<font color=red>BARR Signs Development Agreement for Rapid Pathogen Detection
November 08, 2000 1:18:00 PM ET
WARREN, N.J.--(BUSINESS WIRE)--Nov. 8, 2000--Barringer Technologies Inc. BARR, the world's leading drug and explosives trace detection company, today announced that it has signed an agreement with Lipoxen Technologies, Ltd. of London, England for the development of a new technique for the rapid screening of pathogens. As previously announced, Barringer filed a patent application covering this concept on September 9, 2000.
As part of the agreement with Lipoxen, Phase I concept testing will begin immediately and will be completed by year end. Phase II will concentrate on optimization and specialization studies for a variety of food pathogens.
Stanley Binder, Chief Executive Officer of Barringer Technologies stated, "We are pleased to be working collaboratively with Lipoxen Technologies, the pioneering world leader in Liposome technology. Our ultimate objective is to develop and commercialize a detection technique, using our IONSCAN(R) detector and leading edge liposome technology. This method, when perfected, is expected to detect pathogens in food, water and/or air in real time. If successful, this technique would not only have a revolutionary impact on the food processing industry, but among other industries as well. In addition, we believe this approach will provide the capability of quickly detecting a military or terrorist biological attack in a matter of seconds and also provide rapid post-attack identification."
Mr. Binder continued, "The agreement with Lipoxen further advances Barringer's entry in the life sciences field as we are already working with our IONSCAN(R) technology for the detection of pathogens through our agreement with the University of Connecticut. UCONN chose our technology to help detect bacterial species, such as Listeria, E. coli, and Serratia marcescens, which are typically found in pathogenic contaminants in food and water. We continue to explore and capitalize on opportunities within this market."
Mr. Binder concluded, "These new Life Science applications complement our existing core products and have given us considerable leverage not only in the bacteria detection market, but also in the pharmaceutical and specialty chemical industries and the chemical warfare market."
Lipoxen Technologies, Ltd. is a drug delivery company, based upon the world-renowned research of Professor Gregory Gregoriadis, Head of the Centre for Drug Delivery Research at the School of Pharmacy, University of London. Lipoxen possesses intellectual property and know-how in the area of general liposome technology, targeted delivery of DNA vaccines using liposomes, and polysialylation, a platform technology for the extension of the half-life of systemically delivered proteins, peptides and small molecules.
Headquartered in Warren, New Jersey, Barringer Technologies Inc. is the dominant provider of trace detection equipment for drug, explosive, and chemical detection for security and industrial applications. The Company is now entering Life Science markets through the development of new applications for its IMS Technology. The Sabre 2000(R), the IONSCAN(R), and the Sentinel(R) are the Company's proprietary trace particle drug and explosive detection units. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. When used in this press release, the words "estimate," "project," "believe," "anticipate," "intend," "expect," Splan," "predict," "may," "should," "will," the negative thereof and similar expressions are intended to identify forward-looking statements. Such statements reflect the current views of the Company with respect to future events based on currently available information and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements. Factors that could cause actual results to differ materially from the Company's expectations include, but are not limited to, the following: general economic and political conditions, unexpected difficulties in entering new markets, delays in market acceptance, uncertain demand for the company's products, competition and risks related to rapidly evolving technological developments, risks related to the Company's ability to successfully commercialize new applications and the timing thereof. Other factors may be described from time to time in the Company's public filings with the Securities and Exchange Commission, news releases and other communications. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company does not undertake any obligation to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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