Based on today's (9/14) press release (see below), SMDX seems worth a look. Market cap is a bit over $5 million (yes, that $5 million is no typo) which is what PE Biosystems invested in SMDX last year. Anyone else follow SMDX?
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., Sept. 14 /PRNewswire/ -- SpectruMedix Corporation (OTC Bulletin Board: SMDX - news) 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 |
