Dako Enters into Collaboration with Bristol-Myers Squibb for Pharmacodiagnostics

GLOSTRUP, DENMARK, Jun 27, 2008 (MARKET WIRE via COMTEX) -- BMY | Quote | Chart | News | PowerRating -- Dako enters into collaboration with Bristol-Myers Squibb to develop clinical diagnostics to identify cancer patients who may receive greater benefits from certain drugs being developed by Bristol-Myers Squibb.

Dako, a world-leading provider of cancer diagnostic solutions such as pharmDx(TM), has entered into a collaboration with Bristol-Myers Squibb Company (NYSE: BMY | Quote | Chart | News | PowerRating) to develop pharmacodiagnostic tests intended to identify patients more likely to benefit from treatment with certain investigational cancer drug candidates under development by Bristol-Myers Squibb.

"We are pleased to announce our collaboration with Bristol-Myers Squibb to develop these companion diagnostics that will expand the world-wide use of pharmDx(TM) assays. There is a growing need to identify those cancer therapies most effective for each patient. Dako's tests will be developed as companion products for specific Bristol-Myers Squibb investigational therapeutics. We believe it is important for pharmaceutical companies and diagnostic companies to combine their expertise into a strong collaborative approach to enable development of diagnostic tests for use with drug therapies," says Patrik Dahlen, CEO and President of Dako Denmark A/S.

Pharmacodiagnostics are increasing in demand with the recognition that personalized medicine may provide a way to improve patient care and manage healthcare costs by targeting treatments to individuals more likely to benefit from specific therapies.

Dako has a successful history in diagnostic test development. The new collaboration with Bristol-Myers Squibb recognizes Dako's position in the clinical diagnostics market and as a strong partner for developing diagnostic tests for use in conjunction with drug therapies.

About Dako

Dako, based in Denmark, is a global leader in tissue-based cancer diagnostics. Hospital and research laboratories worldwide use Dako's know-how, reagents, instruments and software to make precise diagnoses and determine the most effective treatment for patients suffering from cancer. Employing more than 1000 people and operating in more than 70 countries, Dako covers essentially all of the global anatomic pathology markets. Dako is owned by the private equity fund EQT. More information on Dako can be found at www.dako.com

Media contact: Dako Denmark A/S Maia Fredtoft Sochting, Corporate Communications, +45 25 46 10 83

Copyright Copyright Hugin AS 2008. All rights reserved.

SOURCE: Dako Denmark A/S

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