Zaxis International Inc. Sees Potential Supply Increase Tied to FDA Approval of Visible Genetics TRUGENE(TM) HIV-1 GENOTYPING KIT
Is ZAXS on the way back to its 52-wk high of $4 or will it be taken out by VGIN before then ??
Progen (PGLAF) owns 10.77% of ZAXS. A former director of PGLAF owns another 8.63%
biz.yahoo.com
HUDSON, Ohio--(BUSINESS WIRE)--Sept. 14, 2000--Zaxis International Inc. (OTCBB:ZAXS - news) announced today
that one of its major customers, Visible Genetics Inc. (VGI) (Nasdaq:VGIN - news) filed a submission on September 5th with
the United States Food and Drug Administration for its TRUGENE(TM) HIV-1 Genotyping Kit and the OpenGene(TM) DNA
sequencing system. Zaxis supplies Visible Genetics with prep-packaged polyacrylamide gel, marketed by VGI under the trade
name SureFill(TM), for use in its DNA sequencing applications. Zaxis has supplied approximately 20,000 SureFill(TM) units to
VGI to date. ``We are pleased at the successful collaborative effort between our two companies in developing a quality product
like SureFill(TM),'' stated Richard T. Daly, President and CEO of Visible Genetics Inc. If and when VGI receives FDA's final
clearance, Zaxis anticipates demand for SureFill(TM) units may increase dramatically.
The Visible Genetics TRUGENE(TM) HIV-1 kit is used to sequence genes in a patient's HIV virus. Mutations in these genes
can make the virus resistant to certain drugs and by providing the physician with information on the mutations present in a
particular patient, the physician can then prescribe an appropriate drug regimen to combat the virus. This same technology is
applicable for other diseases and VGI is currently developing, or is selling research kits for hepatitis C, hepatitis B, tuberculosis,
HLA and certain cancer genes. All of these kits require the use of the SureFill(TM) units supplied by Zaxis, to perform the
DNA sequencing.
Electrophoresis is the proven method for protein separation and purification and serves as a fundamental step in the process of
identifying disease states and developing drugs and diagnostic tests. Zaxis is a premier formulator and manufacturer of high
quality pre-cast polyacrylamide gels (PAGE), which offer the scientist a consistent, reliable and highly reproducible medium in
which to perform their protein separation and purification procedures. ``To date, we have concentrated our efforts on becoming
the primary supplier of pre-cast PAGE gels for instrument and diagnostic kit manufacturers like Visible Genetics,'' said John
Hrobsky, President and CEO of Zaxis. ``We take very seriously our responsibility to provide the highest quality, most
consistent and reliable gel possible because we realize its fundamental importance in the diagnostic and product development
process. Our relationship with VGI has been very rewarding and we look forward to a long and mutually beneficial relationship.
Up to this point, we have been supplying enough product to meet VGI's requirements during their clinical trials, however we see
the potential for a significant increase in demand if VGI receives final FDA clearance for their genotyping kit. Our ability to
manufacture the standard line of PAGE protein gels and our proprietary technology and expertise in producing custom designed
gels, makes us an appealing OEM or private label source of supply for the kit and instrument manufacturers who require
traceability and a documented manufacturing procedure.''
The rapid growth in protein separation and purification procedures expected from the pharmacogenomics market provides an
increased opportunity for Zaxis products. Pharmacogenomics is the application of genotyping to patient therapy and offers the
possibility of addressing the problem of different patient responses to drug treatments. In the future, it may become standard
medical practice to individualize drug treatment regimens based on the results of a patient's drug-resistance testing. The
insurance industry may be especially interested because of the potential cost savings realized by the ability of physicians to
prescribe drug treatment plans that have a much higher probability of providing a successful outcome for the individual patient.
In some cases reimbursement levels for these tests have already been established, indicating an existing interest on the part of
the reimbursement community.
Zaxis is the leader in the formulation and manufacture of pre-cast polyacrylamide gels for protein separation and purification
procedures including DNA sequencing. The Company's proprietary formulation and manufacturing techniques, combined with
the use of disposable glass cassettes, provides the highest resolution, separation and band counts available today. Zaxis
provides a reliable source of supply for standard and custom PAGE gels to the manufacturers and distributors of diagnostic kits
and DNA sequencing instruments and to other customers, who require a documented and highly controlled manufacturing
process. In addition to standard protein gels, the Company produces the industry's only pre-cast PAGE gel with a six-month
shelf life, the Z-Quence(TM) DNA sequencing gel.
For more information about Zaxis and its products, please visit our website at www.zaxis-inc.com or call us at 877.246.8665.
This press release contains forward-looking statements within the meaning of the ``safe-harbor'' provisions of the Private
Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks, uncertainties and other factors,
which may cause the Company's results to differ materially from expectations. These risks and uncertainties include, but are not
limited to, certain market risks, the ability of Zaxis International to develop and commercialize the products that are subject to
this program and other risks and uncertainties in the Company's Securities and Exchange filings. |
