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Dear Stockholders,
With the first draft of the human genome sequence in hand, we have entered a new era – the Genetic Age – in which we will discover the causes and cures of disease and answer some of humankind’s most profound questions. The tremendous task that now confronts us is analyzing and understanding the genome in its almost unimaginable size and complexity. The genome contains over three billion bases, or letters – only a small fraction of which have been previously studied as expressed genes, or ESTs. By its very nature, this EST information has been able to provide us with only a partial picture of the myriad and intricate mechanisms of the genome.
Now that we have the full human genome sequence, we need to unravel its mysteries. We must study the many ways in which genes and their splice variants are activated and regulated, and how these complex patterns define different cells, tissues, and organs, in their healthy and diseased states. Only then will mankind begin to learn how to address our most challenging medical problems and develop better ways to prevent, diagnose, treat and ultimately cure human disease. To accelerate this research, Affymetrix is integrating the computational genomics expertise gained through our acquisition of Neomorphic, Inc. into information-rich, whole genome GeneChip® products based on both expressed and genomic sequence data.
Even more value will be gained by studying the variation among many individual genomes. Although all human genomes are roughly 99.9 percent the same, there are estimated to be about two million differences between any two individuals. These variations influence predisposition to certain diseases, variation in drug responses from person to person, and our individual physical characteristics, preferences and personalities. We formed Perlegen Sciences, a new genomics company, to play a major role in this effort by using our unique whole wafer technology to rapidly scan 50 different human genomes to identify individual genetic variations and patterns of variation throughout the genome.
In order to mine the genome for its secrets, an enormous amount of large-scale experimentation must be done. This is an extraordinary opportunity for Affymetrix and its customers to use this unique technology to conduct whole genome-based experiments. These studies are key to deciphering the immense complexity of human and other genomes, leading to the development of products that will ultimately revolutionize our quality of life.
Stephen P.A. Fodor, Ph.D.
Founder, Chairman and Chief Executive Officer