In the flurry last week i did not want this one to get passed over. SMDX (closed fri at 1.06 on approx 59k...lot of vol) has about 4.2m outstanding and this release ref increase in instrument sales dovetails with approx 1.5m in research contracts over the past number of months. genes/bitotech will continue to be an area that will draw investor dollars and i think this one is worth a look. like all companies inn this field they will need add'l funds but depending on sales that may or may not be a major problem.:
SpectruMedix Corp. Reports Rise in Instrument Sales
STATE COLLEGE, Pa., Jan. 12 /PRNewswire/ -- SpectruMedix Corp. (OTC Bulletin Board: SMDX - news) reports an
increase in the pace of instrument sales, selling three of its new series of instruments in the quarter ending Dec. 31, 2000.
Among the uses of the recently placed systems are high-throughput, quality-control based analysis of various DNA products,
as well as high- throughput binding/activity studies of drug candidate-target systems, where the drug candidates may be
protein-based, synthetic compounds or derived from natural resources (plants, animals, bacteria, etc.).
Dr. Thomas Kane, senior scientist at SpectruMedix said, ``SpectruMedix has begun to break the mold of traditional genetic
analysis instrumentation. We believe there are a number of significant markets that are not being served by our competitors,
either because of the inadequacy of the underlying technologies or because the companies in question have not expended the
necessary effort to make these applications work. We are very excited by the opportunity to fill these niches, and these latest
sales bear witness to the acceptance of our technologies for these novel applications.''
The SCE9610 System features high-throughput, cost-cutting sequencing capabilities, which is designed for handling a range of
mutation screening, fragment analysis and genotyping applications in both the research and clinical arenas. The SCE9610
represents a major improvement over slab-gel methodology by making the process highly automated, efficient and economical.
It also offers additional features not offered by competing instrumentation.
The HTS9610 is designed to enhance productivity in the pharmaceutical industry. This novel system employs the capillary zone
electrophoresis (CZE) process and is capable of simultaneously separating and analyzing up to 96 drug-screening samples,
including proteins, (e.g. enzymes and antibodies), peptides and drug candidates, in fewer than 10 minutes.
``Efficiency, adaptability, utility, consumer compatibility and flexibility are the hallmarks of our success. We are a company that
thrives on working with our customers for their full satisfaction. Not only do our versatile and robust machines perform a large
number of diverse applications, but also we will work closely with our customers to meet their application needs in a timely
manner,'' said Dr. Joseph Adlerstein, president and CEO of SpectruMedix.
SpectruMedix is a U.S. company focused on the commercialization and sales of two principal products, 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 United States Department of Energy's Ames Laboratory, which is operated by Iowa State University's Institute for Physical
Research and Technology. In addition, a result of initial research conducted at the University of Pennsylvania Medical Center in
Philadelphia, the Company is involved in the development of instrumentation and methodology to rapidly and accurately
diagnose all pulmonary diseases as well as assess and monitor pulmonary function in order to optimally treat such patients.
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 Corp.
from market guide:
SpectruMedix Corp. devotes substantially all of its resources and efforts to the commercialization, marketing and sale of its two principal products, its high-speed DNA sequencing instrumentation that facilitates the acquisition, analysis and management of complex genetic information, and its high throughput screening, massive parallel capillary electrophoresis system (the HTS-MPCE system), a high throughput system based on the technologies developed for its DNA sequencer, used in the pharmaceutical industry for drug discovery. The Company's DNA sequencer was developed in part from research efforts conducted at the United States Department of Energy's Ames Laboratory, which is operated by Iowa State University's Institute for Physical Research and Technology.
In May 1995, the Company entered into an agreement with Iowa State University Research Foundation (ISURF), an affiliate of Ames Laboratories. Under that agreement, the Company received an option to acquire an exclusive worldwide license to technology for the commercial development of the DNA sequencer developed at ISURF. The Company has completed development of its DNA sequencer and has models available for the commercial market.
In June 1997, the Company exercised its option for the ISURF technology and entered into an exclusive, worldwide licensing agreement. On July 30, 1999, the Company amended the license agreement to require itself to pay $500,000 to ISURF, in exchange for which ISURF waived any defaults for the Company's past failure to make required payments. The amended agreement also provided for a revised schedule of minimum royalties. In addition, ISURF allowed the Company to grant a sublicense to The Perkin-Elmer Corporation, now known as PE Biosystems, in exchange for a portion of the royalties the Company received from PE Biosystems and a phantom stock award equal to 150,000 shares of its common stock. Concurrently with the restructuring of its license agreement, the Company granted PE Biosystems an exclusive sublicense to use certain patents for DNA sequencing machines, with the sublicense limited to machines using 30 or fewer capillaries and side entry illumination. The Company also granted PE Biosystems a right of first refusal to sublicense this technology to develop DNA sequencing machines using more than 30 capillaries.
HTS-MPCE System
The HTS-MPCE system, the Company's model number HTS9610, has been developed to perform 96 parallel analytical separations simultaneously in individual capillaries. Each capillary is the equivalent of a single-column instrument. The combination of massive multiplexing, high separation efficiency, fast analysis time, full automation, sensitive detection and spectrometric capability makes the HTS9610 a highly suitable analytical platform for high-throughput pharmaceutical applications.
During each analysis, the instrument introduces 96 samples simultaneously from a standard 96-well microtiter tray. The instrument automatically processes up to six sample trays without operator intervention. Additionally, the instrument may run any of the 96-well trays repeatedly at pre-determined intervals to provide time-resolved measurements for kinetic studies.
The system is based on technology developed for the DNA sequencer and employs on-column laser excitation and a charged-coupled device (CCD) detector to simultaneously record fluorescence signal from all capillaries. The efficient optical design produces a robust detection system. Multi-wavelength detection is implemented with a miniaturized spectrometer. The instrument is capable of performing size separation for mutation screening and protein analysis by filling capillaries with a replaceable polymer solution. With a minor upgrade, the instrument is also capable of capillary zone electrophoresis for protein/peptide and other small molecule separations.
The HTS-MPCE system incorporates an alternative type of separation process known as capillary zone electrophoresis. In capillary zone electrophoresis, the capillaries are filled with salt water, a conductive medium that facilitates the separation of charged analyte molecules across an electric field, rather than a gel. The system is capable of simultaneously separating and analyzing, in less than 10 minutes, the components in 96 individual drug screening assay samples such as proteins, including enzymes and antibodies, peptides and drug candidates. In a 24-hour cycle, the HTS-MPCE system is capable of automatically analyzing over 12,000 samples.
DNA Sequencing Instrumentation
The primary commercially available, semi-automated DNA sequencer, the ABI377, is manufactured by PE Biosystems. This slab gel-based technology is capable of running 96 lanes of DNA samples of 400 to 450 bases in four hours. Based on discussions with scientists who use the ABI377, it is labor-intensive for gel and sample preparation, and requires highly skilled operators. In addition, the ABI377 allows only a single run of 96 lanes, after which the instrument must be reset. In early 1999, PE Biosystems released a new 96-capillary DNA sequencer, the ABI Prism 3700 DNA Analyzer, and PE Biosystems has reported significant sales for this product.
The Company also manufactures and sells mass spectrometers and Luminoscopes. Historically, the Company has not been able to generate significant sales of these products. As a result, the Company has shifted its focus to the commercialization of the DNA sequencer. However, the Company may continue to make limited sales of its mass spectrometers and Luminoscopes.
The Company's competitors include other manufacturers of DNA sequencing machines such as Molecular Dynamics, Incorporated. |
