TUCSON, Ariz., June 23, 2016 (GLOBE NEWSWIRE) -- HTG Molecular Diagnostics, Inc. (Nasdaq:HTGM), a provider of instruments and reagents for molecular profiling applications, today announced the introduction of its Tucson‑based VERI/O laboratory service, offering laboratory support for its biopharma clients in biomarker research and companion diagnostic development. The VERI/O laboratory service formalizes and expands HTG’s traditional service offerings, including molecular profiling of retrospective cohorts to support development of targeted and immuno-oncology therapies, building custom research-use-only (RUO) assays to support early stage clinical programs, and developing companion diagnostic assays for use in Phase III registration trials.
“We are pleased with the increasing demand we are seeing from our biopharma customers for access to our HTG EdgeSeq technology as a service, which we believe marks growing acceptance of our technology by this important market segment. The VERI/O laboratory service will support biopharma’s translational and early stage clinical biomarker development. We also expect that it will drive placement of our automation platforms in contract research organizations and clinical labs when the biopharma development programs move into prospective trials or give rise to companion diagnostic tests,” stated TJ Johnson, HTG’s President and Chief Executive Officer. “We already have seen success deploying this model with our biopharma clients, enabling us to closely partner with them to meet the needs of their drug development programs,” added Mr. Johnson.
“In addition to service offerings based on our currently marketed products, we plan to offer services using our new technologies and profiling panels as they become available. We look forward to a version 2 chemistry offering in the VERI/O lab, starting with a small hotspot mutation assay, which we expect to expand to a larger panel to enable assessment of tumor mutation burden,” stated Chris Roberts, Senior Vice President of Corporate Strategy and Development.
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 regarding our VERI/O laboratory service and its expected offerings and benefits to us, demand from biopharma customers, expectations regarding the placement of our automation platforms, and plans to expand 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 biomarker panels and new technologies, including mutation panels and our version 2 chemistry. 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.