News & EventsFebruary 19, 2008 October 2007 July 3, 2007 |
![]() News and Events: Correlogic Press ReleasesFOR IMMEDIATE RELEASE
Annette Fribourg Vice President
Correlogic Systems, Inc. Receives Equity Investment from Quest Diagnostics
Investment To Accelerate Delivery of Correlogic’s Pattern Recognition Tests for Cancer Detection
BETHESDA, MD – June 9, 2005 – Correlogic Systems, Inc., a clinical proteomics company that has pioneered the use of pattern recognition technology in the detection of cancer and other diseases, today announced that it has received an equity investment from Quest Diagnostics Incorporated (NYSE: DGX), the largest provider of diagnostic testing, information and services in the U.S. Quest Diagnostics retains an option to commercialize specified diagnostic tests Correlogic is currently developing for certain disease states. Additional terms of the arrangement were not disclosed.
“This new dimension to our relationship with Quest Diagnostics will accelerate Correlogic’s delivery of pattern recognition based diagnostic tests,” said Peter J. Levine, President and CEO of Correlogic Systems. “Quest Diagnostics has been a leader in recognizing the value of applying proteomics and pattern recognition technology to diagnostics, and their commitment to our technology and our company will ultimately enhance patient care.”
About Correlogic Systems, Inc. Correlogic Systems, Inc. is a Bethesda, Maryland-based clinical proteomics company that has developed proprietary technology and processes with a wide variety of applications for biomarker discovery, disease detection, and new drug discovery. The technology’s first application is the profiling of serum components relating to the early detection of prostate, ovarian, breast and other cancers. Correlogic is a pioneer in the development and application of pattern recognition in disease detection. Correlogic has entered into licensing agreements with Quest Diagnostics, Inc. and Laboratory Corporation of America for the North American market development and commercialization of a diagnostic test applying Correlogic’s technology to ovarian cancer. The company’s OvaCheck™ blood test for the early detection of ovarian cancer is undergoing the final stages of its extensive validation process.
Visit Correlogic Systems at www.correlogic.com.
Cautionary Statement: Certain statements in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. Actual results could differ materially due to, among other things, operational and other difficulties associated with integrating acquired business, general business conditions, competition among managed care companies, rising health costs, trends in medical loss ratios, health care reform, delay in receipt of regulatory and other approvals for pending transactions and other regulatory issues. |