OPKO Health to Collaborate with Bristol-Myers Squibb on Blood Test for Alzheimer's Disease
MIAMI--(BUSINESS WIRE)-- OPKO Health, Inc. (NYSE Amex:OPK) today announced that it has entered into a collaboration agreement with Bristol-Myers Squibb Company (NYSE:BMY) relating to OPKO's new 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. As part of the project, OPKO and Bristol-Myers Squibb will investigate the utility of OPKO's novel technology for diagnosis of Alzheimer's disease and for identifying individuals with early stage cognitive impairment that are likely to progress to Alzheimer's disease.
Phillip Frost, M.D., Chairman and Chief Executive Officer of OPKO, stated, "We are pleased to work with Bristol-Myers Squibb to generate additional validation data that may expedite the approval and marketing of our simple blood test for Alzheimer's disease and cognitive disorders that may precede it. As new and better forms of therapy for Alzheimer's disease become available, particularly those that can slow its progression, early and definitive diagnosis will be of critical importance."
About OPKO Health, Inc.
Miami-based OPKO is a specialty healthcare company involved in the discovery, development, and commercialization of proprietary pharmaceutical products, medical devices, vaccines, diagnostic technologies and imaging systems. Initially focused on the treatment and management of ophthalmic diseases, OPKO has since expanded into other areas of major unmet medical need. For more information, visit www.opko.com.
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 a diagnostic test for Alzheimer's and other diseases, our ability to develop tests to identify biomarkers for any disease to which the immune system reacts, 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. These factors include, that initial testing may not be indicative of future success and we will be unable to successfully develop or commercialize a diagnostic test for Alzheimer's disease or other diseases such as other neurodegenerative disorders and various malignancies, that the diagnostic test may fail and not be successful in identifying biomarkers or antibodies unique to Alzheimer's Disease or other diseases or achieve the expected results or effectiveness, and may not generate data that would support the approval or marketing of this or other diagnostic products, that others may develop products, including other early stage diagnostic products which are superior to the test we are developing, and that the diagnostic test if developed may not have advantages over other marketed products. 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.
Source: OPKO Health, Inc.
Released January 10, 2011