this is from last Nov..a few months back...something to keep in mind:
STATE COLLEGE, Pa., Nov. 15 /PRNewswire/ --
SpectruMedix Corporation (OTC Bulletin Board: SMDX) has received a grant from
the National Human Genome Research Institute of the National Institute of
Health to further develop and test its 384-capillary DNA sequencing
instrument. The grant provides for the reimbursement of up to $700,000 of
direct research and development expenses plus an additional amount for
indirect expenses.
SpectruMedix received the grant as part of the NHGRI's movement to support
the development of advanced high-throughput technologies for genomic research.
The NHGRI, in partnership with other organizations, is involved in the "Human
Genome Project."
Dr. Jeffrey A. Schloss, program director for Technology Development
Coordination for the NHGRI at the NIH, outlined the Human Genome Project's
highest priority as, "providing a complete, high-quality sequence of human
genomic DNA to the research community as a freely, publicly available
resource."
Dr. Schloss said the project aims to "develop technologies for and collect
information leading to the full interpretation and use of that sequence."
Technology for high-throughput analysis at a reduced cost can make
reaching those goals possible. SpectruMedix's development of a 384-capillary
sequencing instrument is a significant step toward meeting those goals.
According to SpectruMedix, the instrument will produce accurate results at a
substantially greater volume in a considerably shorter amount of time at an
almost 50% cost savings. SpectruMedix's target is to achieve 1,000 base reads
in fewer than two hours.
Dr. Qingbo Li, principal investigator and senior scientist at SpectruMedix
said, "I am extremely pleased that SpectruMedix has been awarded this funding.
It represents recognition from the genomics community of SpectruMedix's
position in developing high-throughput DNA sequencing technology. This
program will produce the most reliable, fully automated 384-capillary DNA
instrument system on the DNA market. It will also make available to both the
genomics community and the pharmaceutical industry, the first-of-its-kind,
integrated analytical platform for several other very high-throughput
screening applications. And all of this with remarkable cost savings."
SpectruMedix's SCE9610 system, which employs 96 capillaries in a highly
versatile, robust, reliable and economical instrument system, is already in
commercial use.
"This award reaffirms SpectruMedix's position as a major presence in the
genomics research arena. We are delighted to be recognized and called upon by
the NIH to further its work in completing reference human DNA sequences --
something the world has been anxiously awaiting for years," said Dr. Joseph
Adlerstein, 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 Corporation
Web Site: spectrumedix.com |
