Spectrumedix is an interesting situation...look into their background and see what you think.....per yahoo profile about 4.6m shares outstanding for mrq, 52wh of 8.00, and trading now around 1 7/16. this yesterday....when you poke around look for P&G this past spring:
(COMTEX) B: SpectruMedix Awarded SBIR Phase II Grant from the Nationa
B: SpectruMedix Awarded SBIR Phase II Grant from the National Heart, Lung And
Blood Institute to Develop a "Rapid, Automated Method for MIGET By Mass
Spectrometry"
STATE COLLEGE, Pa., Sep 14, 2000 /PRNewswire via COMTEX/ -- SpectruMedix
Corporation (OTC Bulletin Board: SMDX) has been awarded a Phase II Small
Business Innovation Research (SBIR) grant from the National Heart, Lung, and
Blood Institute at the National Institutes of Health. The $750,000 grant was
awarded to support the development of a "Rapid, Automated Method for MIGET by
Mass Spectrometry."
In collaboration with researchers at the University of Pennsylvania,
SpectruMedix is developing technology designed to enable the accurate and rapid
assessment of pulmonary function, as well as identifying any of a long list of
lung diseases and conditions in real time. This analytic method is based on the
patented Micropore Membrane Inlet Mass Spectrometry ("MMIMS") technology.
MIGET by MMIMS is designed to detect impairments associated with acute and
chronic pulmonary disorders such as adult respiratory distress syndrome,
pneumonia, asthma, chronic bronchitis and emphysema. The technique is expected
to greatly increase the speed, accuracy and sensitivity required to make
diagnostic, prognostic and treatment decisions for patients with pulmonary
disease.
"We're very proud to be a part of not only improving the quality of lives, but
saving them, as well, and in very significant numbers," said Dr. Joseph
Adlerstein, CEO and president of SpectruMedix. "Every year Acute Respiratory
Distress Syndrome claims hundreds of thousands of lives due to delays in
diagnosis. This technology addresses this problem directly."
James E. Baumgardner, M.D., Ph.D., principal investigator of the project and
Senior Scientist at SpectruMedix, said, "I'm delighted that we have received
this funding from the NIH. It represents welcomed peer recognition by an
outstanding group of scientists and engineers. Most importantly, this grant will
greatly accelerate the development of this technology. We are all very enthused
about bringing a proven research tool (the traditional MIGET) to the routine
care of patients with the MMIMS technology." Dr. Baumgardner is also an adjunct
assistant professor of anesthesia at the University of Pennsylvania.
Bryan E. Marshall, M.D., senior scientist for the SpectruMedix/UPENN
collaboration said, "The development of a rapid method for bringing the MIGET
analysis to routine respiratory function testing culminates many years of
research effort. This award, permitting the rapid commercial application of the
MMIMS technology to clinical practice, is a most exciting outcome." Dr. Marshall
is the Horatio C Wood emeritus professor of anesthesia at the University of
Pennsylvania.
In furtherance of initial research conducted at the University of Pennsylvania
Health System in Philadelphia, SpectruMedix is involved in the development of
instrumentation and methodology to rapidly assess lung function in all pulmonary
diseases in order to improve evaluation, diagnosis and treatment in such
patients. SpectruMedix develops and manufactures high-speed and high throughput
DNA sequencing and genetic analysis instrumentation for the acquisition,
analysis, and management of complex genetic information and high throughput
screening, massive parallel capillary electrophoresis systems for drug
discovery. The DNA sequencing and high throughput screening instrumentation were
developed in part from research efforts conducted at the U.S. Department of
Energy's Ames Laboratory, which is operated by Iowa State University's Institute
for Physical Research and Technology.
Except for historical information contained herein, the statements made in this
release constitute forward-looking statements that involve certain risks and
uncertainties. Certain factors may cause actual results to differ materially
from those contained in the forward-looking statements, including the ability of
SpectruMedix to commercialize and market its instrumentation, the availability
of funding to realize SpectruMedix's plans and other risks detailed from time to
time in SpectruMedix's reports on file at the Securities and Exchange
Commission, including SpectruMedix's Form 10-KSB for the fiscal year ended March
31, 2000. SpectruMedix disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new information, future
events or otherwise.
SOURCE SpectruMedix Corporation
CONTACT: Joseph Adlerstein of SpectruMedix, 814-867-8600
URL: spectrumedix.com
prnewswire.com
(C) 2000 PR Newswire. All rights reserved.
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KEYWORD: Pennsylvania
INDUSTRY KEYWORD: BIO
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