this is one of my favorite high risk/high reward plays for this year...4.6m outstanding (yahoo mrq) and trading around a buck...high vol today on this release:
(COMTEX) B: SpectruMedix Corp. Reports Rise in Instrument Sales
B: SpectruMedix Corp. Reports Rise in Instrument Sales
STATE COLLEGE, Pa., Jan 12, 2001 /PRNewswire via COMTEX/ -- SpectruMedix Corp.
(OTC Bulletin Board: SMDX) reports an increase in the pace of instrument sales,
selling three of its new series of instruments in the quarter ending Dec. 31,
2000.
Among the uses of the recently placed systems are high-throughput,
quality-control based analysis of various DNA products, as well as high-
throughput binding/activity studies of drug candidate-target systems, where the
drug candidates may be protein-based, synthetic compounds or derived from
natural resources (plants, animals, bacteria, etc.).
Dr. Thomas Kane, senior scientist at SpectruMedix said, "SpectruMedix has begun
to break the mold of traditional genetic analysis instrumentation. We believe
there are a number of significant markets that are not being served by our
competitors, either because of the inadequacy of the underlying technologies or
because the companies in question have not expended the necessary effort to make
these applications work. We are very excited by the opportunity to fill these
niches, and these latest sales bear witness to the acceptance of our
technologies for these novel applications."
The SCE9610 System features high-throughput, cost-cutting sequencing
capabilities, which is designed for handling a range of mutation screening,
fragment analysis and genotyping applications in both the research and clinical
arenas. The SCE9610 represents a major improvement over slab-gel methodology by
making the process highly automated, efficient and economical. It also offers
additional features not offered by competing instrumentation.
The HTS9610 is designed to enhance productivity in the pharmaceutical industry.
This novel system employs the capillary zone electrophoresis (CZE) process and
is capable of simultaneously separating and analyzing up to 96 drug-screening
samples, including proteins, (e.g. enzymes and antibodies), peptides and drug
candidates, in fewer than 10 minutes.
"Efficiency, adaptability, utility, consumer compatibility and flexibility are
the hallmarks of our success. We are a company that thrives on working with our
customers for their full satisfaction. Not only do our versatile and robust
machines perform a large number of diverse applications, but also we will work
closely with our customers to meet their application needs in a timely manner,"
said Dr. Joseph Adlerstein, president and CEO of SpectruMedix.
SpectruMedix is a U.S. company focused on the commercialization and sales of two
principal products, 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 United States Department of
Energy's Ames Laboratory, which is operated by Iowa State University's Institute
for Physical Research and Technology. In addition, a result of initial research
conducted at the University of Pennsylvania Medical Center in Philadelphia, the
Company is involved in the development of instrumentation and methodology to
rapidly and accurately diagnose all pulmonary diseases as well as assess and
monitor pulmonary function in order to optimally treat 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 Corp.
CONTACT: Joseph Adlerstein of SpectruMedix Corp., 814-867-8600
URL: spectrumedix.com
prnewswire.com
(C) 2001 PR Newswire. All rights reserved.
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KEYWORD: Pennsylvania
INDUSTRY KEYWORD: MTC
SUBJECT CODE: SLS
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