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Helicos and MGH Demonstrate Clinical Diagnostic Utility of Helicos Platform

^{Published on 2010-07-20 04:46:12 - Market Wire}
 

CAMBRIDGE, Mass.--([ BUSINESS WIRE ])--Helicos BioSciences Corporation (NASDAQ: HLCS) today announced a publication entitled aAmplification-free digital gene expression profiling from minute cell quantitiesa appearing on line in Nature Methods co-authored by Dr. Daniel A. Haber and colleagues from Massachusetts General Hospital. The paper demonstrates the quantitative capabilities of Helicosa™ single-molecule sequencing technology and its potential to reveal important genomic differences when minimal numbers of cells are available for analysis.

"This paper demonstrates significant potential clinical advantages of the single molecule-sequencing platform. The method can effectively utilize a very small number of cells for accurate molecular characterization, while being less prone to errors and representational biases seen with other sequencing techniques"

aThis paper demonstrates significant potential clinical advantages of the single molecule-sequencing platform. The method can effectively utilize a very small number of cells for accurate molecular characterization, while being less prone to errors and representational biases seen with other sequencing techniques,a said Daniel A. Haber, M.D., Ph.D., Director of the Massachusetts General Hospital Cancer Center.

aOur research with Dr. Haber and his team supports our collective interest in utilizing our single-molecule sequencing technology to improve clinical care for patients,a commented Dr. Patrice Milos, Chief Scientific Officer at Helicos. aHelicos is assessing techniques described in this publication for their potential to advance molecular diagnostic assays for patients suffering from breast and ovarian cancer.a

In this study, single RNA molecules extracted from cell lysates of malignant and nonmalignant mouse and human cells were quantitated following direct capture, first strand cDNA synthesis and sequencing directly on the HeliScope Flow Cell surface. The experimental model systems demonstrate the ability to work with small cell numbers to accurately and reproducibly identify differentially expressed genes in closely related cell types.

The joint research also demonstrated the ability to apply the same methodology to RNA isolated from formal-fixed paraffin embedded (FFPE) tissues providing a potential new method for studying stored clinical specimens.

Additional information can be found in Helicos' Annual Report on Form 10-K for the fiscal year ended December 31, 2009, as filed with the SEC on April 15, 2010, together with its Quarterly Report on Form 10-Q for the first fiscal quarter 2010, as filed with the SEC on May 17, 2010. These reports include a discussion regarding the company's need to raise capital to pursue its new business of developing molecular diagnostic tests, disclosures regarding the company's operational results and liquidity position, and additional disclosures regarding other risks and uncertainties faced by Helicos.

About Helicos BioSciences:

Helicos BioSciences is focused on innovative genetic analysis technologies for the development and marketing of molecular diagnostic tests. Helicos' proprietary True Single Molecule Sequencing (tSMSa") technology allows the direct measurement of natural DNA without the confounding steps of sample manipulation or nucleic acid amplification. Helicos is committed to commercializing new options for patients and physicians seeking reliable, cost-efficient molecular diagnostic results. For more information, please visit [ www.helicosbio.com ].

Forward Looking Statements:

Certain statements made in this press release that are not based on historical information are forward-looking statements which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. This press release contains express or implied forward-looking statements relating to, among other things, the prospective value of the unique attributes of single molecule sequencing in the diagnostics markets and the potential clinical advantages of the single molecule-sequencing platform, Helicos' belief that its technology is capable of meeting needs in the diagnostics markets in the near term, Helicos' beliefs regarding its ability to introduce successful diagnostic sequencing applications utilizing Helicos technology, Helicos' beliefs regarding competition from other companies in the diagnostics market, and management's plans, objectives and strategies. These statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond Helicos' control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. In particular, the risks and uncertainties include, among other things: our ability to successfully implement a strategic shift to focus the business on the diagnostics markets utilizing the HeliScope Sequencer; a third party suing us for infringement of intellectual property rights; the costs of, and potential for an adverse outcome from, any intellectual property litigation; our history of operating losses and ability to achieve profitability; our ability to sustain our technology and know-how; competition; changing technology and customer requirements; our ability to operate in an emerging market; market acceptance of our technology; the length of our sales and implementation cycles in the diagnostics markets; failure of our technology and products; ethical, legal and social concerns surrounding the use of genetic information; our ability to retain our remaining personnel following our May 2010 reduction in force and our ability to hire additional skilled personnel required to pursue our diagnostics strategy; our ability to manage our growth while operating with limited resources; our ability to control our operating expenses; general economic and business conditions; our ability to obtain capital when desired on favorable terms including our need for significant additional capital prior to the end of the third quarter 2010 to fund our operations; our current financial resources and substantial doubt about our ability to continue as a going concern; and the volatility of the market price of our common stock. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. While Helicos anticipates that subsequent developments may cause the company's views to change, Helicos undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise, except as required by law. For additional disclosure regarding these and other risks faced by Helicos, see the disclosure contained in Helicos' public filings with the Securities and Exchange Commission.