Hi Clappy,
you are into Bio's what do you think of this new issue?
Company Description (COPIED FROM EDGAR)
Luminex Corporation has developed, manufactures and markets a proprietary technology platform that simplifies
biological testing for the life sciences industry. This industry depends on a broad range of tests, called bioassays, to
discover new drugs, identify new genes or simply monitor blood cholesterol levels. The LabMAP system is able to
simultaneously perform up to 100 bioassays on a single drop of fluid. This is accomplished with a compact instrument,
the Luminex 100, that reads biological tests taking place on the surface of microscopic plastic beads called
microspheres. The Luminex 100 combines this miniaturized bioassay capability with diode lasers, digital signal
processors and proprietary software to create a system offering significant advantages in speed, precision, flexibility
and cost. We believe our LabMAP technology is broadly applicable in the fields of drug discovery, clinical
diagnostics, genetic analysis, biomedical research and pharmacogenomics.
We began marketing the current generation of LabMAP in 1999. As of January 31,2000, 63 life sciences customers
have purchased 100 LabMAP systems. Our customers include GlaxoWellcome plc, SmithKline Beecham
Corporation, Eli Lilly & Company, Laboratory Corporation of America, Genentech Inc., Abbott Laboratories, Life
Technologies Inc., Bio-Rad Laboratories, Inc., Lawrence Livermore National Laboratories, Mayo Clinic, Centers for
Disease Control and Prevention and National Institutes of Health.
OUR MARKET OPPORTUNITY
Bioassays are used extensively throughout the life sciences industry to detect the presence of certain biochemicals,
proteins or genes in a sample. They are broadly used in drug discovery, genetic analysis, pharmacogenomics, clinical
diagnostics and general biomedical research. For example, bioassays can be used to:
.measure the affinity between a chemical compound and a disease target for drug discovery and development;
.assist physicians in prescribing the appropriate drug therapy to match the patient's unique genetic makeup, a process
known as pharmacogenomics;
.detect genetic variations, such as single nucleotide polymorphisms or SNPs;
and
.measure the presence and quantity of biochemicals in blood to assist physicians in diagnosing, treating and monitoring
pathological conditions such as heart attack or diabetes.
Bioassays are either developed internally to meet the specific needs of the laboratory or purchased in the form of an
off-the-shelf test kit or customized service. According to industry reports, the global market for tools used to develop
and perform bioassays is estimated to have been approximately $27.5 billion in 1998 and is expected to grow at an
annual rate of 8%. There are a number of factors contributing to this increase, including:
.increased research and development spending by pharmaceutical and biomedical research companies;
.a shift in research and development focus from gene sequencing to functional genomics and proteomics;
.increased demand for disease-specific diagnostic tests;
.application of disease targets from drug discovery into in vitro diagnostics;
and
.evolution of pharmacogenomics.
The differing bioassay needs of life sciences laboratories have led to the development of specialized techniques and
instrumentation. As a result, most of these laboratories have become highly compartmentalized. For example, clinical
testing facilities are organized into functional groups, such as chemistry, microbiology, immunology and serology.
Similarly, pharmaceutical laboratories are separated by disease target, such as cancer and hypertension, as well as by
the stages of the drug discovery process, from initial bioassay development to toxicology. This has created
inefficiencies in laboratories since they must now purchase multiple instruments, often from different vendors, to meet
their testing needs. This limits the laboratories' ability to standardize bioassay techniques, operator training and
hardware maintenance.
THE LUMINEX SOLUTION
Our solution is to provide a single platform, the LabMAP technology, that can perform a wide range of bioassays in a
cost-effective manner. The key features of our platform include the following:
.performs multiple tests simultaneously;
.flexible in customizing bioassays comprised of multiple tests;
.high throughput;
.ease of use; and
.low cost to purchase and operate.
OUR STRATEGY
Our goal is to establish our LabMAP system as the industry standard for performing bioassays. To achieve this goal,
we have implemented the following strategy:
.focus on large, fast-growing segments of the life sciences industry;
.continue to develop strategic partnerships to broaden and accelerate market acceptance of our LabMAP technology;
.provide an open platform that allows customers to design bioassays using a single platform;
.expand the functionality of the LabMAP product line; and
.allow easy technology access to encourage rapid market adoption.
THE FOREGOING DOES NOT REPRESENT AN OFFER TO BUY OR SELL THE SECURITES OF THIS
OR ANY CORPORATION AS THE OFFERING IS MADE BY PROSPECTUS ONLY |
