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Accelr8 Technology Corporation (AXK) Plans to Grow in AZ; Aims to Hire 300 in the Next Few Years


8/17/2012 8:26:08 AM

TUCSON, Ariz., Aug. 16, 2012/PRNewswire/ -- After a competitive multi-state process, Accelr8 Technology Corporation (NYSE MKT: AXK) today announces that it is moving its headquarters from Denver, CO to Tucson, AZ.

Founded in 1982, Accelr8 develops instruments used for the detection of pathogenic microorganisms. Its BACcel rapid diagnostic system, in development, is the first technology that is able to count and identify dangerous pathogens and their drug resistance expression within the same day of obtaining a patient specimen, instead of the two to three days required for standard methods. This speed allows for a significant improvement in the treatment of the over 1.7 million people in the US who contract a hospital acquired infection each year, and access to a multi-billion dollar market.

Accelr8 has selected Tucson as best meeting its needs for future high-growth plans. Accelr8 will bring high-skilled, high-wage jobs to Southern Arizona with plans to fill 65 positions over the next three years and the potential to grow to 200-300 employees in subsequent years. Headquarter positions include engineers, scientists, sales/marketing, management, finance, quality/regulatory and manufacturing. The company will occupy approximately 15,000 square feet of space in Pima County's Herbert K. Abrams Public Health Center at 3950 S. Country Club Road. After a build out of wet lab space, the company is expected to be operational by early 2013.

"Accelr8 is developing a revolutionary product in the diagnostics area and we were impressed with the region's emerging bioscience strength, innovation and support that can help ensure our future success," said Lawrence Mehren, president and CEO, Accelr8 Technology Corporation.

"Accelr8 strengthens the biotechnology excellence our state has been building, while creating high-quality jobs for Arizonans," said Governor Jan Brewer. "I am grateful to the Arizona Commerce Authority, TREO and other regional partners whose excellence and creativity produced infrastructure solutions to secure Accelr8 for Arizona."

"We're thrilled to attract a publicly-traded headquarters in a key, targeted industry," said Joe Snell, president & CEO, TREO. "Accelr8 represents another building block as we emerge as a leading biotech hub."

About Accelr8

Accelr8 Technology Corporation is a developer of innovative materials and instrumentation for advanced applications in medical instrumentation, basic research, drug discovery, and bio-detection. Accelr8 is developing a rapid analytical platform for infectious pathogens, the BACcel system, based on its innovative assay processing and detection technologies. In addition, Accelr8 licenses certain of its proprietary technology for use in applications outside of Accelr8's own products. To learn more, visit www.accelr8.com.

Certain statements in this news release may be "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements regarding future prospects and developments are based upon current expectations and involve certain risks and uncertainties that could cause actual results and developments to differ materially from the forward-looking statement, including those detailed in the company's filings with the Securities and Exchange Commission. Accelr8 does not undertake an obligation to publicly update or revise any forward-looking statements, whether as a result of new information or future events.

About TREO

TREO offers a comprehensive approach of programs and services to facilitate the creation of high-wage jobs, through the attraction of new primary companies, the retention/expansion of existing primary companies and increased business creation/entrepreneurship strength within the region. Since 2005, TREO has facilitated the relocation and/or expansion of over 60 companies in the Tucson region, representing nearly 17,000 jobs and $2.3 billion in economic impact. For more information, visit www.treoaz.org.

SOURCE Accelr8 Technology Corporation




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