Looks like SMDX is on a roll. First Vogelstein's oncology lab and now another sale to a seed company.
SMDX's market cap is still under $7 million.
Wednesday October 4, 12:40 pm Eastern Time
Press Release
SOURCE: SpectruMedix Corporation
SpectruMedix Corp. Ships SCE9610 System to Major European Seed Company Svalof Weibull AB
STATE COLLEGE, Pa., Oct. 4 /PRNewswire/ -- SpectruMedix Corporation (OTC Bulletin Board: SMDX - news) has sold its SCE9610 Genetic Analysis System to Svalof Weibull AB, an international plant breeding company engaged in varietal development, production and marketing of canola, peas, cereals, forage crops and potatoes.
Based in Sweden, Svalof Weibull is one of the major seed companies in Europe. It has a broad base of breeding lines and holds a leading position in the world with its spring oilseed rape varieties.
``I am delighted by the dual aspects of this transaction: the sale of the SCE9610 to Svalof Weibull not only expands our presence to the international arena, but into the plant-breeding marketplace, as well. This is a robust, highly reliable, fully automated system designed to make labs more efficient and provide high quality data -- whether it's analyzing human genes or plant genes,'' said Dr. Joseph Adlerstein, CEO of SpectruMedix Corp.
Svalof Weibull sells seeds to farmers -- but before they can be sold, the company needs to be certain of the product's homogeneity. Purity of the seed lines is determined by quality assurance procedures at the company's research and development Nilsson-Ehle Laboratory using proprietary molecular markers. In order to screen the large amount of material required, this process needs to be, and is, highly automated. The integration of the SCE9610 system into the lab will enable and enhance this automation.
Christophe Dayteg of Svalof Weibull said he expects the implementation of the SCE9610 will increase the analysis ability to about 5,000 samples per day -- almost three times the laboratory's current throughput.
``Svalof Weibull chose the SCE9610 system because it is the most easily integrated and adapted into their fully automated, robotic sample preparation system,'' said Dr. Thomas Kane, director of technology commercialization for SpectruMedix Corp.
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. SpectruMedix is also 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.
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 |
