TUCSON, Ariz., Oct. 12, 2022 (GLOBE NEWSWIRE) — HTG Molecular Diagnostics, Inc. (Nasdaq: HTGM) (HTG), a life science company advancing precision medicine through its innovative transcriptome-wide profiling technology, completed its planned milestones for the third quarter of 2022, further advancing its transcriptome-informed approach to drug design and discovery utilizing the company’s proprietary HTG EdgeSeq technology.
Significant milestone progress made during the period included the advancement of machine-learning components of the transcriptome-informed drug discovery and design platform and the continued generation of internal, proprietary data supporting the training set. Capital investments made during the period established internal cell culture capabilities allowing for flexibility and expansion of HTG’s cell-based test system models. For the company’s first therapeutic target, a series of chemical libraries were designed, with the most advanced library for this target having entered preclinical characterization, along with a series of data generated including measures of early efficacy in two different disease states.
“We have made significant strides during the third quarter, further advancing our transcriptome-informed drug discovery platform and solidifying our first planned targets utilizing HTG’s novel approach,” said Dr. Stephen Barat, Senior Vice President of Therapeutics at HTG. “We have made steady progress on this very important initiative throughout 2022 and expect to continue to advance and refine our most promising potential molecular candidates for measures of efficacy, safety and pharmaceutical considerations. We are optimistic that this continued advancement will result in the selection by the end of the year of at least one candidate molecule to enter preclinical development through potential licensing or partnering opportunities.”
A cornerstone of the Therapeutics business, the HTG Transcriptome Panel (HTP) was launched with commercial availability in August 2021. The HTP was designed to enable the assessment of approximately 20,000 mRNA targets using HTG’s EdgeSeq technology, a targeted RNA sequencing technology that couples a nuclease protection assay with next-generation sequencing for rapid and accurate RNA quantification. HTG EdgeSeq’s many advantages that make it attractive technology for applying transcriptomic profiling to drug discovery include a 96-well plate format, low sample input requirement, no RNA extraction, and rapid assay and analysis time. Further information regarding HTG’s transcriptome-informed drug design and discovery platform is included in the White Papers published by HTG earlier in the year, which can be found here.
HTG is accelerating precision medicine from diagnosis to treatment by harnessing the power of transcriptome-wide profiling to drive translational research, novel therapeutics and clinical diagnostics across a variety of disease areas.
Building on more than a decade of pioneering innovation and partnerships with biopharma leaders and major academic institutes, HTG’s proprietary RNA platform technologies are designed to make the development of life science tools and diagnostics more effective and efficient and to unlock a differentiated and disruptive approach to transformative drug discovery. For more information visit www.htgmolecular.com.
Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding HTG’s expectations that its continued advance of its molecule candidates will result in the selection by the end of the year of at least one molecular candidate to enter preclinical development through potential licensing or partnering opportunities; the design, capabilities and benefits of the HTP and its potential impact on the drug discovery process, future business development, licensing and partnering opportunities, and other potential benefits of HTG’s RNA platform and technologies. Words such as “can,” “designed to,” “goal,” “intends to,” “believe,” “optimistic,” “will,” “potential” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements necessarily contain these identifying words. These forward-looking statements are based upon management’s current expectations, are subject to known and unknown risks, and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, including, without limitation, risks associated with drug discovery and development; the risk that HTP and our RNA platform and medicinal chemistry technologies may not provide the benefits that we expect; risks associated with our ability to develop and commercialize our products and our Therapeutics business, including by entering into licensing or partnering agreements for any candidates we develop; the risk that our products and services may not be adopted by biopharmaceutical companies or other customers as anticipated, or at all; our ability to manufacture our products to meet demand; competition in our industry; additional capital and credit availability; our ability to attract and retain qualified personnel; risks associated with the impact of the COVID-19 pandemic on us and our customers; and product liability claims. These and other factors are described in greater detail in our filings with the Securities and Exchange Commission (SEC), including under the “Risk Factors” heading of our Quarterly Report on Form 10-Q for the quarter ended June 30, 2022, as filed with the SEC on August 12, 2022. All forward-looking statements contained in this press release speak only as of the date on which they were made, and we undertake no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.
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