Business Services Industry
Clarient Enters into Training and Consulting Agreement with University of Pennsylvania School of Medicine
Business Wire, Sept 29, 2008
ALISO VIEJO, Calif. -- Clarient, Inc. (NASDAQ:CLRT), a premier anatomic pathology and molecular testing services resource for pathologists, oncologists and the pharmaceutical industry, announced today that it has entered into an agreement with the University of Pennsylvania School of Medicine's Flow Cytometry and Cell Sorting Resource Laboratory (Flow Cytometry Lab) for a multilevel educational and technical training program. This innovative program is intended to provide the technical and professional staff at Clarient with the necessary skills to provide superior clinical service using both standard and non-standard assays.
"We are delighted to enter into this revolutionary and invaluable educational collaboration with the Flow Cytometry Lab at UPenn," commented Michael Pellini, M.D., President and Chief Operating Officer of Clarient. "Their expertise will enable Clarient's team to stay at the forefront of flow cytometry technology and practices. Based in one of the nation's premiere pathology and laboratory medicine departments, the Flow Cytometry Lab will help Clarient bring the highest level of clinical services to our clients."
The agreement offers quarterly on-site training by Flow Cytometry Lab personnel, which will include evaluating current procedures and education in specific routine processes, guidelines for clinical evaluation of hematologic malignancies, quality control and quality assurance procedures, and the development of programs to assure compliance with the State of California and the College of American Pathologists educational and professional requirements. In addition, Flow Cytometry Lab professionals will provide on demand consulting and technical guidance regarding equipment and educational and process issues, and will host an annual seminar on current technological topics of interest.
The University of Pennsylvania School of Medicine's Pathology Department, which includes The Flow Cytometry and Cell Sorting Resource Laboratory, ranks first in funding from the National Institutes of Health for pathology-related grants, and is considered one of the leading academic departments of pathology in the U.S.
About Clarient
Clarient combines innovative technologies with world-class expertise to assess and characterize cancer. Clarient's mission is to provide the services, resources and critical information to improve the quality and reduce the cost of patient care, and accelerate the drug development process. The Company's principal customers include pathologists, oncologists, hospitals and biopharmaceutical companies. The rise of individualized medicine as the new direction in oncology has created the need for a centralized resource providing leading diagnostic technologies such as flow cytometry and molecular testing. Clarient is that resource, having created a state-of-the-art commercial cancer laboratory providing the most advanced oncology testing and drug development services available both onsite and over the web. Clarient is a Safeguard Scientifics partner company. www.clarientinc.com.
About Safeguard Scientifics
Founded in 1953 and based in Wayne, Penn., Safeguard Scientifics, Inc. (NYSE:SFE) provides growth capital for entrepreneurial and innovative technology and life sciences companies. Safeguard targets technology companies in Software as a Service (SaaS) / Internet-based Businesses, Technology-Enabled Services and Vertical Software Solutions, and life sciences companies in Molecular and Point-of-Care Diagnostics, Medical Devices and Specialty Pharmaceuticals with capital requirements between $5 million and $50 million. Safeguard participates in expansion financings, corporate spin-outs, management buyouts, recapitalizations, industry consolidations and early-stage financings. www.safeguard.com.
Forward-Looking Statements
The statements herein regarding Clarient, Inc. (the "Company") contain forward-looking statements that involve risks and uncertainty. These include statements regarding the Company's ability to provide superior clinical service using both standard and non-standard assays, and to stay at the forefront of flow cytometry technology and practices. Future events and the Company's actual results could differ materially from the results reflected in these forward-looking statements. Factors that might cause such a difference include, but are not limited to: the Company's ability to market and fund continued development of this new genomics-based diagnostic test for prostate cancer, the Company's ability to obtain third party payer reimbursement for this test, the efficacy of the test once introduced in the marketplace and the acceptance of this test by physicians and patients, failure to obtain any requisite regulatory clearances or approvals, the Company's ability to compete with other technologies and with emerging competitors in novel cancer diagnostics and dependence on third parties for collaboration in developing new tests, and risks detailed from time to time in the Company's SEC reports, including quarterly reports on Form 10-Q, reports on Form 8-K and annual reports on Form 10-K. Recent experience with respect to laboratory services, revenues and results of operations may not be indicative of future results for the reasons set forth above.
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