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Cytyc to Introduce Cellient(TM) Automated Cell Block System at American Society of Cytopathology Annual Meeting
MARLBOROUGH, Mass., (Oct 25, 2006) - Cytyc Corporation, a leading provider of medical technology, today announced that the Cellient(TM) Automated Cell Block System will be introduced at the 54th Annual Scientific Meeting of the American Society of Cytopathology November 3-8, 2006, in Toronto. The Cellient instrument is a fully automated system that allows individual cells or small tissue samples to be processed for histological examination. Cytyc estimates the potential market for the Cellient System to be approximately $100 million worldwide. Traditional methods for cell block preparation are labor intensive, sometimes taking as long as a day, and are extremely operator dependent, resulting in highly variable quality. The Cellient System is a fully-automated system that virtually eliminates operator dependence and provides standardized, consistent preparations in less than an hour. "We believe the Cellient Automated Cell Block System offers an ideal complement to our well-established cytology business and will allow us to leverage our world class laboratory sales and support infrastructure," said Tony Kingsley, president of Cytyc's diagnostics division. "The ThinPrep(R) System is the standard of care for cervical cancer screening, and we expect the Cellient System will become the new standard for cell block preparation." The concept of an improved cell block processor was originally conceived by University of Massachusetts Medical School Director of Cytopathology and Associate Professor of Pathology and Cell Biology Andrew H. Fischer, M.D. Cytyc licensed the technology through the Medical School's Office of Technology Management and incorporated it into the fully-automated Cellient System developed by Cytyc engineers. About HologicHologic, Inc. is a leading developer, manufacturer and supplier of premium diagnostic and medical imaging systems dedicated to serving the healthcare needs of women, and a leading developer of innovative imaging technology for digital radiography and breast imaging. Hologic’s core business units are focused on mammography and breast biopsy, osteoporosis assessment, and mini C-arm and extremity MRI imaging for orthopedic applications. Cytyc’s products cover a range of cancer and women’s health applications, including cervical cancer screening, preterm birth screening, treatment of excessive menstrual bleeding, radiation treatment of patients with early-stage breast cancer. Forward-Looking Statements Forward-looking statements in this press release are made pursuant to the provisions of Section 21E of the Securities Exchange Act of 1934. Investors are cautioned that statements in this press release which are not strictly historical statements, including, without limitation, statements relating to Cytyc's future financial condition, operating results and economic performance, and management's expectations regarding key customer relationships, future growth opportunities, product acceptance and business strategy, constitute forward-looking statements. These statements are based on current expectations, forecasts and assumptions that are subject to risks and uncertainties, which could cause actual outcomes and results to differ materially from those statements. Risks and uncertainties include, among others, dependence on key personnel and customers as well as reliance on proprietary technology, uncertainty of product development efforts and timelines, management of growth, product diversification, and organizational change, entry into new market segments domestically and new markets internationally, risks associated with litigation, the successful consummation of planned acquisition transactions, the effective integration of acquired businesses and technologies, competition and competitive pricing pressures, risks associated with the FDA regulatory approval processes and healthcare reimbursement policies in the United States and abroad, introduction of technologies that are disruptive to Cytyc's business and operations, the impact of new accounting requirements and governmental rules and regulations, as well as other risks detailed in Cytyc's filings with the Securities and Exchange Commission, including those under the heading "Risk Factors" in its 2005 Annual Report on Form 10-K and its most recent Quarterly Report on Form 10-Q filed with the Commission. Cytyc cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date they were made. Cytyc disclaims any obligation to publicly update or revise any such statements to reflect any change in its expectations or events, conditions, or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.
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