San Jose, CA – June 30, 2011: Persistent Systems (BSE & NSE: PERSISTENT), a leader in software product development services, today announced that they are partnering and co-investing with Life Technologies Corporation (NASDAQ: LIFE), a global biotechnology tools company providing premier systems, consumables, and services in the molecular research and diagnostics space.
As part of the collaboration, Persistent will be investing along with the FSG (Fragment and Sequence Genomics) division of Life Technologies to build sequencing and fragment analysis software platform for capillary electrophoresis instrumentation that will be submitted for FDA clearance/approval. This solution represents an advanced genomic technology for clinics taking a step towards making personalized medicine a reality to combat critical human diseases like cancer.
Persistent Systems will be working with Life Technologies to develop an integrated interpretation software and hardware solution that will intelligently use sequencing technology to analyze patient DNA samples through advanced, user-friendly software. As a technology partner, Persistent Systems will also be providing services to integrate assays from third party vendors.
Today, molecular diagnostics is expanding beyond just the identification of infections and is recognized as an integral part of disease management and therapy. It is increasingly seen as the fastest growing segment in the in-vitro-diagnostics space with a market share predicted to reach 18% by 2014. According to Business Insights’ report on “The Future of Molecular Diagnostics” the two important growth drivers for molecular diagnostics include the need for new biomarker assays as well as techniques and technologies that lower the cost per test, and which improve ease of use, data quality and turnaround time.
“Our partnership with Persistent Systems allows us to take the next step in developing molecular diagnostics solutions that leverage our gold-standard sequencing and fragment analysis technology” said Todd Laird, Vice President and General Manager of Life Technologies Fragment and Sequence Genomics Division.
“We are delighted to partner with Life Technologies in the personalized medicine and molecular diagnostics space,” said Dr. Anand Deshpande, Chairman and Managing Director, Persistent Systems. “We believe that molecular diagnostics is an essential step to move towards personalized medicine and is vital for the future of healthcare industry. The diagnostics market holds great promise in the coming years and we are excited to extend our technology expertise and support to develop applications that are critical for saving lives.”
The life sciences and healthcare business unit at Persistent Systems has over a decade long experience, having effectively combined science and information technology to provide solutions to industry leaders in biotechnology, premier cancer research institutes, medical centers and pharmaceutical companies. By leveraging the team’s core domain knowledge, focus on software technology and in-depth understanding of various regulatory compliance requirements for FDA and CE-IVD standards we have successfully provided innovative solutions for life sciences and healthcare industry.
About Life Technologies:
Life Technologies Corporation is a global biotechnology company dedicated to improving the human condition. Our systems, consumables and services enable researchers to accelerate scientific and medical advancements that make life even better. Life Technologies customers do their work across the biological spectrum, working to advance the fields of discovery and translational research, molecular medicine, stem cell-based therapies, food safety and animal health, and 21st century forensics. The company manufactures both molecular diagnostic and research use only products. Life Technologies’ industry-leading brands are found in nearly every life sciences lab in the world and include innovative instrument systems under the Applied Biosystems and Ion Torrent names, as well as, the broadest range of reagents with its Invitrogen, Gibco, Ambion, Molecular Probes and Taqman products. Life Technologies had sales of $3.6 billion in 2010, has a workforce of approximately 11,000 people, has a presence in approximately 160 countries, and possesses one of the largest intellectual property estates in the life sciences industry, with approximately 3,900 patents and exclusive licenses. For more information on how we are making a difference, please visit our website: http://www.lifetechnologies.com. Follow Life Technologies on Twitter @LIFECorporation and on Facebook.
About Persistent Systems:
Established in 1990, Persistent Systems (BSE & NSE: PERSISTENT) is recognized as an award-winning technology company specializing in software product development services. With 6,300 employees, innovative business models, and reusable assets and frameworks, Persistent helps customers increase revenues and margins, and enhance brand value. Persistent Systems has delivered over 3,000 software product releases in their last five years and has 300 customers. The company has developed proven processes for the entire product lifecycle which reduce time-to- market while delivering consistent quality and customer satisfaction – as evidenced by customer partnerships that span many years. For more information, please visit: www.persistentsys.com
Forward-looking and Cautionary Statements: For risks and uncertainties relating to forward-looking statements, please visit: www.persistentsys.com/Portals/0/forward_looking_cautionary_statement.shtml
Media Contacts:
Pinal Patil
Persistent Systems Ltd.
Tel: 91-99229.27191
Email: [email protected]
