January 6, 2006

Olympus and Cangen Biotechnologies Expand Collaboration to Develop High-Throughput Molecular Diagnostic Test for Early Detection of Lung Cancer

Olympus Corporation (President: Tsuyoshi Kikukawa) has concluded the expansion of its ongoing research collaboration with Cangen Biotechnologies, Inc. (Maryland, USA; CEO: Chul So Moon, M.D., Ph.D., President: Richard A. Silfen), initiated in May 2005, to develop a hybrid DNA-based and protein-based diagnostic test for use in the early detection of lung cancer. The expanded collaboration includes funding for a prospective clinical study.

The goal of this research collaboration is the establishment of a blood-based molecular diagnostic test for early detection of lung cancer. The identification of specific DNA markers is underway. Several key DNA marker candidates with 70-80% accuracy have been identified from preserved surgically resected samples obtained by Cangen from Hyundai Hospital in Korea. These markers can be used as a hybrid with protein-based markers to improve sensitivity and specificity. In the next step, beginning this spring, the collaboration will be expanded to evaluate and finalize the DNA markers through a prospective study in Asia. Olympus and Cangen are aiming for FDA approval after approximately two years.

Olympus has been a participant since December 2002 in the activities of Cosmos Alliance (http://www.cosmosalliance.com, Washington D.C., USA; Chairman & CEO: Prof. Frank Young), an international alliance formed to accelerate commercialization in the bio life sciences through equity investments, joint ventures, collaborative research and technology transfer. Through Cosmos-facilitated joint development programs, technical cooperation programs and capital investment into the Technical- and R&D-Members within the Cosmos Bio Life Sciences Alliance that possess innovative biotech expertise, Olympus plans to accelerate the commercialization of its own range of advanced biotech-related products, which includes instruments for genome and protein analysis. This research collaboration with Cangen Biotechnologies represents one of these efforts.

Overview of Cangen Biotechnologies

Address: One Democracy Plaza, Suite 700, 6701 Democracy Boulevard, Bethesda, MD 20817, US CEO: Chul So Moon, M.D., Ph.D. President: Richard A. Silfen Founded: November 2000 About Cangen Biotechnologies: Cangen Biotechnologies, Inc. is a cancer-focused biotechnology company developing non-invasive diagnostic tests for early detection of cancer, chemosensitivity technologies to enhance the selection of cancer therapeutic regimes as well as targeted drug and biologic cancer therapies, including vaccines. The company is currently enrolling patients in a Phase 3 study to evaluate a molecular diagnostic test for the early detection of bladder cancer, based on microsatellite DNA instability. Cangen Biotechnologies is headquartered in Bethesda, MD, has laboratories in Rockville, MD and conducts additional research through a collaboration with Johns Hopkins University. The company has a clinical trial center in Seoul, Korea and operations in Tokyo, Japan.