatory approval, 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, including those described in our
filings with the Securities and Exchange Commission, could cause our
actual activities or results to differ materially from the activities
and results anticipated in forward-looking statements. In addition,
forward-looking statements may also be adversely affected by risks
inherent in funding, developing and obtaining regulatory approvals of
new, commercially-viable and competitive products and treatments,
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 or Juan F. Rodriguez, 305-575-4100
Source: OPKO Health, Inc.
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