TORONTO, Oct. 7 /CNW/ - SQI Diagnostics Inc. (TSX-Venture: SQD), a
medical systems automation company focused on evolving laboratory-based
biomarker testing, announced today that Thomas O'Connor has been appointed the
Company's Senior Vice President, Sales and Marketing. Mr. O'Connor brings to
SQI more than two decades of experience in sales and marketing, sales team
leadership, management and business development, during which he consistently
exceeded targets and grew business and market share.
Mr. O'Connor has held positions as Vice President of Sales, Business
Development Manager, and North America Sales Manager for companies such as
Luminex Corporation (NASDAQ: LMNX), a world leader in multiplexing, Beckman
Coulter, Inc. (NYSE: BEC), a leader of automation in clinical diagnostics, and
Exagen Diagnostics, Inc., an innovator of genomic marker testing and molecular
"Thomas' extensive experience will be a perfect fit for SQI as we move
towards the marketing approval and commercialization of SQiDworks(TM) platform
and QuantiSpot RA(TM) microarray consumable test in the United States, Canada
and Europe," said Claude Ricks, CEO and President of SQI Diagnostics. "Thomas'
proven ability to effectively build market share and his familiarity with our
target customer base will enable SQI to capitalize on the significant growth
in the demand for biomarker testing across a range of diseases."
Mr. O'Connor will be based in the U.S. and will be responsible for
building SQI's multiplex immunoassay platform franchise in North America and
Europe. SQI intends to file an application with the United States Food and
Drug Administration seeking clearance to market its SQiDworks platform and
lead test QuantiSpot RA microarray in the U.S.
"SQI's automated technology significantly improves upon the current
industry standard methods for biomarker testing, which are labour intensive
and inefficient," said Thomas O'Connor. "Joining SQI at this time is an
opportunity for me to dedicate my efforts to the advancement of healthcare and
the quality of life, and to be a part of the movement to replace the current
medical guesswork with precision and accuracy in clinical diagnostics."
SQiDworks is a fully-automated fluidics workstation, scanner and
analytical device used to process SQI Diagnostics proprietary QuantiSpot
microarray test devices. The platform fully integrates all assay steps for
hands-free work-flow and is compatible with standard lab automation systems.
The platform is capable of processing up to 240 patient samples per run and
when combined with the Company's QuantiSpot multiplexed tests can produce
quantified determinations for up to 960 individual test results per hour
resulting in significant laboratory efficiencies and cost-savings.
The SQI Diagnostics microarray device, QuantiSpot, is a multiplexed assay
consumable for use with the SQiDworks workstation. QuantiSpot tests are
currently being developed for the detection and quantification of biomarkers
used in the diagnosis of Autoimmune Disease, Infectious Disease and Allergic
conditions, among others. Each of the 96 wells of the QuantiSpot device
contains proprietary microarrays for duplicate antibody capture, in-sample
calibration and redundant test controls. When combined with the SQiDworks
fully-automated workstation, users are able to process multiplexed assays to
quantify serum concentrations of up to 12 individual biomarkers or the
qualitative detection of up to 24 biomarkers per patient.
About SQI Diagnostics
SQI Diagnostics is a medical systems automation company focused on
evolving laboratory-based biomarker testing. Using automation and proprietary
miniaturization technologies, SQI Diagnostics significantly improves the
economies of scale for laboratories performing multiple biomarker testing at
high volumes, allowing them to deliver patient results faster using less
labour and fewer resources. SQI Diagnostics' platform has a user-friendly
interface, high sample throughput and offers a more efficient alternative to
current testing options. SQI Diagnostics' initial products target the
$1.4 billion autoimmune disease market, with initial products for rheumatoid
arthritis and thrombosis scheduled for launch in 2008. SQI Diagnostics is
based in Toronto, Canada. For further information please visit
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
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:
For further information: Chief Financial Officer, Andrew Morris, (416)
674-9500 ext. 229, email@example.com; Investor Relations, Adam
Peeler, (416) 815-0700 ext. 225, firstname.lastname@example.org