SOURCE: Quidel

Quidel

September 21, 2011 17:19 ET

Quidel Receives CE Mark for Its Molecular Diagnostic Test for Human Metapneumovirus (hMPV)

SAN DIEGO, CA--(Marketwire - Sep 21, 2011) - Quidel Corporation (NASDAQ: QDEL), a leading provider of rapid diagnostic testing solutions and cell-based virology assays, announced today that it has received the CE Mark for the Quidel® Molecular hMPV Real-Time RT-PCR Assay. This assay is Quidel's second molecular diagnostic test to receive authorization to market in Europe. This announcement follows the notice of the European launch of Quidel's first molecular diagnostic test -- its RT-PCR test for Influenza A+B on August 5th. Quidel's rapidly expanding menu of molecular diagnostic RT-PCR tests will provide several important benefits to the customer, including enhanced ease of use, reduced processing time, and ready-to-use reagent configurations.

The CE Mark for Quidel's molecular hMPV assay clears the way for the launch of another infectious disease molecular test offering in Europe well in advance of the respiratory disease season. This product is not for sale in the U.S. at this time.

"With the completion of each assay development project, we become even more confident in our ability to execute our pipeline strategy," said Douglas Bryant, president and chief executive officer of Quidel Corporation. "The CE Mark for hMPV is another milestone met, and evidence that we are on track with our molecular diagnostic strategy."

Human metapneumovirus, recently discovered in 2001, infects most children by the time they reach five years of age.1 It can cause serious respiratory infections, especially in infants, young children, the elderly, and in patients of all ages that are immunocompromised.1 This disease accounts for about 7% of children admitted to the hospital with respiratory infection.1 Symptoms of hMPV are very similar to and sometimes indistinguishable from those caused by human respiratory syncytial virus (RSV).2

About Quidel Corporation
Quidel Corporation serves to enhance the health and well being of people around the globe through the development of diagnostic solutions that can lead to improved patient outcomes and provide economic benefits to the healthcare system. Marketed under the QuickVue®, D3® Direct Detection and Thyretain® leading brand names, as well as under new brands such as Sofia® and Quidel Molecular®, Quidel's products aid in the detection and diagnosis of many critical diseases and conditions, including influenza, respiratory syncytial virus, Strep A, herpes, pregnancy, thyroid disease and fecal occult blood. Quidel's research and development engine is also developing a continuum of diagnostic solutions from advanced lateral-flow and direct fluorescent antibody to molecular diagnostic tests to further improve the quality of healthcare in physicians' offices and hospital and reference laboratories. For more information about Quidel's comprehensive product portfolio, visit www.quidel.com and Diagnostic Hybrids at www.dhiusa.com.

This press release contains forward-looking statements within the meaning of the federal securities laws that involve material risks, assumptions and uncertainties. Many possible events or factors could affect our future financial results and performance, such that our actual results and performance may differ materially from those that may be described or implied in the forward-looking statements. As such, no forward-looking statement can be guaranteed. Differences in actual results and performance may arise as a result of a number of factors including, without limitation, seasonality, the timing of onset, length and severity of cold and flu seasons, the level of success in executing on our strategic initiatives, our reliance on sales of our influenza diagnostic tests, uncertainty surrounding the detection of novel influenza viruses involving human specimens, our ability to develop new products and technology, adverse changes in the competitive and economic conditions in domestic and international markets, our reliance on and actions of our major distributors, technological changes and uncertainty with research and technology development, including any molecular-based technology, the medical reimbursement system currently in place and future changes to that system, manufacturing and production delays or difficulties, adverse actions or delays in product reviews by the U.S. Food and Drug Administration (the "FDA"), our ability to comply with FDA, environmental and other regulations, our ability to meet unexpected increases in demand for our products, our ability to execute our strategy, including the integration of new companies or technologies, disruptions in the global capital and credit markets, our ability to hire key personnel, intellectual property, product liability, environmental or other litigation, potential required patent license fee payments not currently reflected in our costs, adverse changes in our international markets, potential inadequacy of booked reserves and possible impairment of goodwill, and lower-than-anticipated acceptance, sales or market penetration of our new products. Forward-looking statements typically are identified by the use of terms such as "may," "will," "should," "might," "expect," "anticipate," "estimate," and similar words, although some forward-looking statements are expressed differently. The risks described under "Risk Factors" in reports and registration statements that we file with the SEC from time to time should be carefully considered. You are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date of this press release. We undertake no obligation to publicly release the results of any revision or update of the forward-looking statements, except as required by law.

1Sugrue R, Tan B-H, Loo L-H (2008). "The Emergence of Human Metapneumovirus". Future Virology 3 (4): 363-371.
2Sloots T, Mackay I (August 2006). "Human Metapneumovirus, Australia, 2001-2004". Emerging Infectious Diseases 12 (8): 1263-1266.

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