TORONTO, June 16 /CNW/ - 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
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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.
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