Exhibit 1
[LOGO] VISIBLE GENETICS INC.
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FOR IMMEDIATE RELEASE
CONTACTS:
Richard Daly (416) 813-3281 Bruno Maruzzo (416) 813-3271
CEO, Visible Genetics Inc. Investor Relations, Visible Genetics Inc.
VISIBLE GENETICS HIRES PHARMACOGENOMICS INDUSTRY PIONEER
DR. BRENDAN LARDER AS CHIEF SCIENTIFIC OFFICER
TORONTO, CANADA (JULY 26, 2001): VISIBLE GENETICS INC. (VGI, NASDAQ: VGIN) today
announced that Dr. Brendan Larder is to join Visible Genetics as its new Chief
Scientific Officer (CSO). An international thought leader in the emerging field
of pharmacogenomics, as applied to HIV, hepatitis and oncology, Dr Larder will
be leading Visible Genetics' research into new ways of applying genetic
information to improve the treatment of a wide range of diseases. He has had
previous success in developing and introducing new technologies and products
into the market and will have a key role in formulating and implementing VGI's
future product development strategy.
"I am very pleased to be joining Visible Genetics," commented Dr Larder. "The
company is already a leader in the clinical application of DNA sequencing for
drug resistance testing. I am looking forward to using my experience identifying
the genetic determinants of disease progression and treatment response to help
the company bring valuable new clinical management tools and products to
market."
Best known for his discovery of HIV drug resistance and the genetic mechanisms
that underlie it, Dr. Larder pioneered many of the technologies that are in use
today to monitor drug resistance in the clinic. In his role as CSO, Dr. Larder
will be responsible for all research activities in the company including
programs involving both existing and new assays, advanced technology platforms
for genetic and mutational analysis, and bioinformatic interpretation systems in
a variety of disease areas.
"The addition of Dr. Larder will help elevate VGI's position well beyond our
current leadership in HIV genotyping towards a future of new clinical targets
and products," said Richard T. Daly, president and CEO of Visible Genetics. "Dr.
Larder is internationally recognized for his pioneering work in viral resistance
and he will be invaluable in directing the company's research into new clinical
applications, technology platforms and analysis tools."
BACKGROUND INFORMATION
Brendan Larder obtained his bachelors and doctorate degrees at Cambridge
University in the UK. His Ph.D. thesis in 1983, focussed on the study of
biochemical mechanisms of herpes simplex virus drug resistance. Subsequently, he
spent two years as a post-doctoral research fellow in the Virology Division of
the Pathology Department at Cambridge. His research emphasis shifted to the
genetic characterization of herpes virus drug resistance. This research theme
was continued in 1985 when he joined the Wellcome Research Laboratories in
London, as a research scientist. In 1986, he initiated research work with HIV,
with particular emphasis on the mode of action of antiretroviral inhibitors such
as AZT.
Dr. Larder has been at the forefront of HIV drug resistance for over 15 years
and has numerous seminal publications in this field. His achievements include
the first identification of HIV drug resistance with the description of AZT
resistance in 1989 and the subsequent elucidation of the genetic basis of this
resistance. This research program was extended to include the description of
resistance to many other antiretrovirals, in particular, ddI, d4T, 3TC and
abacavir. In 1997, Dr. Larder joined Virco to become the Chief Scientific
Officer for the company. During this period he pioneered the development of
phenotyping and genotyping assay technologies. More recently, this work
culminated in novel pharmacogenomic developments facilitating interrogation of
large clinical databases. The applications are used to generate information
about patient specific drug resistance and are one of the first practical
examples of pharmacogenomics. In addition, Dr. Larder has recently been involved
in developing assays for hepatitis C, hepatitis B and oncology-related tests.
Visible Genetics Inc. is a leader in the emerging field of pharmacogenomics,
which uses genetic information in the identification and analysis of genes to
improve patient care and reduce healthcare costs. VGI manufactures and markets
high performance automated DNA sequencing systems and complete kits for the
analysis of genes linked to disease. The Company's OpenGene(TM) system employs
patented CLIP technology - a single-step, bi-directional sequencing method that
significantly reduces the time and cost involved in identifying clinically
relevant genetic information. Visible Genetics' TRUGENE(TM) HIV-1 Genotyping
Test and OpenGene(TM) System are currently under review at the U.S. Food and
Drug Administration (FDA).
This press release contains forward-looking statements within the meaning of the
"safe harbor" provisions of the Private Securities Litigation Reform Act of
1995. These forward-looking statements are subject to risks, uncertainties and
other factors that may cause the Company's results to differ materially from
expectations. These include risks relating to the ability to obtain regulatory
approval, market acceptance of genotyping and the Company's products, delays in,
or the refusal of, insurance companies and other third-party payors to reimburse
us for our products, delays in product development, delays in making the new
Atlanta manufacturing facility operational, and other risks as detailed from
time to time in the Company's SEC filings, including its most recent Annual
Report on Form 20-F. These forward-looking statements speak only as of the date
hereof. VGI disclaims any intent or obligation to update these forward-looking
statements.
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