IPA APPLICATION EXPECTED TO ADVANCE EXPERIMENTAL UNDERSTANDING AND IMPROVE PRODUCTIVITY
Santa Clara and Mountain View, California, August 11, 2003 – Affymetrix, Inc., (Nasdaq: AFFX) and Ingenuity Systems announced the creation of a partnership to deliver the IPA product to Affymetrix customers. The companies also announced that Affymetrix has made an equity investment in Ingenuity.
Currently in beta release, IPA is a web-based application that is designed to enable Affymetrix customers to more easily discover, visualize and explore therapeutically relevant networks in gene expression array data sets. A limited release of the product will be available in September 2003. Pharmaceutical, biotech, and academic customers will be able to get access to the application through an annual subscription fee.
“Over the past four years, Ingenuity has developed the next generation of functional genomic analysis tools and we are excited about this new partnership,” said Trevor Nicholls, Ph.D., Affymetrix’ Chief Commercial Officer, Global Operations. “IPA will offer Affymetrix customers an efficient and powerful data analysis tool for mechanism of disease studies, pathway analysis and target identification.”
While new high-throughput experimental platforms give researchers information on millions of interrelations between proteins, small molecules and phenotypes, the time needed to manually reference scientific literature has created a research bottleneck. For example, discerning therapeutically relevant biological networks from expression profiling is still largely a slow, labor intensive, manual endeavor performed by individual scientists.
The IPA product solves that problem by employing a vast biological database of annotations from top life science journals to help research scientists link functional genetic information to relevant biological networks. By simply inputting a set of differentially expressed genes from an Affymetrix expression array, the IPA software shows scientists relevant biological networks constructed from their data.
“Affymetrix has pushed the frontiers of science and driven the need for innovative software and analysis solutions,” said Jake Leschly, President and Chief Executive Officer of Ingenuity Systems. “By combining IPA with the GeneChip platform we are integrating two critical steps in the workflow of life science researchers. The result is a dramatic increase in the productivity of research scientists involved in drug discovery and development.”
Affymetrix also made a $5 million equity investment in Ingenuity, part of a larger third-party financing package.
Affymetrix is a pioneer in creating breakthrough tools that are driving the genomic revolution. By applying the principles of semiconductor technology to the life sciences, Affymetrix develops and commercializes systems that enable scientists to improve the quality of life. The Company’s customers include pharmaceutical, biotechnology, agrichemical, diagnostics and consumer products companies as well as academic, government and other non-profit research institutes. Affymetrix offers an expanding portfolio of integrated products and services, including its integrated GeneChip platform, to address growing markets focused on understanding the relationship between genes and human health. Additional information on Affymetrix can be found at www.affymetrix.com.
About Ingenuity Systems
Ingenuity Systems is helping life science researchers explore and understand biological systems that are foundational to human health and disease. Ingenuity delivers capabilities and expertise to researchers through analysis software, genome-scale computable network databases, and knowledge management services and infrastructure, resulting in increased productivity and faster drugs to market. The company was founded in 1998 and is headquartered in Mountain View, California.www.ingenuity.com.
All statements in this press release that are not historical are “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act as amended, including statements regarding Affymetrix’ “expectations,” “beliefs,” “hopes,” “intentions,” “strategies” or the like. Such statements are subject to risks and uncertainties that could cause actual results to differ materially for Affymetrix from those projected, including, but not limited to risks of the Company’s ability to achieve and sustain higher levels of revenue, higher gross margins, reduced operating expenses, uncertainties relating to technological approaches, manufacturing, product development, market acceptance (including uncertainties relating to product development and market acceptance of the IPA software), personnel retention, uncertainties related to cost and pricing of Affymetrix products, dependence on collaborative partners, uncertainties relating to sole source suppliers, uncertainties relating to FDA and other regulatory approvals, competition, risks relating to intellectual property of others and the uncertainties of patent protection and litigation. These and other risk factors are discussed in Affymetrix’ Form 10-K for the year ended December 31, 2002 and other SEC reports, including its Quarterly Reports on Form 10-Q for subsequent quarterly periods. Affymetrix expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Affymetrix’ expectations with regard thereto or any change in events, conditions, or circumstances on which any such statements are based.
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