TORONTO, June 16 /PRNewswire-FirstCall/ - SQI Diagnostics
Inc. (TSX-V: SQD), a medical systems company focused on evolving
laboratory-based biomarker testing, today announced that
Gamma-Dynacare Medical Laboratories, one of Canada's largest providers of laboratory
services, has agreed to put into operation SQI's SQiDworks(TM)
platform, and to purchase SQI's multiplexed IgXplex(TM) Rheumatoid
Arthritis consumables to meet its commercial needs.
"The agreement with Gamma-Dynacare is an important step forward
for SQI as it marks a strategic conversion of an evaluation
platform to a revenue generating customer," said Claude Ricks, CEO of SQI Diagnostics. "As SQI
accelerates the development of additional clinical panels of
biomarkers to multiplex including the highest-demand autoimmune
test panels for conditions such as celiac, lupus and vasculitis, we
are optimistic we will expand our commercial relationship with
Gamma-Dynacare."
The two companies are also in discussions to beta test the SQI
multiplexed IgXPLEX(TM) Celiac panel in the near future.
The SQiDworks(TM) platform was placed at Gamma-Dynacare on a
consignment basis under the terms of a 60-day performance
evaluation agreement. With the evaluation now successfully
completed, Gamma-Dynacare will begin purchasing the rheumatoid
arthritis IgXplex consumables to test patients for RF and CCP
biomarkers.
"The implementation of this advanced, cost-saving technology is
an exciting development for Gamma-Dynacare as it supports our
commitment to leverage laboratory testing solutions that keep us at
the forefront of the rapidly evolving industry," said Jeff Sumner, Vice President and Chief Scientific
Officer of Gamma-Dynacare.
Gamma-Dynacare Medical Laboratories is one of Canada's largest providers of laboratory
services and solutions. Headquartered in Brampton, Ontario, Gamma-Dynacare operates
three laboratories in Ontario, one
in Montreal, one in Winnipeg and an extensive network of more than
150 specimen collection centres nationwide. The company's clients
include eight million patients, more than 12,000 healthcare
professionals, governments, regional health authorities, hospitals,
long-term care facilities, clinical trial sponsors, employers,
insurers and other laboratories.
The introduction of SQI's automated SQiDworks(TM) diagnostics
platform and the IgXPLEX Rheumatoid Arthritis assay marks the
world's first fully-automated microarray workstation and
multiplexed assay system. SQI believes its automated technology can
dramatically increase the profitability of laboratory diagnostic
testing because of its speed, precision and efficiency.
About SQI Diagnostics
SQI Diagnostics is a medical systems company that develops
proprietary technology in multiplexing, miniaturization and
automation. SQI provides laboratories the ability to simultaneously
analyze multiple biomarkers, deliver accurate patient results in
less time, significantly reduce labour, and increase profits...All
in One Drop. For more information,
please visit www.sqidiagnostics.com
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This update contains "forward looking statements" within the
meaning of the United States Private Securities Litigation Reform
Act of 1995 and applicable Canadian securities legislation.
Generally, these forward looking statements can be identified by
the use of forward looking terminology such as "plans",
"anticipated", "expects" or "does not expect", "is expected",
"budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates" or "does not anticipate", or "believes", or
variations of such words and phrases or state that certain actions,
events or results "may", "could", "would", "might" or "will be
taken", "occur" or "be achieved". SQI is subject to significant
risks and uncertainties which may cause the actual results,
performance or achievements to be materially different from any
future results, performance, or achievements expressed or implied
by the forward looking statements contained in this release. SQI
cannot assure investors that actual results will be consistent with
these forward looking statements and SQI assumes no obligation to
update or revise the forward looking statements contained in this
release to reflect actual events or new circumstances.
SOURCE SQI Diagnostics Inc.