TUCSON, Ariz., May 12, 2016 (GLOBE NEWSWIRE) — HTG Molecular Diagnostics, Inc. (Nasdaq:HTGM), a provider of instruments and reagents for molecular profiling applications, today announced a research collaboration agreement with Bristol-Myers Squibb (NYSE:BMY) to evaluate the potential for immuno-oncology molecular profiling in multiple tumor types. The collaboration between HTG and Bristol-Myers Squibb will utilize the next generation sequencing (NGS)-based HTG EdgeSeq system as a tool for use in support of Bristol-Myers Squibb’s translational research activities.
“We believe this collaboration will provide many benefits to Bristol-Myers Squibb’s immuno-oncology development programs and further add to HTG’s industry leadership in the development of NGS-based molecular diagnostic assays toward the goal of precision medicine. This collaboration is the result of a long-standing Bristol-Myers Squibb/HTG relationship and we are excited to continue as a partner with Bristol-Myers Squibb’s translational research team,” said John Lubniewski, HTG’s Chief Business Officer.
Under the terms of the agreement, HTG will provide Bristol-Myers Squibb access to its NGS-based HTG EdgeSeq system and the companies will collaborate to develop tools for use for molecular profiling research for immuno-oncology.
“Immuno-oncology is a very important business segment for us and this agreement and the expansion of our relationship with BMS is a validation of our HTG EdgeSeq technology and value proposition,” stated TJ Johnson, President and CEO of HTG Molecular Diagnostics. “We firmly believe in the potential of immuno therapies in treating cancer patients and we are honored to be chosen as a profiling partner for Bristol-Myers Squibb, a recognized leader in this space.”
About HTG:
Headquartered in Tucson, Arizona, HTG’s mission is to empower precision medicine at the local level. In 2013 the company commercialized its HTG Edge instrument platform and a portfolio of RNA assays that leverage HTG’s proprietary nuclease protection chemistry. HTG’s product offerings have since expanded to include its HTG EdgeSeq product line, which automates sample and targeted library preparation for next-generation sequencing. Additional information is available at www.htgmolecular.com.
Safe Harbor Statement:
Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements associated with the expected benefits of our agreement with BMS, the role that immuno-oncology molecular profiling will have in clinical settings, including precision medicine, the potential of immunotherapy treatments, and our business and the capabilities of our technology. Words such as “believes,” “anticipates,” “plans,” “expects,” “intends,” “will,” “goal,” “potential” and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements necessarily contain these identifying words. These forward-looking statements are based upon management’s current expectations, are subject to known and unknown risks, and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, including, without limitation, risks associated with the process of developing and commercializing immuno-oncology applications and biomarker panels. These and other factors are described in greater detail in our filings with the Securities and Exchange Commission, including without limitation our Quarterly Report on Form 10-Q for the quarter ended March 31, 2016. All forward-looking statements contained in this press release speak only as of the date on which they were made, and we undertake no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.
CONTACT: Contact: Westwicke Partners Jamar Ismail Phone: 415-513-1282 Email: jamar.ismail@westwicke.com TJ Johnson President / CEO HTG Molecular Diagnostics Phone: 520-547-2827 x130 Email: tjjohnson@htgmolecular.com
