CRUTTENDEN ROTH HEALTHCARE CONFERENCE, NEW YORK, May 19 /PRNewswire/ --
BioStar, Inc. (``BioStar'' or the ``Company'') a privately held clinical
diagnostics company based in Boulder, Colorado, is a pioneer in the
development, manufacture and selling of rapid point-of-care (``POC'')
detection tests for various infectious diseases based on a proprietary
and enabling technology platform. The Company's technology, called
Optical ImmunoAssay (``OIA(R)''), enables tests to be conducted near the
patient, with results delivered within minutes at sensitivity levels
equivalent or superior to those of routine culture methods.
The Company's current products are used to detect Group A Streptococcus,
Group B Streptococcus and Chlamydia and are sold in the U.S. and
internationally. Several other tests under development include
influenza, gonorrhea and urine Chlamydia, all of which address POC,
human health diagnostic applications where immediate and highly accurate
results are key to patient, provider and payor savings.
OIA is a detection platform significantly more sensitive than other
available detection methods. The technology has wide applicability over
a variety of specimens, as well a variety of analytes. BioStar's
detection system consists of both qualitative (visual or instrumented)
and quantitative Instrumentation methods.
BioStar has collaborations which strengthen its marketing efforts and
provide further validation of the OIA technology. In 1995, the National
Institute of Health awarded BioStar a grant to fund a Chlamydia test
which uses urine as a sample source. In September 1995, the Company
signed a licensing agreement with International Murex Technologies
giving Murex an exclusive license to distribute BioStar's Strep A and
Strep B to non-POC testing settings including clinical, reference and
hospital laboratories in North America. In January 1996, Biota Holdings
Ltd., an Australian company, selected BioStar to develop a rapid test
for influenza using its OIA technology platform. The test will be used
with the influenza drug Biota is currently developing with its marketing
partner, Glaxo Wellcome PLC and will be available in all markets where
Glaxo sells the drug. In addition, BioStar recently expanded its
presence in Europe by forming a marketing and distribution agreement
with a leading French diagnostics company for rapid testing of
Chlamydia.
The Company is funded by several leading venture capital firms. To
provide additional capital to fund more rapid growth, the Company is
seeking partners to help it develop and market products based upon OIA
technology in other human health segments as well as areas beyond human
health, such as food and beverage, agriculture and veterinary tests.
SOURCE: BioStar Inc. |
