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MarketScreener Homepage  >  Equities  >  Nasdaq  >  OpGen, Inc.    OPGN

OPGEN, INC.

(OPGN)
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OpGen Group Company Ares Genetics Advances ares-genetics.cloud Platform, Presents Update at Scientific Conferences, Expects Granting of Key Patent

12/01/2020 | 07:30am EST

Extended collaboration with leading global generics company Sandoz for optimal antibiotic drug positioning by predictive antibiotic susceptibility testing

Presenting study on combining ares-genetics.cloud with long-read sequencing for rapid antibiotic susceptibility testing in collaboration with Johns Hopkins researchers

Expects granting of key patent on genetic resistance prediction against antimicrobial drugs

GAITHERSBURG, Md. and VIENNA, Austria, Dec. 01, 2020 (GLOBE NEWSWIRE) -- OpGen, Inc. (Nasdaq: OPGN, “OpGen”), announced today that its group company and wholly owned subsidiary Ares Genetics GmbH (Vienna, Austria; “Ares Genetics”) has extended its collaboration with Sandoz within its pharma partnering program. Also, Ares Genetics expects to present advances of its research use only (RUO) based ares-genetics.cloud platform for predictive antibiotic susceptibility testing (AST) at various scientific conferences and expects granting of key patent on genetic resistance prediction.

Ares Genetics and Sandoz, the #1 supplier of generic antibiotics globally, have extended their collaboration under a strategic collaboration agreement with the overall goal to develop a digital anti-infectives platform combining established microbiology laboratory methods with advanced bioinformatics and artificial intelligence methods to support drug development and life cycle management. The next phase of the collaboration aims at further leveraging molecular predictive AST and follows the presentation of final results from the initial collaboration phase on optimal positioning of fosfomycin and fosfomycin combination therapies by molecular antibiotic susceptibility testing and in silico modeling at the Antimicrobial Resistance – Genomes, Big Data and Emerging Technologies virtual conference in early November of this year.

Recent advances of Ares Genetics’ ares-genetics.cloud platform enabling accurate and rapid next-generation sequencing (NGS)-based AST using Oxford Nanopore Technology long-read sequencing are scheduled to be presented at the virtual Sequencing, Finishing and Analysis in the Future Meeting, from December 1 to 3, by Ares Genetics’ Head of Bioinformatics & Analytics Dr. Stephan Beisken, who leads the development. In addition, data is scheduled to be presented at the ASM Conference on Rapid Applied Microbial Next-Generation Sequencing and Bioinformatics Pipelines, from December 7 to 11 by, Dr. Patricia Simner from Johns Hopkins Medicine, who collaborates with the Ares Genetics team on developing next-generation sequencing based antibiotic susceptibility testing solutions.

Alongside these latest technology development achievements, Ares Genetics has further expanded its intellectual property (IP) portfolio and technology position in data-driven infectious disease diagnostics and recently received communication that the examining division of the European Patent Office intends to grant a European patent for European Patent Application No. 16 751 551.9 “Genetic resistance prediction against antimicrobial drugs in microorganism using structural changes in the genome.”

“We’re thrilled about our continued progress in developing and commercializing much needed solutions for rapid predictive antibiotic susceptibility testing using next-generation sequencing as well as the growing demand for our testing-as-a-service and interpretation-as-a-service offerings enabled by patent-pending AI-powered technology,” commented Dr. Andreas Posch, CEO Ares Genetics. He added, “I am particularly excited about our collaboration with Sandoz on optimal antibiotic drug positioning based on molecular testing as well as our joint work with Johns Hopkins demonstrating feasibility of accurate AST prediction using long-read sequencing technology as this technology could potentially allow for rapid predictive AST directly from native patient samples.”

About OpGen, Inc.

OpGen, Inc. (Gaithersburg, MD, USA) is a precision medicine company harnessing the power of molecular diagnostics and bioinformatics to help combat infectious disease. Along with subsidiaries, Curetis GmbH and Ares Genetics GmbH, we are developing and commercializing molecular microbiology solutions helping to guide clinicians with more rapid and actionable information about life threatening infections to improve patient outcomes, and decrease the spread of infections caused by multidrug-resistant microorganisms, or MDROs. OpGen’s product portfolio includes Unyvero, Acuitas AMR Gene Panel and Acuitas® Lighthouse, and the ARES Technology Platform including ARESdb, using NGS technology and AI-powered bioinformatics solutions for antibiotic response prediction.

For more information, please visit www.opgen.com.

Forward-Looking Statements by OpGen

This press release includes statements regarding OpGen’s collaboration with Sandoz and the expected grant of a key patent on genetic resistance prediction. These statements and other statements regarding OpGen’s future plans and goals constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties that are often difficult to predict, are beyond our control, and which may cause results to differ materially from expectations. Factors that could cause our results to differ materially from those described include, but are not limited to, our ability to successfully, timely and cost-effectively develop, seek and obtain regulatory clearance for and commercialize our product and services offerings, the rate of adoption of our products and services by hospitals and other healthcare providers, the fact that we may not effectively use proceeds from recent financings, including our November 2020 private placement, the realization of expected benefits of our business combination transaction with Curetis GmbH, the success of our commercialization efforts, the impact of COVID-19 on the Company’s operations, financial results, and commercialization efforts as well as on capital markets and general economic conditions, the effect on our business of existing and new regulatory requirements, and other economic and competitive factors. For a discussion of the most significant risks and uncertainties associated with OpGen's business, please review our filings with the Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which are based on our expectations as of the date of this press release and speak only as of the date of this press release. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

OpGen Contact:
Oliver Schacht
CEO
InvestorRelations@opgen.com

Press Contact:
Matthew Bretzius
FischTank Marketing and PR
matt@fischtankpr.com

Investor Contact:
Megan Paul
Edison Group
mpaul@edisongroup.com


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© GlobeNewswire 2020
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Financials (USD)
Sales 2020 4,14 M - -
Net income 2020 -26,1 M - -
Net Debt 2020 14,6 M - -
P/E ratio 2020 -1,40x
Yield 2020 -
Capitalization 52,2 M 52,2 M -
EV / Sales 2020 16,1x
EV / Sales 2021 8,07x
Nbr of Employees 39
Free-Float 99,9%
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Mean consensus HOLD
Number of Analysts 3
Average target price 4,83 $
Last Close Price 2,32 $
Spread / Highest target 144%
Spread / Average Target 108%
Spread / Lowest Target 72,4%
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Managers and Directors
NameTitle
Oliver Schacht Chief Executive Officer & Director
Bill E. Rhodes Non-Executive Chairman
Johannes Bacher Chief Operating Officer
Timothy C. Dec CFO, Secretary & Chief Accounting Officer
Vadim Sapiro Chief Information Officer
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