- SQI to Develop Custom 21-Plex Protein Microarray for Drug Epitope
TORONTO, March 19, 2014 /CNW/ - SQI Diagnostics Inc. (TSX-V: SQD), a life sciences and diagnostics company that develops and commercializes
proprietary technologies and products for advanced microarray
diagnostics, today announced that it has expanded its previously
announced product development relationship with a global pharmaceutical
company ("Global Pharma 1") to develop a custom multiplex test to
support the pharmaceutical company's clinical drug development
activities, through the entering into of a revenue-generating agreement
with Global Pharma 1 to develop a 21-plex protein microarray.
Pharmaceutical companies expend substantial resources to better
understand potential immune responses to the novel therapeutics they
are developing. Under this new commercial agreement, SQI will develop a
21-plex protein microarray, based on the already completed prototype,
for use in identifying specific immunogenic regions within a specific
drug (also known as "epitope mapping") during Global Pharma 1's human
clinical trials. The agreement for the second phase of the project
includes both payment for services and for the consumables used during
development and sample testing.
SQI recently successfully completed development of a series of multiplex
anti-drug antibody ("ADA") assays for Global Pharma 1 to detect and
measure immunogenic responses to the drug during its pre-clinical
development as part of the first phase of the project.
About SQI Diagnostics
SQI Diagnostics is a life sciences and diagnostics company that develops
and commercializes proprietary technologies and products for advanced
microarray diagnostics. The Company's proprietary microarray tests and
fully-automated systems are designed to simplify protein and antibody
testing workflow, increase throughput, reduce costs and provide
excellent data quality. For more information, please visit www.sqidiagnostics.com.
SQI's custom Ig_plex® tests and SQiDlite™ automated testing equipment
provide significant benefits to drug developers. SQI's Ig_plex®
products have been shown to significantly improve the sensitivity and
other important performance metrics of ADA testing, ultimately
resulting higher quality data. By decreasing the total number of tests
performed through multiplexing, the total time required to process
tests is reduced, resulting in reduced labour and testing timelines. In
addition, considerably less blood volume is required from patient
samples. These benefits can potentially have a significant impact on a
customer's total cost of testing in the clinical phases of the
customer's drug development programs.
This press release contains certain forward-looking statements,
including, without limitation, statements containing the words "may",
"plan", "will", "estimate", "continue", "anticipate", "intend",
"expect", "believe", "in the process", "is subject to", "can" and other
similar expressions which constitute "forward-looking information"
within the meaning of applicable securities laws. Forward-looking
statements reflect the Company's current expectation and assumptions,
and are subject to a number of risks and uncertainties that could cause
actual results to differ materially from those anticipated. These
forward-looking statements involve risks and uncertainties including,
but not limited to, our ability to carry out our obligations under the
agreement referred to in this press release, whether we generate
revenue in connection with the agreement referred to in this press
release, our need for additional capital to sustain our business,
statements with respect to sales of our Ig_ plex® Celiac product and
analytical systems, agreements and future agreements to sell our
products, the success of our Diagnostic Tools and Services business and
our intent to build near-term revenue streams from this business, the
completion of our second-generation sqidlite platform, the build-out of
our portfolio of quantitative tests, the successful regulatory filing
and receipt of regulatory approvals for our later stage quantitative
diagnostic kits , the acceleration of our revenue ramp, general
economic and market segment conditions, competitor activity, technology
changes and regulatory approvals. Such statements reflect the current
views of the Company with respect to future events and are subject to
certain risks and uncertainties and other risks detailed from
time-to-time in the Company's ongoing filings with the securities
regulatory authorities, which filings can be found at www.sedar.com.
Actual results, events, and performance may differ materially. Readers
are cautioned not to place undue reliance on these forward-looking
statements. The Company undertakes no obligation to publicly update or
revise any forward-looking statements either as a result of new
information, future events or otherwise, except as required by
applicable securities laws.
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.
SOURCE: SQI Diagnostics Inc.
For further information:
Chief Executive Officer
416.674.9500 ext. 229
VP Corporate Development
416.674.9500 ext. 241