IRX Therapeutics is a New York-based immunotherapy innovator
TORONTO, July 6, 2017 /CNW/ - SQI Diagnostics Inc. ("SQI" or the "Company") (TSX-V: SQD; OTCQX: SQIDF), today announced the sale of a Sqid-X™ system under the terms of an agreement with IRX Therapeutics, a New York City-based innovator in the field of immunotherapy.
SQI is a Toronto-based life sciences and diagnostics company that develops and commercializes proprietary technologies and products for advanced multiplexed diagnostics. SQI's existing proprietary technology enables global pharmaceutical and diagnostic testing companies to perform highly complex multiplex tests much faster, more accurately and at a lower cost.
IRX will be using one of SQI's multiplexed biomarker panels in their laboratory to test therapeutic compounds. The purpose of this routine and recurring testing is to ensure quality control for the manufacturing processes of their breakthrough therapeutic compounds. The tests will be run on the easy-to-use bench-top member of SQI's automated platform family, the sqid-X system acquired under the terms of a purchase agreement.
"We are excited to see another well-respected therapeutics company validate SQI's biomarker business," said Andrew Morris, CEO of SQI Diagnostics. "This sale of the sqid-X system and the adoption of this biomarker panel is yet another validation by the worldwide pharmaceutical industry of SQI's cutting-edge multiplexing technology and our transition from a research company to a growing commercial enterprise."
About IRX Therapeutics
IRX Therapeutics is a clinical-stage company developing novel immunotherapies focused on reducing the immune suppression that is seen in the cancer tumor microenvironment, restoring immune function, and activating a coordinated immune response against the tumor. The lead candidate, IRX-2, is a proprietary therapeutic containing numerous active cytokine components. Data collected to date indicates that IRX-2 acts to restore and activate multiple immune cell types, including T cells, dendritic cells, and natural killer cells to recognize and destroy tumors. Currently, IRX-2 is being studied in an ongoing phase 2b clinical trial in patients with newly diagnosed stage II, III, and IVA squamous cell carcinoma of the head and neck (SCCHN) (INSPIRE) (clinicaltrials.gov NCT02609386) and in preoperative early stage breast cancer (ESBC) (clinicaltrials.gov NCT02950259).
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.
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For further information: Sales and Marketing Contact: Vice President, Global Commercial Operations, Russ Peloquin, 913.484.9022, email@example.com; Investor Relations Contact: Chief Executive Officer, Andrew Morris, 416.674.9500 ext. 229, firstname.lastname@example.org; Vice President, Finance and Administration, Patricia Lie, 416.674.9500 ext. 277, email@example.com