Third Wave, DCL Medical Laboratories Form Strategic Partnership

Third Wave Technologies Inc. (NASDAQ: TWTI), a leader in molecular diagnostics, and DCL Medical Laboratories LLC, Indianapolis, a full-service reference laboratory focused on women’s health, today announced the formation of a strategic partnership under which DCL will serve as a product development, demonstration and marketing partner with Third Wave. DCL will adopt products from Third Wave’s expanding molecular diagnostic menu and have early access to new assays and equipment developed by Third Wave. Third Wave will establish a research and development laboratory at DCL for joint product research, which will include a customer demonstration facility for Third Wave products. "We are very pleased that an innovative clinical laboratory like DCL has agreed to become a strategic partner of Third Wave’s, particularly because of DCL’s focus on HPV testing and women’s health,” said Kevin T. Conroy, president and chief executive of Third Wave. "We look forward to creating a showcase with DCL of the most innovative molecular diagnostic products and equipment, which will serve as an important resource for Third Wave’s current and prospective customers. Third Wave’s successful HPV clinical trial for our high-risk and 16/18 genotyping products, and FDA clearance of our InPlex™ CF Molecular Test demonstrate our commitment to our customers and patients, a commitment we share with DCL.” "DCL is pleased to join Third Wave in this novel strategic relationship,” said Dr. Michael Hanbury, president and chief executive of DCL. "DCL has long been recognized as a pioneering clinical laboratory specializing in women’s health. Partnering with Third Wave extends DCL’s capabilities as an interventional anatomic pathology team with experienced development and clinical trial services that target the pharmaceutical and medical device industries. We believe this expanded relationship will substantially strengthen both companies and deliver significant commercial results for DCL and Third Wave.” About Third Wave Technologies Inc. Third Wave develops and markets molecular diagnostic reagents for a variety of DNA and RNA analysis applications to meet the needs of our customers. The company offers a number of products based on its Invader® chemistry for clinical testing. Third Wave offers in vitro diagnostic kits, and analyte specific, general purpose, and research use only reagents for nucleic acid analysis. For more information about Third Wave and its products, please visit the company's website at www.twt.com. About DCL Medical Laboratories LLC DCL Medical Laboratories, founded in 1984, has expanded from a fine needle biopsy clinic and cytology laboratory to a full-service regional laboratory with operations across the Midwest including specialty testing in molecular diagnostics. DCL also provides anatomic pathology services in global clinical trials for both pharmaceutical and medical device companies in partnership with the world’s largest central laboratories and clinical research organizations. DCL is committed to being a preferred medical laboratory partner providing nationally recognized diagnostic services in women’s health. From its founding, DCL has maintained a personal approach to delivering innovative and consultative pathology services that empower clients and improve lives. DCL is a private company with principal equity holdings by Thompson Street Capital Partners in St. Louis. All statements in this news release that are not historical are forward-looking statements within the meaning of the Securities Exchange Act of 1934 as amended. Such forward-looking statements are subject to factors that could cause actual results to differ materially for Third Wave from those projected. Those factors include risks and uncertainties relating to the company's ability to bring new products to market as anticipated, the current regulatory environment in which the company sells its products, the market acceptance of those products, dependence on partners and customers, successful performance under collaborative and commercial agreements, competition, the strength of the Third Wave intellectual property, the intellectual property of others and other risk factors identified in the documents Third Wave has filed, or will file, with the Securities and Exchange Commission. Copies of the Third Wave filings with the SEC may be obtained from the SEC Internet site at http://www.sec.gov. Third Wave expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward- looking statements contained herein to reflect any change in Third Wave's expectations with regard thereto or any change in events, conditions, or circumstances on which any such statements are based. Third Wave Technologies, Invader and the Third Wave logo are trademarks of Third Wave Technologies, Inc.