Affymetrix (NASDAQ:AFFX)
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Affymetrix Inc. (NASDAQ:AFFX) announced today that it
plans to introduce a 1 million-SNP product by the first quarter of
2007 and that the U.S. list price of its current two-chip 500K SNP
genotyping set will be reduced to $250, effective immediately.
Additionally, the 500K set will be offered as a single array by the
end of the year, increasing throughput and enabling scientists to
devote their resources toward performing larger experiments.
These advances in array technology stem from an ongoing
collaboration between Affymetrix and scientists at the Broad Institute
of MIT and Harvard and other researchers to refine genotyping
algorithms. These improved algorithms allow researchers to extract
more information from each array without any manufacturing or assay
changes.
"We have been delighted to work with our colleagues at Affymetrix
to help their technology reach even greater utility for the entire
scientific community," said David Altshuler, M.D., Ph.D., director,
The Broad Institute's Program in Medical and Population Genetics.
"These new tools will enable us to perform more studies than we could
have before. We should be able to quickly add to the pool of
genotyping data we all need to understand the genetic contributions to
many human diseases."
The reduced price of the Affymetrix 500K array will enable
scientists to run more samples, and thereby increase the power of
their genetic association studies. For example, thousands of samples
are needed to find genes with subtle effects in complex diseases like
diabetes.
"It is a tribute to the innovation and drive of the scientists at
Affymetrix that the performance of human genotyping technology
continues to grow by leaps and bounds," said Eric Lander, Ph.D.,
director, The Broad Institute of MIT and Harvard. "It will propel
rapid progress in medical genetics."
"Our business strategy over the past decade has been to use our
manufacturing leverage and technical innovations to give customers
more data per dollar each passing year," said Stephen P.A. Fodor,
Ph.D., founder, chairman and CEO of Affymetrix. "That strategy was
instrumental in growing the gene expression market and we believe that
reducing the price per SNP will significantly increase the overall
genotyping market opportunity, particularly where large sample
populations are required."
The 1 million-SNP product, which is scheduled to be available to a
limited number of customers in the first quarter of 2007, is expected
to sell for around $500. Both the 1 million-SNP product and the single
500K chip will be based on the proven, Whole Genome Sampling Assay
(WGSA). This same technology is being used by more than 200
laboratories and has generated data for nearly 100 peer-reviewed
scientific publications.
Affymetrix offers a comprehensive solution on a single platform
for the entire association study workflow, including whole-genome
scans, replication, and fine mapping and functional testing:
-- Affymetrix Targeted Genotyping assays and services enable
researchers to genotype up to 50,000 SNPs to confirm
associations and do fine mapping
-- Affymetrix CustomSeq 300 kb Arrays enable researchers to do
detailed sequence analysis of large genomic regions to
discover SNPs and pinpoint causal variants
-- Affymetrix Gene Expression Arrays, including its tiling and
exon arrays, can be used to verify the association between the
causal variant that's been discovered and the phenotypic
effects
-- Affymetrix Mapping Arrays combine high-resolution copy number
and genotype information in a single, proven assay to provide
researchers with more power to discover and define chromosomal
copy number changes
The full GeneChip system includes:
-- GeneChip Human Mapping Arrays
-- Optimized and validated reagents based on the proven WGSA
-- Affymetrix GeneChip DNA Analysis Software (GTYPE), which uses
a new automated genotype-calling algorithm, BRLMM, that
provides a confidence score for each individual genotype
-- Controls Database that will feature more than 12,000
publicly-available samples to help reduce the number of
controls required to complete a study or as an addition to
ongoing studies
-- Affymetrix open software architecture for easy integration
with downstream analysis software and LIMS, including various
third-party providers and in-house systems
-- Affymetrix instruments, including the GCS3000 7G Scanner,
fluidics station and hybridization oven
About Affymetrix
Affymetrix scientists invented the world's first high-density
microarray in 1989 and began selling the first commercial microarray
in 1994. Since then, Affymetrix GeneChip(R) technology has become the
industry standard in molecular biology research. Affymetrix technology
is used by the world's top pharmaceutical, diagnostic and
biotechnology companies as well as leading academic, government and
not-for-profit research institutes. More than 1,400 systems have been
installed around the world and nearly 4,000 peer-reviewed papers have
been published using the technology. Affymetrix' patented
photolithographic manufacturing process provides the most information
capacity available today on an array, enabling researchers to use a
whole-genome approach to analyzing the relationship between genetics
and health. Affymetrix is headquartered in Santa Clara, Calif., with
manufacturing facilities in Sacramento, Calif., and Bedford, Mass. The
company maintains important sales and marketing operations in Europe
and Asia and has about 1,100 employees worldwide. For more information
about Affymetrix, please visit the company's website at
www.affymetrix.com.
All statements in this press release that are not historical are
"forward-looking statements" within the meaning of Section 21E of the
Securities Exchange Act as amended, including statements regarding
Affymetrix' "expectations," "beliefs," "hopes," "intentions,"
"strategies," or the like. Such statements are subject to risks and
uncertainties that could cause actual results to differ materially for
Affymetrix from those projected, including, but not limited to:
uncertainties relating to the Company's ability to offer the 500K
Array Set on a single chip before the end of 2006 and to introduce a
new 1 million-SNP array by the first quarter of 2007; risks of the
Company's ability to achieve and sustain higher levels of revenue,
higher gross margins, reduced operating expenses (including financial
risks and uncertainties associated with the Company's decision to
reduce the list price of its current two-chip 500K SNP genotyping set
discussed in this press release); uncertainties relating to
technological approaches, manufacturing (including risks related to
the Company's ability to achieve hoped-for manufacturing yields for
certain array products, including the ability to identify and resolve
manufacturing problems), product development; personnel retention;
uncertainties related to cost and pricing of Affymetrix products;
dependence on collaborative partners; uncertainties relating to sole
source suppliers; uncertainties relating to FDA and other regulatory
approvals; competition; risks relating to intellectual property of
others and the uncertainties of patent protection and litigation.
These and other risk factors are discussed in Affymetrix' Form 10-K
for the year ended December 31, 2005, and other SEC reports, including
its Quarterly Reports on Form 10-Q for subsequent quarterly periods.
Affymetrix expressly disclaims any obligation or undertaking to
release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in Affymetrix'
expectations with regard thereto or any change in events, conditions
or circumstances on which any such statements are based.
NOTE: Affymetrix, the Affymetrix logo, and GeneChip are registered
trademarks owned or used by Affymetrix Inc.