ALISO VIEJO, Calif., Nov. 29 /PRNewswire-FirstCall/ -- Clarient, Inc. , a technology and services resource for pathologists, oncologists and the pharmaceutical industry, announced that the final milestones for the ACIS(R) III Development Agreement with Dako have been completed, triggering the initiation of the process for final payment of $750,000 to Clarient. In addition, Clarient filled the first order for the commercial units to be used in the launch of the new ACIS III, and these units have been shipped commencing the much anticipated launch phase of the program.
Clarient President and CEO Ron Andrews said, “The completion of these milestones represents an extraordinary accomplishment for our technology team. In essence, we have delivered a new product to the market in less than 15 months from the point of final specification approval to the first commercially available systems. This accelerated time-to-market cycle is rare in the diagnostic device business. We are extremely excited to move into the commercial phase and support of Dako’s worldwide launch with this new product, specifically designed to Dako specifications.”
The ACIS III is the state of the art automated cellular imaging system featuring improved image resolution, faster scanning, interface to Dako automated stainers, improved user interface and remote viewing capabilities.
About Dako
Dako A/S is one of the world’s leading providers of system solutions for cancer diagnostics and cell analysis. Hospital and research laboratories worldwide use Dako products to make precise diagnoses and determine the most effective treatment of patients suffering from cancer and other serious diseases. Dako is privately owned and headquartered in Denmark. With more than 1300 employees and a presence in more than 20 countries, Dako covers most of the global market. Remaining markets are covered by distributors in 50 countries. For more information, visit www.dakocytomation.com.
About Clarient
Clarient combines innovative technologies with world class expertise to assess and characterize cancer. Clarient’s mission is to provide technologies, services and the critical information to improve the quality and reduce the cost of patient care as well as accelerating the drug development process. The Company’s principal customers include pathologists, oncologists, hospitals and biopharmaceutical companies.
The Company was formed in 1996 to develop and market the ACIS(R) Automated Cellular Imaging System, an important advance in slide-based testing. The rise of individualized medicine as the new direction in oncology led the Company in 2004 to expand its business model to provide the full range of leading diagnostic technologies such as flow cytometry and molecular testing in-house, creating a state-of-the-art commercial cancer laboratory and providing the most advanced oncology testing and drug development services available. Clarient is a Safeguard Scientifics, Inc. partner company. For more information, visit www.clarientinc.com.
About Safeguard
Safeguard Scientifics, Inc. builds value in high-growth, revenue-stage information technology and life sciences businesses. Safeguard provides growth capital as well as a range of strategic, operating and management resources to our partner companies. The company participates in expansion financings, corporate spin-outs, management buyouts, recapitalizations, industry consolidations and early-stage financings. For more information about Safeguard, please visit www.safeguard.com.
The statements herein regarding Clarient, Inc. contain forward-looking statements that involve risks and uncertainty. Future events and the Company’s actual results could differ materially from the results reflected in these forward-looking statements. Factors that might cause such a difference include, but are not limited to the performance and acceptance of the Company’s new ACIS III system in the market place, the success of the Company’s development and distribution arrangement with Dako, the Company’s ability to expand and maintain a successful sales and marketing organization, the Company’s ability to compete with other technologies and with emerging competitors in cell imaging and dependence on third parties for collaboration in developing new tests and in distributing the Company’s systems and tests performed on the system, and risks detailed from time to time in the Company’s SEC reports, including quarterly reports on Form 10-Q, reports on Form 8-K and annual reports on Form 10-K. Recent experience with respect to laboratory services, new contracts for instrument sales, revenues and results of operations may not be indicative of future results for the reasons set forth above.
The company does not assume any obligation to update any forward-looking statements or other information contained in this document.
Contact: Matt Clawson John Baldissera Allen & Caron, Inc. BPC Financial Marketing (949) 474-4300 (800) 368-1217
Clarient, Inc.
CONTACT: Matt Clawson of Allen & Caron, Inc., +1-949-474-4300, forClarient, Inc.; or John Baldissera of BPC Financial Marketing,+1-800-368-1217, for Clarient, Inc.
