Healthcare Industry News: IPLEX
News Release - October 23, 2006
Luminex Corporation Announces Market Release of Pneumococcal AssayAUSTIN, Texas, Oct. 23 (HSMN NewsFeed) -- Luminex Corporation (Nasdaq: LMNX ), a leading multIPLEX solution developer, today announced the market release of its pneumococcal assay, developed by the Luminex Bioscience Group (LBG). Luminex created the LBG in 2005 as a response to market demand for multiplexed solutions in emerging bio-assay applications. The LBG's goal is to identify key assay development opportunities and provide effective solutions to both Luminex partners and xMAP® customers.
The Luminex Pneumococcal Assay was developed utilizing the benefits of Luminex's multiplexing xMAP platform. The assay has been designed to multIPLEX the fourteen (14) commonly requested serotypes in a single reaction vessel and can be used on the existing installed base of Luminex instrumentation.
According to the CDC, Streptococcus pneumoniae (pneumococcus) is the leading cause of invasive bacterial disease in children and it is responsible for more child deaths than any other pathogen. Several available vaccines have had a significant impact on the incidence of pneumococcal disease. Before and after vaccination, physicians routinely order pneumococcal antibody screening assays to evaluate the levels of protected immunity of a patient.
Patrick J. Balthrop, president and chief executive officer of Luminex, stated, "We are extremely pleased to announce the availability of this multiplexed pneumococcal assay to our customers. The commercial launch of this assay represents a major milestone for the Luminex Bioscience Group and demonstrates our capability to deliver assay product solutions in response to unmet needs in the life sciences market."
Luminex Corporation develops, manufactures and markets proprietary biological testing technologies with applications throughout the life sciences industry. The Company's xMAP® system is an open-architecture, multi-analyte technology platform that delivers fast, accurate and cost-effective bioassay results to markets as diverse as pharmaceutical drug discovery, clinical diagnostics and biomedical research, including the genomics and proteomics research markets. The Company's xMAP technology is sold worldwide and is already in use in leading research laboratories as well as major pharmaceutical, diagnostic and biotechnology companies. Luminex's xMAP technology received the 2005 Clinical Diagnostics Technology of the Year Award from Frost & Sullivan. The Company was named in the 2005 Deloitte Fast 500 of fastest-growing technology companies. Further information on Luminex Corporation or xMAP can be obtained on the Internet at www.luminexcorp.com.
Statements made in this release that express Luminex's or management's intentions, plans, beliefs, expectations or predictions of future events are forward-looking statements. The words "believe," "expect," "intend," "estimate," "anticipate," "will," "could," "should" and similar expressions are intended to further identify such forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. It is important to note that the Company's actual results or performance could differ materially from those anticipated or projected in such forward-looking statements. Factors that could cause Luminex's actual results or performance to differ materially include risks and uncertainties relating to, among others, market demand and acceptance of Luminex's products, the Company's dependence on strategic partners for development, commercialization and distribution of products, concentration of the Company's revenue in a limited number of strategic partners, fluctuations in quarterly results due to a lengthy and unpredictable sales cycle and bulk purchases of consumables, Luminex's ability to scale manufacturing operations and manage operating expenses, gross margins and inventory levels, potential shortages of components, competition, the timing of regulatory approvals, the implementation, including any modification, of the Company's strategic operating plans, risks and uncertainties associated with implementing our acquisition strategy and the ability to integrate acquired companies or selected assets into our consolidated business operations, as well as the risks discussed under the heading "Risk Factors" in Luminex's Reports on Forms 10-K and 10-Q, as filed with the Securities and Exchange Commission. The forward-looking statements contained herein represent the judgment of Luminex as of the date of this press release, and Luminex expressly disclaims any intent, obligation or undertaking to release publicly any updates or revisions to any forward- looking statements to reflect any change in Luminex's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.
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