IDEXX to Introduce Applied BioCode's Innovative Multiplex Technology Across Global Reference Laboratory Network
WESTBROOK, Maine, Jan. 8, 2018 /PRNewswire/ -- IDEXX Laboratories (NASDAQ: IDXX) and Applied BioCode (6598:Taipei) today announced that they have entered into an exclusive global agreement to bring Applied BioCode's digital multiplex platform to IDEXX Reference Laboratories customers. IDEXX anticipates the technology will be commercially available starting in 2019. Applied BioCode is a California-headquartered diagnostics company that designs, develops, manufactures, and markets systems for highly multiplexed assays.
"IDEXX's market-leading innovation is at the core of our strategy," said Jonathan Ayers, Chairman and Chief Executive Officer of IDEXX Laboratories. "Implementation of Applied BioCode's technology supports our vision for margin expansion, and it will allow us to offer customers expanded test menu breadth and menu customization for each patient sample submitted to IDEXX Reference Laboratories in the future. This is consistent with our commitment to provide the most comprehensive, cost-effective, and timely diagnostic picture for our customers and their patients. This proprietary technology platform will also likely have applications in our other animal health diagnostic markets."
Paired with IDEXX's proprietary assays and reagents, Applied BioCode's technology enables the development of an ultra-high sensitivity immunoassay platform. Immunoassay is the detection technology used on platforms such as IDEXX SNAP® tests for applications as diverse as vector-borne disease and parasitology as well as for both sick and preventive care uses.
"Applied BioCode is thrilled to introduce our technology to veterinary medicine with IDEXX, enabling veterinarians to benefit from our advanced multiplexing capabilities," said Winston Ho, President of Applied BioCode. "We look forward to working with the IDEXX team to implement our platform at its reference laboratories."
For more information about IDEXX Reference Laboratories, visit www.idexx.com.
About IDEXX Laboratories
IDEXX Laboratories, Inc. is a member of the S&P 500® Index and is a leader in pet healthcare innovation, serving practicing veterinarians around the world with a broad range of diagnostic and information technology-based products and services. IDEXX products enhance the ability of veterinarians to provide advanced medical care, improve staff efficiency and build more economically successful practices. IDEXX is also a worldwide leader in providing diagnostic tests and information for livestock and poultry and tests for the quality and safety of water and milk. Headquartered in Maine, IDEXX Laboratories employs more than 7,000 people and offers products to customers in over 175 countries. For more information about IDEXX, visit www.idexx.com.
About Applied BioCode
Applied BioCode is a publicly traded diagnostic company that develops, manufactures, and markets Barcoded Magnetic Beads (BMBs) and detection systems to facilitate development of highly multiplexed nucleic acids or protein detection assays. The BMB technology offers up to 4,096 unique digital barcodes for multiplex analysis with unmatched decoding accuracy. Their easy-to-use BioCode systems employ steady state detection without requiring flow cytometers that are prone to channel blockage or sample cross contamination. The system is well suited for clinical diagnostic applications, such as detection of infectious pathogens, drug resistance markers, cancer markers and mutation analysis, as well as specific applications for the life science research and agricultural testing markets. For more information, visit the company's website at www.apbiocode.com.
Note Regarding Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words such as "expects," "may," "anticipates," "intends," "would," "will," "plans," "believes," "estimates," "should," and similar words and expressions. These forward-looking statements are based on management's current expectations and beliefs, as well as a number of assumptions concerning future events. These forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results, performance or achievements to be materially different from those expressed or implied by these forward-looking statements. IDEXX assumes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Readers are advised to review IDEXX's filings with the United States Securities and Exchange Commission (which are available from the SEC's EDGAR database at www.sec.gov and via IDEXX's website at www.idexx.com).
SOURCE IDEXX Laboratories, Inc.
Company Codes: Gretai:6598, NASDAQ-NMS:IDXX