Illumina, Inc. (ticker: ILMN, exchange: NASDAQ Global Select Market (.O))
News Release -
Illumina Receives $1.2 Million Grant from the National Institutes of Health to Continue Research on Bead-Based Proteomic Arrays
SAN DIEGO, CALIFORNIA, August 11, 2004 -- Illumina, Inc. announced today that it has been awarded a $1.2 million Phase 2 SBIR grant from the National Institute of Allergy and Infectious Diseases, part of the National Institutes of Health (NIH), for continued development of high-multiplex, low-cost arrays to profile protein activity in small volumes of cells or biological fluids.
Identification of protein profiles will be highly valuable in a broad range of markets including research, clinical trials, and diagnostics. By profiling and understanding protein activity, pharmaceutical and biotech firms can identify more targeted drug compounds and discover relevant biomarkers for use in diagnostic products. High-complexity protein arrays could be used to help unravel the molecular basis of disease and certain genetic disorders.
According to Jay Flatley, Illumina President and CEO, "We're very pleased that NIH recognizes the value of our BeadArray-based approach for proteomics and has elected to fund additional research. If successful, this research may lead to development of a third application area to complement the success of Illumina technology in high throughput SNP genotyping and gene expression."
Illumina (www.illumina.com) is developing next-generation tools for the large-scale analysis of genetic variation and function. The Company's proprietary BeadArray technology -- now used in leading genomics centers around the world -- provides the throughput, cost effectiveness and flexibility necessary to enable researchers in the life sciences and pharmaceutical industries to perform the billions of tests necessary to extract medically valuable information from advances in genomics and proteomics. This information will help pave the way to personalized medicine by correlating genetic variation and gene function with particular disease states, enhancing drug discovery, allowing diseases to be detected earlier and more specifically, and permitting better choices of drugs for individual patients.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: this release may contain forward-looking statements that involve risks and uncertainties. Among the important factors that could cause actual results to differ materially from those in any forward-looking statements are the costs and outcome of Illumina's litigation with Applied Biosystems and Affymetrix, market acceptance of Illumina's BeadArray-based products, Illumina's ability to fully develop and commercialize its BeadArray technologies, , the Company's ability to successfully commercialize its integrated BeadLab and BeadStation systems for high-throughput genetic analysis, to continue to attract and retain customers in its services and oligonucleotide synthesis operations, to fully develop its BeadArray technologies, to develop and deploy new gene expression profiling and proteomics applications for its platform technology, to manufacture robust Sentrix® arrays and Oligator® oligonucleotides, and other factors detailed in the Company's filings with the Securities and Exchange Commission including its recent filings on Forms 10-K and 10-Q or in information disclosed in public conference calls, the date and time of which are released beforehand. Illumina disclaims any intent or obligation to update these forward-looking statements beyond the date of this release.