Quidel Corporation (ticker: QDEL, exchange: NASDAQ Global Market (.O))
News Release -
20-May-2008
Quidel and Prodesse Announce Flu and RSV Molecular Partnership SAN DIEGO--(BUSINESS WIRE)--May 20, 2008--Quidel Corporation
(NASDAQ:QDEL), a leading provider of rapid point-of-care (POC)
diagnostic tests, and Prodesse, Inc., a biotechnology company focused
on developing molecular diagnostic reagents for a variety of
infectious diseases, announced today an agreement between the two
companies to jointly promote Prodesse's ProFlu+(TM) multiplex
molecular diagnostic test within the United States. ProFlu+ is an FDA
510(k) cleared, real-time PCR, closed tube test that simultaneously
detects Influenza A, Influenza B and respiratory syncytial virus
(RSV), which together cause the vast majority of serious respiratory
infections.
The agreement strengthens Prodesse's own sales efforts with acute
care representation by the Quidel sales and marketing teams. Caren
Mason, president and CEO of Quidel, commented, "Our acute care
customers look for leadership from Quidel in influenza management. By
co-promoting this product, we are providing an alternative solution to
those seeking a molecular complement to their rapid testing program."
Tom Shannon, president and CEO of Prodesse, remarked, "Our partnership
with Quidel will aid us in expanding our reach to the thousands of
hospitals that utilize the many instruments that are capable of
running ProFlu+."
Quidel will now have access to a new molecular product,
particularly suited for the acute care laboratory market. The ProFlu+
test provides a complementary product offering to the Quidel
QuickVue(R) rapid influenza and RSV tests. As part of the agreement,
Quidel earns a fee for all product placements.
According to the Centers for Disease Control (CDC), influenza is
responsible for about 36,000 deaths and more than 200,000
hospitalizations in the U.S. each year(1). The National Foundation of
Infectious Diseases, in a report released in September 2007, indicates
that influenza can be especially severe for those with high-risk
conditions (e.g., diabetes and heart disease), and recent studies have
also found that the illness may trigger up to 92,000 cardiac deaths
per year nationwide(2). The QuickVue Influenza A+B test is intended
for use as an aid in the rapid differential diagnosis of acute
influenza type A and B.
Respiratory syncytial virus is recognized by the American Academy
of Pediatrics as the leading cause of pneumonia and bronchiolitis
among children two years of age and younger. RSV is a common virus
with symptoms that often resemble the common cold(3). The QuickVue RSV
test is intended for use as an aid in the diagnosis of acute RSV viral
infections for symptomatic pediatric patients.
(1) CDC, Page last updated November 16, 2007; Content Source:
Coordinating Center for Infectious Diseases (CCID) National Center for
Immunization and Respiratory Diseases (NCIRD).
(2) National Foundation for Infectious Diseases, September 20,
2007.
(3) Respiratory Syncytial Virus (RSV). American Academy of
Pediatrics, et al.,
http://www.aap.org/pubed/ZZZSO05MASD.htm?&sub_cat=107 (accessed
1/16/2006).
About Quidel Corporation
Quidel Corporation serves to enhance the health and well being of
people around the globe through the discovery, development,
manufacturing and marketing of rapid diagnostic solutions at the point
of care (POC) in infectious diseases and reproductive health. Marketed
under the leading brand name of QuickVue(R), Quidel's portfolio of
products currently includes tests that aid in the diagnosis of several
disease or condition states, including influenza, respiratory
syncytial virus, Fecal Occult Blood, Strep A, pregnancy, bacterial
vaginosis, H. pylori and Chlamydia. Quidel's products are sold to
healthcare professionals with a focus on the physician office lab and
acute care markets through leading medical distribution partners on a
worldwide basis. Quidel's Specialty Products Group (SPG) develops
research products in the fields of oncology and bone health with
potential future point-of-care applications. By building value in
rapid diagnostic tests, Quidel provides leadership to the industry and
among healthcare professionals allowing for the movement of patient
testing out of the central laboratory setting and into the physician
office, urgent care and other outpatient settings where rapid testing
and treatment has an impact on clinical outcomes and provides an
economic benefit. For more information, visit www.quidel.com,
www.colorectal-test.com or www.flutest.com.
About Prodesse, Inc.
Prodesse is a biotechnology company focused on developing
molecular diagnostic reagents for a variety of infectious disease
applications. The company's products are designed based on a
combination of Prodesse's patented technologies and other licensed
technologies. Prodesse sells FDA 510(k) cleared products worldwide, CE
Marked in vitro diagnostic kits outside the U.S. and research use only
kits worldwide. The company's products can be used on multiple nucleic
acid extraction and real-time PCR platforms. Prodesse also operates a
CLIA certified laboratory for testing services in the Midwest area.
For more information about Prodesse and its products, call
888-589-6974 or go to www.prodesse.com.
This press release contains forward-looking statements within the
meaning of the federal securities laws that involve material risks,
assumptions and uncertainties. Many possible events or factors could
affect our future financial results and performance, such that our
actual results and performance may differ materially. As such, no
forward-looking statement can be guaranteed. Differences in actual
results and performance may arise as a result of a number of factors
including, without limitation, seasonality, the length and severity of
cold and flu seasons, uncertainty surrounding the detection of novel
influenza viruses involving human specimens, adverse changes in the
competitive and economic conditions in domestic and international
markets, actions of our major distributors, technological changes and
uncertainty with research and technology development, including any
future molecular-based technology, the reimbursement system currently
in place and future changes to that system, manufacturing and
production delays or difficulties, adverse actions or delays in
product reviews by the U.S. Food and Drug Administration (the "FDA"),
intellectual property, product liability, environmental or other
litigation, required patent license fee payments not currently
reflected in our costs, potential inadequacy of booked reserves and
possible impairment of goodwill, and lower than anticipated sales or
market penetration of our new products. Forward-looking statements
typically are identified by the use of terms such as "may," "will,"
"should," "might," "expect," "anticipate," "estimate," and similar
words, although some forward-looking statements are expressed
differently. The risks described under "Risk Factors" in reports and
registration statements that we file with the SEC from time to time
should be carefully considered. You are cautioned not to place undue
reliance on these forward-looking statements, which reflect
management's analysis only as of the date of this press release. We
undertake no obligation to publicly release the results of any
revision or update of the forward-looking statements.
CONTACT: Quidel Corporation
John Radak, Chief Financial Officer
858-646-8032
or
Porter Novelli Life Sciences
Shirley Chow
212-601-8308
SOURCE: Quidel Corporation
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