OPKO Health Announces Development of Blood Test for Alzheimer's Disease

MIAMI--(BUSINESS WIRE)-- OPKO Health, Inc. (NYSE Amex:OPK) today announced the development of a simple diagnostic blood test for Alzheimer's disease. The test, designed to detect elevated levels of antibodies unique to Alzheimer's disease, was approximately 95% accurate in initial testing.

The novel Alzheimer's disease-specific antibodies were discovered using a proprietary platform being developed by OPKO that appears to be capable of identifying such biomarkers for any disease to which the immune system reacts, including cancer, autoimmune disease, neurodegenerative and infectious diseases. OPKO will perform additional studies required for regulatory approval and commercial use. The test could be useful in identifying patients for clinical trials for new Alzheimer's drugs as well as to confirm the diagnosis in a clinical setting.

Phillip Frost, M.D., Chairman and Chief Executive Officer of OPKO, stated, "OPKO has begun to develop a range of new diagnostic tests for other neurological diseases, as well as cancers, starting with those for which early diagnosis is particularly important."

About OPKO Health, Inc.

Miami-based OPKO is a specialty healthcare company involved in the discovery, development, and commercialization of proprietary pharmaceutical products, medical devices, vaccines, diagnostic technologies and imaging systems. Initially focused on the treatment and management of ophthalmologic diseases, OPKO has since expanded into other areas of major unmet medical need.

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 a diagnostic blood test for Alzheimer's disease, other neurological diseases, and cancer, our ability to develop tests to identify biomarkers for any disease to which the immune system reacts, our ability to perform and complete clinical studies required for regulatory approval, and the utility of the diagnostic test in identifying patients for clinical trials for new Alzheimer's drugs or confirming the diagnosis in a clinical setting, 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. These factors include, that initial testing may not be indicative of future success and we will be unable to successfully develop or commercialize a diagnostic test for Alzheimer's disease or any other disease to which the immune system reacts, including cancer, autoimmune disease, neurodegenerative and infectious disease, that the diagnostic test may fail and not be successful in identifying biomarkers or antibodies unique to Alzheimer's Disease or other diseases or achieve the expected results or effectiveness, and may not generate data that would support the approval or marketing of this or other diagnostic products, that others may develop products, including other early stage diagnostic products which are superior to the test we are developing, and that the diagnostic test if developed may not have advantages over other marketed products. 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.

    Source: OPKO Health, Inc.

Released February 11, 2010