Third Wave and 3M Announce Agreement for Advanced Molecular Diagnostic Platform

26-Aug-2004

Third Wave Technologies Inc. (Nasdaq: TWTI) and 3M today announced the signing of a supply agreement that will provide Third Wave customers with the option of coupling the accuracy and ease of use of its Invader(R) technology, a novel DNA and RNA analysis chemistry, with 3M's microfluidic technology. This innovative, new platform option will enable clinical laboratories to forgo the numerous liquid-handling steps, improving lab efficiency and shortening the time to test results.

Under the agreement, 3M Bioanalytical Technologies Project will supply Third Wave with its innovative microfluidic technology.

The availability of the 3M platform will enhance Third Wave's molecular diagnostic product offering by providing customers with a platform option that will extend the Invader(R) technology's simplicity and ease of use. Enabling laboratories to pair new Invader(R) products with the 3M platform can allow them to cut their technician hands-on time by reducing the number of liquid-handling steps, for example.

"We're excited to combine 3M's innovative microfluidic technology with Third Wave's Invader(R) chemistry to provide customers with an exciting diagnostic platform," said Gregg Vandesteeg, staff vice president, research and development, 3M Health Care Business. "Our microfluidic platform and Third Wave's Invader(R) products are ideal complements."

"Third Wave is very pleased to partner with 3M, a world leader in health care innovation, to offer an exceptional platform option to our customers," said John Puisis, president and chief executive officer of Third Wave. "Our agreement with 3M will enable us to provide an innovative, valuable solution that responds to our customers' desire for even simpler and easier-to-use molecular diagnostic products."

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