TUCSON, Ariz., June 05, 2017 (GLOBE NEWSWIRE) -- HTG Molecular Diagnostics, Inc. (Nasdaq:HTGM), a provider of instruments, reagents and services for molecular profiling applications, announced that it has amended and restated its IVD Test Development and Component Supply Agreement with Illumina to, among other things, extend the agreement term and increase the number of in-vitro diagnostic (IVD) test kits that may be developed for use with Illumina sequencing technology.
“We are pleased to have extended our IVD development agreement with Illumina,” stated TJ Johnson, President and Chief Executive Officer of HTG. “Our HTG EdgeSeq research use only products that utilize Illumina sequencer technology have been well received by customers, which leads us to believe customers can easily adopt our IVD kit portfolio planned for development under this agreement.”
About HTG:
Headquartered in Tucson, Arizona, the mission of HTG Molecular Diagnostics (HTG) is to empower precision medicine at the local level. In 2013 the company commercialized its first instrument platform and a portfolio of RNA assays that leveraged HTG's original proprietary nuclease protection chemistry. Continuous improvement led to the 2014 launch of the company’s 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 about the expected benefits of our Amended and Restated IVD Test Development and Component Supply Agreement (Agreement) with Illumina, Inc., including anticipated customer adoption of the in vitro diagnostic (IVD) kit portfolio planned for development under the Agreement. 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 IVD products, the risk that customers may not adopt IVD products developed under the Agreement easily, at all or at the rate we expect, and risks related to our ability to achieve and sustain sufficient market acceptance, and the capabilities of our products to keep pace with rapidly changing technology and customer requirements. 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, 2017. 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.