|[April 05, 2012]
GenMark and Advanced Liquid Logic Enter into Agreement to Develop an All-Electronic Fully Integrated Diagnostic Platform
CARLSBAD, Calif. --(Business Wire)--
GenMark Diagnostics, Inc., (NASDAQ: GNMK) and Advanced Liquid Logic,
Inc. (ALL) announced today that they have entered into a Heads of
Agreement defining the key terms of a collaboration to develop an
all-electronic, fully integrated in-vitro diagnostic platform bringing
together ALL's proprietary electrowetting technology and GenMark's
proprietary electrochemical detection.
"This partnership will allow us to leverage both companies' unique
technologies and know-how, to deliver a digital sample-to-answer
in-vitro diagnostic platform," said Hany Massarany, President and CEO of
GenMark Diagnostic. "Our initial focus on multiplex molecular testing
will be followed by efforts in other areas of diagnostics including
protein detection and point-of-care testing, as we redefine industry
standards for performance, reliability and ease of use with even the
most complex of assays."
"We are excited to be working with the GenMark team and technology,"
said Richard West, President and CEO of Advanced Liquid Logic. "We bring
a unique capability in comprehensive, electronically-driven sample
preparation and we expect that it will integrate well with GenMark's
eSensor® detection technology. This further validates that the
fluid-handling flexibility of our platform can be integrated with
multiple types of detection for a wide range of applications."
About GenMark Diagnostics, Inc.
GenMark Diagnostics is a leading provider of automated, multiplex
molecular diagnostic testing systems that detect and measure DNA and RNA
targets to diagnose disease and optimize patient treatment. Utilizing
GenMar's proprietary eSensor® detection technology, GenMark's eSensor®
XT-8 system is designed to support a broad range of molecular diagnostic
tests with a compact, easy-to-use workstation and self-contained,
disposable test cartridges. GenMark currently markets three tests that
are FDA cleared for IVD use: Cystic Fibrosis Genotyping Test, Warfarin
Sensitivity Test, and Thrombophilia Risk Test. A Respiratory Viral Panel
(RVP) has been submitted to the FDA for 510(k) clearance. A number of
other tests, including HCV Genotyping and 2C19, versions of which are
available for research use only, and KRAS, are in development for IVD
use. For more information, visit www.genmarkdx.com.
About Advanced Liquid Logic, Inc.
Advanced Liquid Logic is pioneering the next generation of microfluidics
- Digital Microfluidics - with easy-to-use, cost-effective products in
newborn screening and genomics sample preparation. Advanced Liquid
Logic, a rapidly growing and profitable, privately-held company, also
has products in development addressing in-vitro diagnostics and other
markets. The Company's proprietary Digital Microfluidics enables precise
and flexible manipulation of microdroplets using electrical fields.
Advanced Liquid Logic is headquartered in Durham, NC with additional
facilities in Grenoble, France. For more information please visit www.liquid-logic.com
SAFE HARBOR STATEMENT
This press release includes forward-looking statements regarding events,
trends and business prospects, which may affect our future operating
results and financial position. Such statements, including, but not
limited to, those regarding continued growth in sales of our diagnostic
tests, the expansion of our diagnostic test menu, the development and
functionality of our products and the continued development of our
technology, are all subject to risks and uncertainties that could cause
our actual performance, operating results and financial position to
differ materially. Some of these risks and uncertainties include, but
are not limited to, risks related to our history of operating losses,
our ability to successfully commercialize our products, the need for
further financing and our ability to access the necessary additional
capital for our business, inherent risk and uncertainty in the
protection intellectual property rights, ability to maintain gross
margins, regulatory uncertainties regarding approval or clearance for
our products, as well as other risks and uncertainties described under
the "Risk Factors" in our public filings with the Securities and
Exchange Commission. We assume no responsibility to update or revise any
forward-looking statements to reflect events, trends or circumstances
after the date they are made.
[ Back To TMCnet.com's Homepage ]