Luminex Corporation Receives Research Grant from the Department of the Army
26 July 2006 - 4:02AM
PR Newswire (US)
Research Will Employ the Company's Chip-Scale xMAP Technology
AUSTIN, Texas, July 25 /PRNewswire-FirstCall/ -- Luminex
Corporation (NASDAQ:LMNX), a leading multiplex solution developer,
today announced that the Company has received a research grant from
the Defense Advanced Research Projects Agency (DARPA), which will
be administered through the Department of the Army's U.S. Army
Research Office. The $300,000 research grant covers a 12- month
period and will focus on developing the Company's emerging
chip-scale xMAP(R) technology for bio-defense applications. The
chip-scale concept is a radically new approach that leverages
Luminex's proven flagship xMAP technology, which is a bead-based
flow cytometry solution for multiplexing biological assays, to
perform the detection of bio-pathogens on the scale of a
micro-chip. Dr. John Carrano, vice president of research and
development of Luminex Corporation, stated, "A successful and
practical solution for bio-sensors to combat terrorism will require
a compact, and relatively inexpensive detector capable of doing
species identification with high sensitivity and specificity; that
is precisely the goal of the chip-scale xMAP technology project."
Commenting on the announcement, Patrick Balthrop, president and
chief executive officer of Luminex Corporation, added, "We are very
pleased to have been awarded this initial grant by DARPA, which
will enable us to leverage our state-of-the-art technology and
increase our market awareness within the government sector. This
opportunity will also make Luminex more competitive for future
research grants that utilize our systems and technology." About
Luminex Luminex Corporation develops, manufactures and markets
proprietary biological testing technologies with applications
throughout the life sciences industry. The Company's xMAP(R) system
is an open-architecture, multi-analyte technology platform that
delivers fast, accurate and cost-effective bioassay results to
markets as diverse as pharmaceutical drug discovery, clinical
diagnostics and biomedical research, including the genomics and
proteomics research markets. The Company's xMAP technology is sold
worldwide and is in use in leading research laboratories as well as
major pharmaceutical, diagnostic and biotechnology companies.
Further information on Luminex Corporation or xMAP can be obtained
on the Internet at http://www.luminexcorp.com/. Statements made in
this release that express Luminex's or management's intentions,
plans, beliefs, expectations or predictions of future events are
forward-looking statements. The words "believe," "expect,"
"intend," "estimate," "anticipate," "will," "could," "should" and
similar expressions are intended to further identify such
forward-looking statements for purposes of the Private Securities
Litigation Reform Act of 1995. It is important to note that the
Company's actual results or performance could differ materially
from those anticipated or projected in such forward-looking
statements. Factors that could cause Luminex's actual results or
performance to differ materially include risks and uncertainties
relating to, among others, market demand and acceptance of
Luminex's products, the Company's dependence on strategic partners
for development, commercialization and distribution of products,
fluctuations in quarterly results due to a lengthy and
unpredictable sales cycle, Luminex's ability to scale manufacturing
operations, potential shortages of components, competition, the
timing of regulatory approvals and any modification of the
Company's operating plan in response to its ongoing evaluation of
its business, as well as the risks discussed under the heading
"Risk Factors" in Luminex's Annual Report on Form 10-K for the year
ended December 31, 2005, as filed with the Securities and Exchange
Commission. The forward-looking statements contained herein
represent the judgment of Luminex as of the date of this press
release, and Luminex expressly disclaims any intent, obligation or
undertaking to release publicly any updates or revisions to any
forward-looking statements to reflect any change in Luminex's
expectations with regard thereto or any change in events,
conditions or circumstances on which any such statements are based.
Contact: Harriss T. Currie Vice President, Finance and Chief
Financial Officer 512-219-8020 DATASOURCE: Luminex Corporation
CONTACT: Harriss T. Currie, Vice President, Finance and Chief
Financial Officer of Luminex Corporation, +1-512-219-8020, or Web
site: http://www.luminexcorp.com/
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