SAN JOSE, Calif., June 1 /PRNewswire-FirstCall/ - Applied Imaging Corp. , or "Applied Imaging" or the "Company," today announced its wholly-owned subsidiary, Applied Imaging International Ltd., was one of three commercial partners accepted as a collaborator in the DISMAL(1)-project, a European-based, three-year biomarker study directed toward the detection and dissemination of tumor cells.
The venture was organized and funded by the European Union, and is comprised of 11 prestigious academic research centers and three commercial partners with long-term expertise in micro metastasis research and is being led by Dr. Klaus Pantel, Professor at the University Medical Center Hamburg-Eppendorf. In its role in the DISMAL-project, Applied Imaging will develop scanning hardware and software for fast and accurate detection of disseminated tumor cells (DTC) based on its Ariol(R) platform's rare cell detection and analysis capabilities. The project includes developments for improved DTC detection utilizing high speed image processing technology, as well as the development of detection algorithms and data transfer software.
Commenting on the agreement, Robin Stracey, President and CEO of Applied Imaging, said "We are pleased to be the only imaging company collaborating on this high profile study into the detection and characterization of tumor cells. We expect our work on the DISMAL-project will be incorporated into the circulating tumor cell (CTC) system we are developing and will further enhance the presence of our Ariol(R) systems in cancer research and diagnostics in the European market."
About Applied Imaging
Applied Imaging Corp., based in San Jose, California, is the leading supplier of automated imaging and image analysis systems for the detection and characterization of chromosomes and molecular markers in genetics and pathology applications. The Company develops, manufactures and markets a range of scanning and image analysis systems for both conventional (brightfield) and fluorescent microscopic analysis of cellular and tissue specimens. Products are sold to hospital laboratories, cancer centers, prenatal clinics and research institutions for both research and clinical purposes. The Company has installed over 4,000 of its systems in over 1000 laboratories in more than 60 countries around the world. Beyond its core business, through its wholly-owned subsidiary, CTC, Inc., the Company is also developing a system for the detection, quantification and characterization of tumor cells in the blood of cancer patients.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: This press release contains forward looking statements as defined in the Private Securities Litigation Reform Act of 1995, regarding, among other matters, the Company's expectations regarding its ability to develop a system for the detection of circulating tumor cells in the future. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of factors, including those factors as set forth in Applied Imaging's most recent Form 10-Q and Form 10-K filings with the Securities and Exchange Commission. The forward-looking statements in this news release are made as of May 26, 2006, and Applied Imaging is under no obligation to revise or update the forward-looking statements.
(1) Molecular Signatures as Diagnostic and Therapeutic Targets for Disseminated Epithelial Malignancies
The DISMAL project has received research funding from the European Community's Sixth Framework Programme, contract no.: LSHC-CT-2005-018911
For More Information:
CCG Investor Relations
Crocker Coulson, President
10960 Wilshire Boulevard, Suite 2050
Los Angeles, CA 90024
Applied Imaging Corp.
Terry Griffin, Chief Financial Officer
120 Baytech Drive,
San Jose, CA 95134
Applied Imaging Corp.
CONTACT: Crocker Coulson, President of CCG Investor Relations,+1-310-231-8600, firstname.lastname@example.org, for Applied Imaging Corp.; orTerry Griffin, Chief Financial Officer of Applied Imaging Corp.,+1-408-719-6417, email@example.com