30.03.2000 – 14:00
Heska Corporation Announces Agreement With Pharmacia Diagnostics
Fort Collins, Colo. (ots-PRNewswire) - Heska Corporation (Nasdaq: HSKA), a leader in the companion animal health market, today announced that it has entered into an option agreement with Pharmacia Diagnostics, AB of Uppsala, Sweden, a subsidiary of Pharmacia Corporation. Under the agreement, Pharmacia Diagnostics will evaluate the use of Heska's recombinant allergen technology for use in their allergy diagnostic systems for humans. During the option period, Pharmacia Diagnostics has an exclusive right to license the technology for instrument-based human diagnostics. Financial terms of the agreement were not disclosed.
Pharmacia Corporation is the global leader in allergy diagnostics. Their PCS and UniCAP systems are market leaders in the $300 million annual market for in vitro allergy diagnosis. Hakan Englund, Vice President Business Development of Pharmacia Diagnostics, said, "We are excited about the evaluation of these recombinant allergens for our platform. Heska's recombinant allergens in combination with our leading CAP technology will provide a strong base for development of novel blood tests for allergy. We continue to strive to be a leader in bringing the best allergy diagnostic products to the market. Heska has an extensive intellectual property portfolio related to recombinant allergens and an excellent scientific team. We look forward to collaborating with them."
Robert Grieve, Chief Executive Officer of Heska, said, "We believe our recombinant allergen patent portfolio has potential value in both human and companion animal allergic disease. We have retained the rights to develop both diagnostic and therapeutic products using this technology for the companion animal market, and we are pursuing development partners for human therapeutic applications. We believe this collaboration with Pharmacia Diagnostics underscores the value of our technology and validates our strategy of finding world class development partners for human health applications."
Heska discovers, develops, manufactures and markets companion animal health products, primarily for dogs, cats and horses. Heska has a large and sophisticated scientific effort devoted to applying biotechnology to the large and growing companion animal health market. Heska also offers diagnostic and patient monitoring instrumentation and supplies, as well as laboratory diagnostic products in the United States and Europe to veterinarians, and operates USDA- and FDA-licensed facilities, which manufacture vaccine, pharmaceutical and allergy immunotherapy products. For additional information on Heska and its products, visit the company's web site at www.heska.com.
With the exception of historical matters, this press release contains express or implied forward-looking information about Heska's technology, potential future products, potential licenses or collaborative agreements, including statements concerning the ability to create new products utilizing these technologies or enter into collaborations with partners for human applications. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of Heska to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Heska's achievement of these results may be affected by many factors, including among others, the following: uncertainties whether this technology will be licensed, uncertainties regarding the outcome of research and development efforts or the ability to successfully develop or commercialize products in research and development, uncertainties with respect to entering into collaborations with partners to develop the technology, uncertainties regarding the ability to receive required regulatory approvals in a timely manner, if at all, uncertainties regarding the scope, enforceability and validity of patents and proprietary rights, which are subject to complex legal standards that vary from country to country and are subject to interpretation by administrative agencies and courts, quality of management, competition, changes in business strategy or development plans, inability to manufacture, market, sell or distribute products described herein, inability to manufacture, market, sell or distribute products at currently projected costs and the risks set forth in Heska's filings and future filings with the Securities and Exchange Commission, including those set forth in Heska's Annual Report on Form 10-K for the year ended December 31, 1999.
ots Original Text Service: Heska Corporation Internet: http://www.newsaktuell.de
Contact: Ron Hendrick, Executive Vice President & CFO, or Robert Grieve, Chief Executive Officer, both of Heska Corporation, (USA) 970-493-7272; or Miriam Weber (Investor Relations), (USA) 212-696-4455, ext. 352, or Matthew Knight (Media Relations), (USA) 212-696-4455, ext. 271, both of Noonan/Russo Communications, for Heska Corporation
Web site: http://www.heska.com
Original-Content von: Heska Corporation, übermittelt durch news aktuell