Luminex Awarded Grant to Develop DNA Technology
AUSTIN, Texas--(BUSINESS WIRE)--Oct. 7, 1998--Luminex Corporation announced today that it has been awarded a grant from the National Institute of Standards and Technology (NIST) to develop a next-generation array technology for DNA analysis.
Luminex will develop this technology with Axys Pharmaceuticals Inc. (NASDAQ:AXPH) of South San Francisco, Calif. The technology will synthesize and analyze up to one million different DNA strands attached to fluorescently addressable microscopic beads (microspheres). The grant is the third-largest ever awarded in the Tools for DNA Diagnostics Competition under the Advanced Technology Program (ATP). Over three years, the grant will fund approximately 49% of the projected $15 million cost.
Dr. Mark Chandler, president and CEO of Luminex, said, "We are very excited that yet another powerful application of Luminex technology has been identified. In cooperation with Axys, the successful completion of this project will greatly expand the capabilities of our open platform."
Luminex will contribute chemistry, instrumentation and software expertise in multiplexed microsphere analysis. Axys will contribute expertise in DNA synthesis, biochemistry optimization and data management software.
Luminex Corporation, a privately-held biotechnology company, is focused on the pharmaceutical, clinical and research markets where the need to analyze multiple molecular interactions simultaneously is well-established. FlowMetrix(R), a multiplexing technology that addresses this need in a cost-effective manner, is currently in use at pharmaceutical, clinical and research laboratories. Luminex is continuing to enhance this technology platform utilizing both internal development and collaborative partnerships. For more information, visit the Luminex Web site at luminexcorp.com.
Axys Pharmaceuticals is a leader in the integration of life science technologies with a focus on transforming gene discoveries into drugs. The company has research collaborations with world-class pharmaceutical companies covering a broad range of therapeutic areas, including respiratory, cardiovascular, and infectious disease, as well as oncology and central nervous system disorders. Axys Pharmaceuticals is headquartered in South San Francisco, Calif. For more information, visit the Axys Web site at axyspharm.com.
NIST is an agency of the U.S. Department of Commerce's Technology Administration. NIST's mission is to promote U.S. economic growth by working with industry to develop and apply technology measurements and standards. For more information visit the NIST-ATP Web site at atp.nist.gov.
CONTACT:
Luminex Corporation, Austin
Ralph McDade or Scott Combs, 512/219-8020
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