Applied BioCode, Inc. and Maxwell Sensors Receive $2.8 Million National Institutes of Health (NIH) Grant to Pursue Multiplex Testing Platform

SANTA FE SPRINGS, Calif.--(BUSINESS WIRE)--Applied BioCode, Inc. and Maxwell Sensors Inc. announced today that they have received a $2.8M three-year grant from the Recovery Act Limited Competition: National Institutes of Health (NIH), for the development of a high throughput diagnostic multiplex testing platform using their Barcoded Magnetic Beads (BMB) technology for various high value immunodiagnostics and molecular diagnostic tests. These multiplex testing applications include tests for infectious diseases, cancer, companion diagnostics, autoimmune disease, genetic screening, and pharmacogenomics. These multiplex testing areas generate annual revenues of approximately $6.0 billion, each with double-digit growth rates expected for the foreseeable future.