Luminex Corporation Announces Market Release of Pneumococcal Assay
24 October 2006 - 9:59AM
PR Newswire (US)
AUSTIN, Texas, Oct. 23 /PRNewswire-FirstCall/ -- Luminex
Corporation (NASDAQ:LMNX), a leading multiplex solution developer,
today announced the market release of its pneumococcal assay,
developed by the Luminex Bioscience Group (LBG). Luminex created
the LBG in 2005 as a response to market demand for multiplexed
solutions in emerging bio-assay applications. The LBG's goal is to
identify key assay development opportunities and provide effective
solutions to both Luminex partners and xMAP(R) customers. The
Luminex Pneumococcal Assay was developed utilizing the benefits of
Luminex's multiplexing xMAP platform. The assay has been designed
to multiplex the fourteen (14) commonly requested serotypes in a
single reaction vessel and can be used on the existing installed
base of Luminex instrumentation. According to the CDC,
Streptococcus pneumoniae (pneumococcus) is the leading cause of
invasive bacterial disease in children and it is responsible for
more child deaths than any other pathogen. Several available
vaccines have had a significant impact on the incidence of
pneumococcal disease. Before and after vaccination, physicians
routinely order pneumococcal antibody screening assays to evaluate
the levels of protected immunity of a patient. Patrick J. Balthrop,
president and chief executive officer of Luminex, stated, "We are
extremely pleased to announce the availability of this multiplexed
pneumococcal assay to our customers. The commercial launch of this
assay represents a major milestone for the Luminex Bioscience Group
and demonstrates our capability to deliver assay product solutions
in response to unmet needs in the life sciences market." 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 already in use in leading research laboratories as
well as major pharmaceutical, diagnostic and biotechnology
companies. Luminex's xMAP technology received the 2005 Clinical
Diagnostics Technology of the Year Award from Frost & Sullivan.
The Company was named in the 2005 Deloitte Fast 500 of
fastest-growing technology 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, concentration of the Company's
revenue in a limited number of strategic partners, fluctuations in
quarterly results due to a lengthy and unpredictable sales cycle
and bulk purchases of consumables, Luminex's ability to scale
manufacturing operations and manage operating expenses, gross
margins and inventory levels, potential shortages of components,
competition, the timing of regulatory approvals, the
implementation, including any modification, of the Company's
strategic operating plans, risks and uncertainties associated with
implementing our acquisition strategy and the ability to integrate
acquired companies or selected assets into our consolidated
business operations, as well as the risks discussed under the
heading "Risk Factors" in Luminex's Reports on Forms 10-K and 10-Q,
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. Luminex Corporate Contact:
Harriss T. Currie Vice President, Finance and Chief Financial
Officer Luminex Corporation 512-219-8020 Luminex Media Contact: Amy
Seigenthaler Pierce Executive Vice President Seigenthaler Public
Relations 615-327-7999 DATASOURCE: Luminex Corporation CONTACT:
Harriss T. Currie, Vice President, Finance and Chief Financial
Officer of Luminex Corporation, +1-512-219-8020, or ; or Amy
Seigenthaler Pierce, Executive Vice President of Seigenthaler
Public Relations, +1-615-327-7999, or Web site:
http://www.luminexcorp.com/
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