SQI Diagnostics Announces Development Deal with Silliker for Multiplexed Botulism Panel
TORONTO, April 26 /CNW/ - SQI Diagnostics Inc. (TSX-Venture: SQD), a medical systems automation company focused on evolving laboratory-based biomarker testing, today announced that it has entered into a development agreement with Silliker, Inc., a leading internationally accredited company dedicated to improving nutrition, food safety and quality, for the commercialization of a botulism toxin panel that will run on SQI's SQiDman(TM) analytical system.
The IgXplex BOTX panel, when cleared for marketing, will be used to aid in the diagnosis of botulism infection in the food chain by detecting and measuring a group of botulinum toxins. The botulism panel under development has the potential to replace current methodologies to aid in the diagnoses of food-borne botulism, which typically involve time consuming and expensive animal testing. SQI's IgXplex BOTX assay is based on the Company's core FDA-cleared IgXplex multiplexing technology that generates multiple results in a single well in the human in-vitro diagnostics autoimmune market.
Under terms of the agreement, Silliker will purchase SQiDman systems and IgXplex consumables from SQI upon successful development and AOAC validation for the test panel and system. In exchange for the purchase requirements of IgXplex BOTX assays, SQI has granted exclusive global market and distribution rights to Silliker to resell the assay and SQiDman system to its customers, which include some of the world's largest food companies. Going forward, SQI will be responsible to complete commercialization of the IgXplex panel, and Silliker will validate the assay and complete and file all regulatory documents.
"We believe there is a great opportunity to be the world's first commercial user of the only microarray-based multiplexed test for food-borne botulism," said, Russ Flowers, Chairman and Chief Scientific Officer of Silliker.
As previously announced, SQI developed a proof-of-concept of the botulism panel for Silliker, which met all endpoints required for acceptance by Silliker to launch internal studies to verify method performance and validate equivalence to current methods.
"Our emerging customer relationship with Silliker is a continuation of our commercialization process overall as a company and in particular for this market," said Claude Ricks, CEO of SQI Diagnostics. "We look forward to working with Silliker in its growth of food toxin and antigen-based multiplexed testing on the SQI platform, and building out a pipeline of tests in this field."
Botulism is caused by toxin produced by bacteria called Clostridium botulinum. The toxins this bacterium produces are among the most poisonous substances in the world according to the Mayo Clinic. Food-borne botulism are harmful bacteria that thrive and produce toxins in environments with little oxygen, such as in canned food.
The SQiDman platform has the potential to be a significant improvement over the current industry standard methods for biomarker testing, which can be inefficient and labour intensive. The SQiDman platform is used to analyze multiple biomarkers in a semi-automated process. The platform incorporates the Company's proprietary IgXplex(TM) technology to allow multiplexed quantification of target antibody and proteins for multiple biomarkers.
Part of Institut Mérieux, Silliker assures food quality, safety and better nutrition across the supply chain on a global basis. Our scientific leaders provide expertise to food companies worldwide through analytical testing, consulting, auditing and contract research activities. As the trusted partner, we work to protect and grow our customers' brands. With 50 locations and 3,000 employees serving clients worldwide, Silliker is the leading internationally accredited food testing and consulting network.
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.
Certain information in this press release is based on beliefs and assumptions of the Company's senior management and information currently available to it that may constitute forward-looking information within the meaning of securities laws. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements.
This release was prepared by management of the Company who takes full responsibility for its contents. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.For further information: Chief Financial Officer: Andrew Morris, (416) 674-9500 ext. 229, firstname.lastname@example.org; Media and Investor Relations: Adam Peeler, (416) 815-0700 ext. 225, email@example.com