OPKO Health Expands Collaboration with Bristol-Myers Squibb

Mon Jan 14, 2013 10:54am EST

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MIAMI--(Business Wire)--
OPKO Health, Inc. (NYSE:OPK) announced that it has expanded its collaboration
with Bristol-Myers Squibb Company (NYSE:BMY) relating to OPKO`s diagnostic test
technology. OPKO`s simple blood tests are being developed, based on its
proprietary platform technology, to identify biomarkers for a wide variety of
diseases, including neurodegenerative disorders and various malignancies. 

In December 2010, OPKO and Bristol-Myers Squibb entered into a multi-year
collaboration agreement to investigate the utility of OPKO's novel technology
for the diagnosis of Alzheimer's disease and for identifying individuals with
early stage cognitive impairment that are likely to progress to Alzheimer's

Under the expanded collaboration, work will continue on the Alzheimer`s project
and additional investigations will use OPKO`s technology in an attempt to
identify biomarkers that are predictive of drug response(s) in several
therapeutic areas. 

Phillip Frost, M.D., Chairman and Chief Executive Officer of OPKO, stated, "We
are pleased to expand our relationship and look forward to utilizing our novel
diagnostic technology to help Bristol-Myers Squibb identify novel biomarkers
predictive of drug response." 

About OPKO Health, Inc.

OPKO is a multinational biopharmaceutical and diagnostics company that seeks to
establish industry leading positions in large, rapidly growing markets by
leveraging its discovery, development and commercialization expertise and novel
and proprietary technologies. 

This press release contains "forward-looking statements," as that term is
defined under the Private Securities Litigation Reform Act of 1995 (PSLRA),
which statements may be identified by words such as "expects," "plans,"
"projects," "will," "may," "anticipates," "believes," "should," "could,"
"intends," "estimates," and other words of similar meaning, including statements
regarding our product development efforts, including our ability to develop and
commercialize diagnostic tests for Alzheimer's and other diseases and
malignancies, our ability to utilize our technology to identify biomarkers that
are predictive of drug responses, and our ability to perform and complete
clinical studies required for regulatory approval, as well as other
non-historical statements about our expectations, beliefs or intentions
regarding our business, technologies and products, financial condition,
strategies or prospects. Many factors, including those described in our filings
with the Securities and Exchange Commission, could cause our actual activities
or results to differ materially from the activities and results anticipated in
forward-looking statements. In addition, forward-looking statements may also be
adversely affected by risks inherent in funding, developing and obtaining
regulatory approvals of new, commercially-viable and competitive products and
treatments, general market factors, competitive product development, product
availability, federal and state regulations and legislation, the regulatory
process for new products and indications, manufacturing issues that may arise,
patent positions and litigation, among other factors. The forward-looking
statements contained in this press release speak only as of the date the
statements were made, and we do not undertake any obligation to update
forward-looking statements. We intend that all forward-looking statements be
subject to the safe-harbor provisions of the PSLRA.

OPKO Health, Inc.
Steven D. Rubin or Juan F. Rodriguez, 305-575-4100 

Copyright Business Wire 2013