Visible Genetics Inc. and Roche Diagnostics S.L. Enter
16.04.1999, 17:16
Exclusive Distribution and Marketing Agreement for Vgi Productsin Spain and Portugal TORONTO (PROTEXT) - Visible Genetics Inc. (Nasdaq: VGIN) (VGI)and Roche Diagnostics S.L. (Roche) have entered into an agreementwhereby Roche will be the exclusive distributor in Spain andPortugal of VGI's OpenGene(TM) automated DNA sequencing systemand GeneKits(TM), including HIV-1, Hep C, Hep B, and TBTruGene(TM) assays in the diagnostics market. The agreement isfor a period of three years and has provisions that guaranteeminimum annual revenues over that period to VGI. "This agreement represents an important milestone for VGI andis the first of many in our worldwide strategy of working withthe best healthcare partner in each geographical market.Overnight, we have placed in the field, a talented, high-energyteam of approximately 200 experts selling, marketing andsupporting VGI products. In addition, the Roche team will helpbring VGI's products to early commercialization by working withVGI on the extensive clinical trial program we already have inplace in Europe," comments Dr. Chalom Sayada, Vice PresidentEurope for Visible Genetics. "For example, their involvement inour VIRADAPT, VIGILANCE I, and VIGILANCE II studies will helpfocus the use of genotyping in the reduction of HIV-1 infectionand help improve the management of this terrible disease," Dr.Sayada continued. "We believe this collaboration allows us to offer a completesolution to the physician for the diagnosis and monitoring oftheir infectious disease patients, particularly those patientssuffering with the HIV-1 and hepatitis viruses," says JoachimLanger, General Manager of Roche Diagnostics Spain. "We believethat this complementary product offering will bring added valueto our customers. For example, Roche can now provide doctors withthe immunochemistry tests to detect and confirm the presence ofthe HIV-1 virus; quantitate the amount of virus ("viral load") ina patient's blood via PCR (polymerase chain reaction technology)testing; and then sequence the resistant HIV-1 mutations apatient has in order to better predict the effectiveness of theirantiviral drug therapy," he added. Visible Genetics Inc. manufactures and markets highperformance automated DNA sequencing systems and completediagnostic kits for the analysis of genes linked to disease. TheCompany's OpenGene(TM) system employs proprietary stratified DNAtesting and single-tube, single-step sequencing methods tosignificantly reduce the time and cost involved in identifyingclinically relevant genetic information. VGI is a leader in theemerging field of pharmacogenomics that uses genetic informationto identify, analyze and treat medical conditions for the benefitof improving patient care and reducing healthcare costs. Roche, headquartered in Basel, Switzerland, is a world leaderin research- based healthcare, with principal business inpharmaceuticals, diagnostics, vitamins, and fragrances andflavours. The Roche Group owns three manufacturing plants inSpain; one for pharmaceutical products in Leganes (Madrid),another for vitamins in San Fernando de Henares (Madrid), and athird one in fragrances and flavours in Sant Celoni. In Spain,there are approximately 2,000 employees, and the total invoicingin 1998 amounted to 80,000 million Pesetas. ots Original TextService: Visible Genetics, Inc Internet:http://www.newsaktuell.de Contact: Bruno Maruzzo, of VisibleGenetics Inc., 416-813-3271; David Sassoon of Rowland-WangHealthcare, 212-527-7453; Antonio Ferrer, of Roche DiagnosticsSpain, +34-933067100, Roanne Argyle, 416-968-7311, of ArgyleRowland Worldwide Web site: http://www.visgen.com
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