Genaissance (NASDAQ:GNSC)
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Genaissance to Provide Pharmacogenetic Support to INC Research,
Its First CRO Partner
NEW HAVEN, Conn., June 7 /PRNewswire-FirstCall/ -- Genaissance
Pharmaceuticals, Inc. (NASDAQ:GNSC) announced today that it has entered into a
strategic partnership agreement with INC Research(R), a global therapeutically
specialized contract research organization (CRO) focused on oncology,
pediatrics and central nervous system (CNS) clinical research. Under terms of
the agreement, Genaissance, a leading developer and user of genetic information
to help guide medical therapy, will provide pharmacogenetic clinical
development services to clients of INC Research.
With global headquarters in Raleigh, North Carolina, INC Research manages
international drug development for pharmaceutical and biotechnology companies
from its five North American facilities and twelve facilities located
throughout Western, Eastern and Central Europe.
As part of a plan to expand the market opportunities for its current
pharmacogenetics service offering, Genaissance selected INC Research as its
first CRO partner. Genaissance's technology has been utilized by more than
two-thirds of the top 20 pharmaceutical companies in support of over 550
clinical trials.
Since the issuance by the U.S. FDA in March 2005 of the Guidance for Industry,
Pharmacogenomic Data Submissions, industry interest in the technology has been
increasing. "Our clinical services business provides customers a turn-key
means of adding world-class pharmacogenetic technology to their drug
development programs, while at the same time eliminating capital investment and
learning curves for the organization," notes Kevin Rakin, President and CEO of
Genaissance.
Genaissance's pharmacogenetic services span the entire drug development process
and range from strategy formulation, to logistical management of samples and
data, to identification of biomarkers of drug response. Laboratory services
include sample management, DNA extraction and purification, DNA and tissue
storage and banking, and genotyping and sequencing on multiple platforms.
"By utilizing the pharmacogenetic expertise represented by Genaissance, the
potential benefit to our customers is improvement in the process of drug
discovery, development and regulation," stated Jim Ogle, CEO of INC Research.
"INC Research is pleased to collaborate with Genaissance to provide further
enhancements to our full service offering."
About INC Research
INC Research (http://www.incresearch.com/) is a large, therapeutically
specialized contract research organization focused on managing CNS, oncology
and pediatric clinical trials. For over two decades the company has been
dedicated to managing all aspects of global clinical development programs for
pharmaceutical and biotechnology customers developing treatments in these
highly complex areas of research. Through its DataSpectrum division, INC
Research provides a full range of data management, statistical analysis and
medical writing services to support global drug development requirements for
any therapeutic area. INC Research has offices in North America and Western,
Eastern and Central Europe.
About Genaissance
Genaissance Pharmaceuticals, Inc. is developing innovative products based on
its proprietary pharmacogenomic technology and has a revenue-generating
business in DNA and pharmacogenomic products and services. Genaissance also
markets its proprietary FAMILION(TM) Test, designed to detect mutations
responsible for causing Familial Long QT and Brugada Syndromes, two causes of
sudden cardiac death. The Company's product development strategy is focused on
drug candidates with promising clinical profiles and finding genetic markers to
identify a responsive patient population. This strategy enables Genaissance to
leverage existing clinical data and, thus, reduce the costs and risks
associated with traditional drug development and increase the probability of
clinical success and commercialization. The Company's lead therapeutic
product, vilazodone for depression, is in Phase II of development. For more
information on Genaissance, visit the Company's website at:
http://www.genaissance.com/.
This press release contains forward-looking statements, including statements
about the expected growth and development of Genaissance's business, such as
Genaissance's efforts to build a drug candidate pipeline, the timing and
outcome of its genetic testing programs, the ability of Genaissance to apply
its technologies to the development, marketing and prescribing of drugs and
Genaissance's ability to detect associations between clinical outcomes and
genetic variation. Such statements are subject to certain factors, risks and
uncertainties that may cause actual results, events and performance to differ
materially from those referred to in such statements, including, but not
limited to, the extent to which genetic markers (haplotypes) are predictive of
clinical outcomes and drug efficacy and safety, the attraction of new business
and strategic partners including CROs, the adoption of our technologies by the
pharmaceutical industry, the acceptance of our cardiac tests by health care
providers, the timing and success of clinical trials, competition from
pharmaceutical, biotechnology and diagnostics companies, the strength of our
intellectual property rights and those risks identified in our Quarterly Report
on Form 10-Q for the quarter ended March 31, 2005, filed with the Securities
and Exchange Commission on May 5, 2005, and in other filings we make with the
Securities and Exchange Commission from time to time. The forward-looking
statements contained herein represent the judgment of Genaissance as of the
date of this release. Genaissance disclaims any obligation to update any
forward-looking statement.
DATASOURCE: Genaissance Pharmaceuticals, Inc.
CONTACT: Carol R. Reed, MD, Vice President, Medical Affairs of
Genaissance Pharmaceuticals, Inc., +1-203-786-3617, or ;
or Rhonda Chiger (investors) of Rx Communications, +1-917-322-2569, or
; or Trisha Vonder Reith, Executive Director, Corporate
Communications of INC Research, +1-858-597-6418, or ;
or Tom Redington (media) of Redington, Inc., +1-203-222-7399, or
+1-212-926-1733, or
Web site: http://www.genaissance.com/
http://www.incresearch.com/