BSTE Biosite (MM)

SIRS-Lab GmbH entered into a collaboration agreement with the U.S.-based bio-medical company, Biosite(R) Incorporated (NASDAQ:BSTE) for the evaluation and potential commercialization of sepsis markers. Under the collaboration, SIRS-Lab will provide access to selected biomarkers for sepsis. Biosite will then make antibodies to those selected targets using the Company's proprietary antibody development process, which combines immunization of mice and phage display to generate highly diverse libraries of Omniclonal(R) antibodies with high affinity and low cross-reactivity. The antibodies will be used to generate assays for the measurement of the selected biomarker targets in blood samples. Validated biomarkers will then be assessed for commercialization potential, with high-value markers added to Biosite's product development process. "We are delighted to work with Biosite to evaluate the potential value of our sepsis biomarkers for clinical diagnostic applications," said Dr. Stefan Russwurm, SIRS-Lab's chief executive officer. "This agreement combines the strengths of both companies: Biosite's proven antibody development and commercialization process for diagnostic products with our expertise in molecular medicine concerning inflammatory diseases." "Our Biosite Discovery program is focused on diseases for which rapid and accurate diagnostic tests are needed. Our antibody technology allows us to quickly and economically evaluate potential biomarkers for new tests," said Gunars Valkirs, Ph.D., senior vice president Biosite Discovery. "We value SIRS-Lab's competence in the identification of biomarkers and we are pleased to have access to their intellectual property in the area of sepsis." The financial terms of the agreement were not disclosed. About SIRS-Lab SIRS-Lab, a research driven diagnostics company located in the BioInstrumentation Center in Jena/Germany, is focused on the identification, development and commercialization of novel, proprietary biomarkers. Those biomarkers provide a basis for the development of diagnostic systems for the early identification of inflammatory/ immunological host responses as well as for the early identification of the bacterial causes of infection. SIRS-Labs mission is the development of new diagnostic systems for clinical routine diagnostic and therapy monitoring of sepsis and acute inflammatory diseases. Information on SIRS-Lab can be found at http://www.sirs-lab.com/. About Biosite Incorporated Biosite Incorporated is a leading bio-medical company commercializing proteomics discoveries for the advancement of medical diagnosis. The Company's products contribute to improvements in medical care by aiding physicians in the diagnosis of critical diseases and health conditions. Biosite's Triage(R) rapid diagnostics are used in approximately 50 percent of U.S. hospitals and in more than 50 international markets. Information on Biosite can be found at www.biosite.com. Except for the historical information presented herein, matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Statements that are not historical facts, including but not limited to statements that are preceded by, followed by, or that include the words "will"; "believes"; "should"; "intends"; "anticipates"; "plans"; "expects"; "estimates"; or similar statements are forward-looking statements. Forward looking statements include statements about the potential benefits of the collaboration and license agreement between Biosite and SIRS-Lab, Biosite's ability to generate antibody libraries of selected targets and evaluate the diagnostic utility of the targets, Biosite's ability to develop and commercialize potential products based on selected targets and Biosite's ability to incorporate any licensed targets into its product development pipeline. Risks that should be considered include risks and uncertainties regarding the discovery and product development process generally, risks associated with the introduction of competitive products from companies with greater capital and resources, uncertainties around the proprietary nature of the targets subject to the collaboration, expansion or development of a direct sales effort in domestic and international markets, and risks and expenses associated with litigation, contract disputes, patent conflicts, product recalls, manufacturing constraints, backlog, delays or inefficiencies, shipment problems, seasonal customer demand, the timing of significant orders, changes in reimbursement policies, regulatory changes, competitive pressures on average selling prices, and the other risks detailed in Biosite's most recent Annual Report on Form 10-K, as amended, Quarterly Report on Form 10-Q, and other SEC filings. Biosite disclaims, any intent or obligation to update these forward-looking statements. Copies of Biosite's public disclosure filings are available from its investor relations department. Biosite(R), Omniclonal(R), Triage(R) and New Dimensions in Diagnosis(R) are registered trademarks of Biosite Incorporated. The Company's logo is a trademark of Biosite Incorporated.