TORONTO, Dec. 10, 2018 /CNW/ - SQI Diagnostics Inc. (TSX-V: SQD; OTCQB: SQIDF), a life sciences and diagnostics company that develops and commercializes proprietary technologies and products for advanced microarray diagnostics ("SQI" or the "Company"), today announces the launch of the imaware™ at-home test for celiac disease by its partner, Microdrop. imaware™ is a pioneering at-home health testing platform that focuses on patient empowerment by providing accurate and actionable at-home disease screening. As of today, the imaware™ at-home test for celiac disease developed alongside Microdrop is available for purchase, with several other disease tests planned for the coming months.
"We are excited to play such an important role in Microdrop's imaware™ product launch," said Andrew Morris, CEO of SQI Diagnostics. "Direct-to-consumer testing is an up-and-coming, crucial piece of the diagnostics market's future, and partnering with Microdrop positions SQI to take a commanding lead in being the lab-testing technology of choice for the DTC market. The DTC market is expected to reach $350 million in 2020, and SQI has intentions to play a major role in this new space with Microdrop and their imaware™ platform as its centerpiece."
Run on SQI's automated systems, the imaware™ at-home test for celiac disease addresses a current unmet need in the market today. Celiac disease currently affects over 3 million Americans, yet over 60% of those affected remain undiagnosed. It currently takes the average patient more than 4 years from recognizing initial symptoms to receive a celiac disease diagnosis, and that makes it difficult to make the necessary lifestyle changes to reduce potential damage. The effectiveness of imaware™ has been validated by top opinion leaders and celiac disease medical doctors. imaware™ has also partnered with Beyond Celiac, a leading national celiac disease advocacy group, to help reduce the number of undiagnosed patients.
"SQI was the perfect partner for us, both in their depth of knowledge of the diagnostics and health space, and because of the potential of their platform" said Nicholas Olteanu, Chief Executive Officer for Microdrop. "SQI shares in the imaware™ mission to empower patients with the ability to accurately screen for diseases from the comfort of their own home. Removing existing barriers to disease testing increases the likelihood of early detection and diagnosis dramatically, and earlier medical diagnosis allows for health and lifestyle adjustments that can significantly improve quality of life."
In addition to celiac disease, imaware™ will release an at-home test for rheumatoid arthritis run on the SQI platform, with additional tests launching throughout 2019.
The imaware™ at-home test for celiac-disease is now shipping to consumers and can be purchased online at imaware.health.
imaware™ is a digital platform that allows patients to order an at-home testing kit online, and mail back their sample for lab processing. The tests are processed by a CLIA certified laboratory and results are available to patients within 72 hours. The accurate online results empower patients to take control of their health and share these results with their doctor. For more information, please visit imaware.health
Nicholas Olteanu, CEO
About SQI Diagnostics
SQI Diagnostics is a life sciences and diagnostics company that develops clinical grade multiplexed microarray and molecular assays run on its automated instrumentation for the pharmaceutical research, animal health, and clinical diagnostics markets. SQI develops custom research and diagnostic assays that are multiplexed; meaning the simplification, consolidation and automation of many individual tests into one. This increases sample throughput, reduces time, cost and chance for human error, and provides excellent data quality. For more information, please visit sqidiagnostics.com.
Sales and Marketing Contact:
Vice President, Global Commercial Operations
SQI Investor Relations Contacts:
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" 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, the ability of our patents to adequately protect our rights or permit us to gain or keep any competitive advantage, and our ability to market and sell our novel multiplexing technologies and detection platforms. 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: Media Contact: Nicholas Olteanu, CEO, [email protected]; Sales and Marketing Contact: Russ Peloquin, 913.484.9022, [email protected]; SQI Investor Relations Contacts: Chief Executive Officer, Andrew Morris, 416.674.9500 ext. 229, [email protected]; Vice President, Finance and Administration, Patricia Lie, 416.674.9500 ext. 277, [email protected]