SOURCE: Upstream Biosciences Inc.

April 02, 2007 09:00 ET

Upstream Biosciences Inc. and NimbleGen Systems, Inc. Announce Biomarker Validation Studies

VANCOUVER, BC -- (MARKET WIRE) -- April 2, 2007 -- Upstream Biosciences Inc. (OTCBB: UPBS) ("Upstream" or "the Company"), an emerging leader in the field of genetic diagnostics for cancer and the prediction of drug response, has appointed NimbleGen Systems, Inc. to provide Upstream with laboratory services using NimbleGen's whole genome chromatin immunoprecipitation (ChIP)-chip arrays and laboratory services to validate Upstream's in silico binding site predictions, which marks the commencement of an important phase of our biomarker validation process.

The appointment of NimbleGen meets the Company's final milestone related to the recent financing announced March 5, 2007.

Upstream utilizes advanced data mining techniques to identify regulatory regions of the genome 'upstream' of genes that have been clinically identified as being involved in various disease and drug response processes. These gene regulatory regions are the 'gene switches' that control the conditions under which a gene is activated, and the number of copies of that gene and its corresponding proteins that are expressed. Upstream currently has five provisional patent filings covering the use of certain genetic variations in these regulatory regions as diagnostic markers for various forms of cancer.

"These studies, to be completed with a world renowned group such as NimbleGen, will use clinical samples of prostate and liver cancer and normal samples to help validate the effectiveness of our proprietary biomarker candidates," says CEO Joel Bellenson. "NimbleGen's proprietary arrays cover the gene promoter sequences of the entire human genome and may allow us to probe for DNA binding sites that match the DNA-binding proteins present in diseased and normal tissue."

Upstream is developing diagnostic tests that may aid in the early detection of cancer by identifying individuals with disease susceptibility. Upstream is also developing diagnostic tests that may determine whether a drug will be useful or harmful to an individual patient based on their genetic profile. According to the Journal of the American Medical Association, each year 100,000 people die in the United States due to adverse reactions to prescription drugs.

Notice Regarding Forward-Looking Statements

This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among others, the expectation and/or claim, as applicable, that: (i) the Company will become an emerging leader in the field of genetic diagnostics for cancer and the prediction of drug response; (ii) the provision of laboratory services from NimbleGen may validate the Company's in silico binding site predictions; (iii) the Company may utilize advanced data mining techniques to identify regulatory regions of the genome 'upstream' of genes that have been clinically identified as being involved in various disease and drug response processes; (iv) the studies and use of clinical samples of prostate and liver cancer and normal samples may help validate the effectiveness of the Company's proprietary biomarker candidates; (v) NimbleGen's proprietary arrays may allow the Company to probe for DNA binding sites that match the DNA-binding proteins present in diseased and normal tissue; (vi) diagnostic tests currently being developed by the Company may aid in the early detection of cancer by identifying individuals with disease susceptibility; and (vii) diagnostic tests currently being developed by the Company may determine whether a drug will be useful or harmful to an individual patient based on their genetic profile. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others: (i) the risk that the Company does not execute its business plan; (ii) the inability of the Company to keep pace with technological advancements in the field of genetic diagnostics; (iii) the Company's inability to adequately protect its intellectual property or the Company's inadvertent infringement of third party intellectual property; (iv) the Company not being able to retain key employees; (v) competitors providing better or cheaper products and technologies; (vi) markets for the Company's products not developing as expected; (vii) the Company's inability to finance its operations or growth; (viii) inability to obtain all necessary government and regulatory approvals; and (ix) the inability to effectively market and commercialize the Company's technologies, including the establishment of viable relationships with third parties. These forward-looking statements are made as of the date of this news release and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements.

Although the Company believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations, or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in the Company's periodic reports filed from time-to-time with the Securities and Exchange Commission and available at www.sec.gov.

(c) 2007 Upstream Biosciences Inc. ~ all rights reserved

DISCLAIMER FOR HISTORICAL PRESS RELEASES AND SEC FILINGS

This section contains historical and archived press releases and SEC filings for Upstream Biosciences Inc. The information in these press releases and SEC filings is historical in nature, has not been updated, and is current only to the date indicated in the particular press release or SEC filing. This information may no longer be accurate and therefore you should not rely on the any information contained in these press releases or SEC filings and should refer to our latest press releases and SEC filings. To the extent permitted by law, Upstream Biosciences Inc. and its employees, agents and consultants exclude all liability for any loss or damage arising from the use of, or reliance on, any such information, whether or not caused by any negligent act or omission.

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