Mark A. Mozola,
Vice President of Research & Development Neogen Corp.,
Harry G. McCoy,
President, Hamilton Thorne Biosciences, Inc.,
Neogen, Hamilton Thorne Biosciences
develop advanced testing products
LANSING, Mich., June 18, 2002 — Neogen
Corporation (Nasdaq: NEOG) and Hamilton Thorne Biosciences today
announced an agreement to jointly develop the next generation of
rapid bacterial food safety tests.
Under the agreement, Neogen will license
Hamilton Thorne’s advanced ramification amplification method (RAM)
of genetic detection to develop rapid tests for dangerous foodborne
bacteria, such as E. coli O157:H7, Salmonella and Listeria. RAM technology is currently used in studies
of the genome, and diagnostic and drug discovery applications. Adapting
RAM technology to food safety applications would present numerous
advancements to the testing market, including speed and sensitivity.
"As we continue our commitment to
offer the best, simplest and fastest food safety tests in the industry,
we continue our commitment to advance the technology," said Mark
Mozola, Neogen’s vice president of Research & Development. "We believe
that Hamilton Thorne’s RAM technology offers an excellent opportunity
to advance the speed and accuracy of food safety testing, and we
look forward to developing new tests using its principles."
"We are very pleased to enter into
a business relationship with a leading company in an important market,"
said Harry McCoy, Hamilton Thorne’s president and COO. "In particular,
we are very happy that Neogen is joining us in the development of
products based on our exciting platform technology. We feel that
our RAM technology will enable Neogen to define a new generation
of tests for food safety analysis."
Hamilton Thorne Biosciences (www.hamiltonthorne.com)
is a private, Beverly, Mass.-based DNA technology company with a
focus on the detection and quantification of proteins and nucleic
acids. RAM is Hamilton Thorne’s patented method for the isothermal
(single temperature) amplification of nucleic acids.
Neogen Corporation develops and markets
products and services dedicated to food and animal safety. The Company's
Food Safety Division markets dehydrated culture media, and diagnostic
test kits to detect foodborne bacteria, natural toxins, genetic
modifications, food allergens, drug residues, plant diseases and
sanitation concerns. Neogen's Animal Safety Division markets a complete
line of diagnostics, veterinary instruments, veterinary pharmaceuticals
and nutritional supplements.
Certain portions of this news release
that do not relate to historical financial information
constitute forward-looking statements. These forward-looking statements
are subject to
certain risks and uncertainties. Actual future results and trends
may differ materially from
historical results or those expected depending on a variety of factors
Management’s Discussion and Analysis of Financial Condition
and Results of
Operations in the Company’s most recently filed Form 10-K.