CAMBRIDGE, Mass.--(BUSINESS WIRE)--Helicos BioSciences Corporation today announced the completion of the sale of a Helicos® Single Molecule System to the St. Laurent Institute (SLI). The installation of the system is expected to be completed in early February.
“As a breakthrough in the state of the art for exploring the coding and non-coding transcriptome, Helicos offers the key to unravel the genomic complexity of human chronic diseases. We are very excited to bring the power of Helicos to bear on our urgent biological questions.” stated Georges St. Laurent, Scientific Director of the institute.
The agreement with SLI was previously announced in early 2009. The contractual terms were subsequently revised by Helicos to support SLI with a site for installation.
The Company also announced an agreement to install a second Helicos® Genetic Analysis System at Stanford University. This second system is expected to come on-line in March to meet the growing demand for access to Helicos’ True Single Molecule Sequencing technology.
“We are very pleased to add the Saint Laurent Institute to the growing number of leading institutions using the Helicos® Single Molecule System to generate breakthrough discoveries. It is becoming clear to many leading research institutions that single molecule genetic analysis is leading to new answers to scientific questions that could only be dreamed of before” stated Ron Lowy, Helicos Chief Executive Officer.
“We are also excited about continued acceleration of experiments at a number of current customers which we expect will lead to the addition of multiple units at those sites. We anticipate this trend will continue going forward” said Lowy.
The Helicos Genetic Analysis System is the world’s first and only commercially available, single molecule sequencing technology, and enables scientists to conduct revolutionary studies to understand genome biology and regulation. Genetic analysis with Helicos’ technology eliminates the biases, complexity and errors introduced by DNA amplification, requires minute amounts of starting material, is amenable to the analysis of degraded nucleic acids, and provides the most quantitatively accurate view of biological samples.
About Helicos BioSciences:
Helicos BioSciences is a life science company focused on innovative genetic analysis technologies for the research, drug discovery, and diagnostic markets. Helicos' proprietary True Single Molecule Sequencing, tSMS(TM), technology allows direct measurement of billions of strands of DNA enabling scientists to perform experiments and ask questions never before possible. Helicos is a recipient of two $1,000 genome grants and committed to providing scientists the tools to unlock the era of genomic medicine. The company's corporate headquarters are located at One Kendall Square, Building 700, Cambridge, MA 02139, and its telephone number is (617) 264-1800. For more information, please visit www.helicosbio.com.
Certain statements made in this press release that are not based on historical information are forward-looking statements which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. This press release contains express or implied forward-looking statements relating to, among other things, the Company’s expectations regarding future sales and adoption of the Helicos® Genetic Analysis System and technology, the installations discussed in this press release, and management's plans, objectives and strategies. These statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond Helicos' control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. In particular, the risks and uncertainties include, among other things, our ability to successfully complete and/or scale the manufacturing and commercialization process for the Helicos® Genetic Analysis System; our history of operating losses and ability to achieve profitability; our ability to sustain and scale our manufacturing capabilities; the research and development spending levels of academic, clinical and governmental research institutions and pharmaceutical, biotechnology and agriculture companies who may purchase our Helicos® Genetic Analysis System; our reliance on third-party suppliers; competition; changing technology and customer requirements; our ability to operate in an emerging market; market acceptance of our technology; the length of our sales and implementation cycles; our dependence on large contracts for the sale and implementation of our Helicos® Genetic Analysis System; failure of our technology and products; our ability to maintain customer relationships and contracts; ethical, legal and social concerns surrounding the use of genetic information; our ability to retain our personnel and hire additional skilled personnel; our ability to manage our growth while operating with limited resources; our ability to control our operating expenses; general economic and business conditions; our ability to obtain capital when desired on favorable terms; and the volatility of the market price of our common stock. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Helicos undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise. For additional disclosure regarding these and other risks faced by Helicos, see the disclosure contained in Helicos' public filings with the Securities and Exchange Commission.