Reykjavik, ICELAND, April 25, 2008 – deCODE genetics (Nasdaq:DCGN) today expressed its enthusiastic support for the Genetic Information Non-discrimination Act (GINA), a bill that, many years in the making, is now moving swiftly through Congress and is expected to be signed promptly by President Bush. GINA would provide a federal counterpart to existing legislation in many states prohibiting discrimination against individuals in matters of employment or healthcare coverage based upon the results of genetic tests or other genetic information.
deCODE was founded more than a decade ago with a simple mission: to discover the key genetic factors involved in major challenges to public health, and to turn these discoveries into better means of diagnosing, treating and preventing disease. In that time, deCODE has established itself as the world leader in discovering variations in the genome conferring risk of a range of common diseases, from diabetes to heart attack to common cancers. It has done so through the participation in its gene discovery programs by hundreds of thousands of people from around the world, and has in the process pioneered genotyping, data mining, and data and privacy protection methods for vast sets of genetic and healthcare information. Through its CLIA-registered reference laboratory the company now offers DNA-based risk assessment tests based upon its discoveries in a growing number of common diseases, as well as an informational personal genome analysis service through which individuals can put themselves in the context of advances in the field of human genetics.
“Legislation like GINA represents an important step forward in keeping our ideas of civil rights and self determination up to date with advances in science and medicine. Genetic information is deeply personal, but we have to be able to share it and analyze it in order to contribute to better healthcare, not only our own but also for that of people around the world and of our children and grandchildren. My hope is that this sort of legislation will help to ensure that people will be able to participate in research and utilize the rapid advances in genetics to preserve and improve their health, without fear that knowledge about their own genome might somehow later be used against them. Once these protections are in place, we must also work to ensure clear and high standards are set for the scientific rigor and technical quality of the genetic testing that is available, encouraging individuals, employers and healthcare providers to embrace the health and economic benefits these can provide,” said Kari Stefansson, CEO of deCODE.
About deCODE
deCODE is a biopharmaceutical company applying its discoveries in human genetics to the development of diagnostics and drugs for common diseases. deCODE is a global leader in gene discovery — our population approach and resources have enabled us to isolate key genes contributing to major public health challenges from cardiovascular disease to cancer, genes that are providing us with drug targets rooted in the basic biology of disease. Through its CLIA-certified laboratory, deCODE is offering a growing range of DNA-based tests for gauging risk and empowering prevention of common diseases, including deCODE T2™ for type 2 diabetes; deCODE AF™ for atrial fibrillation and stroke; deCODE MI™ for heart attack; and deCODE ProCa™ for prostate cancer. deCODE is delivering on the promise of the new genetics.SM Visit us on the web at www.decode.com; on our diagnostics website at www.decodediagnostics.com; and, for our pioneering personal genome analysis service, at www.decodeme.com.
Any statements contained in this presentation that relate to future plans, events or performance are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results, and the timing of events, to differ materially from those described in the forward-looking statements. These risks and uncertainties include, among others, those relating to our ability to obtain financing and to form collaborative relationships, uncertainty regarding potential future deterioration in the market for auction rate securities which could result in additional permanent impairment charges, our ability to develop and market diagnostic products, the level of third party reimbursement for our products, risks related to preclinical and clinical development of pharmaceutical products, including the identification of compounds and the completion of clinical trials, the effect of government regulation and the regulatory approval processes, market acceptance, our ability to obtain and protect intellectual property rights for our products, dependence on collaborative relationships, the effect of competitive products, industry trends and other risks identified in deCODE’s filings with the Securities and Exchange Commission, including, without limitation, the risk factors identified in our most recent Annual Report on Form 10-K and any updates to those risk factors filed from time to time in our Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. deCODE undertakes no obligation to update or alter these forward-looking statements as a result of new information, future events or otherwise.