Fluoresentric Transfers XCR Portable Diagnostic System (PDS) IP To XCR Dx Subsidiary

Award-Winning Diagnostics Brings Near Patient Testing One Step Closer

SALT LAKE CITY--(BUSINESS WIRE)--Fluoresentric, Inc. today announced the transfer of ownership of intellectual property and product development rights for its XCR^TM Portable Diagnostic System (PDS) to its instrument subsidiary company, XCR Diagnostic’s (XCR Dx). XCR Dx’s PDS prototype development, based on its patent pending instrument technology, suggests this will be the first hand-held molecular diagnostic system to deliver sub 15-minute clinically actionable results at near patient, point of care.

“We expect this new instrument to reduce turnaround time and deliver near patient, point-of-care, clinically relevant results at 5 to 10 times the speed of traditional PCR. This points the way for the industry as we all work toward better, more affordable healthcare.”

“Although our patented XCR chemistry is fully compatible with existing laboratory PCR instruments, XCR Dx’s PDS is designed to optimize the speed, portability and low cost advantages of these revolutionary reagents,” states XCR Dx’s COO Mark Powelson. “We expect this new instrument to reduce turnaround time and deliver near patient, point-of-care, clinically relevant results at 5 to 10 times the speed of traditional PCR. This points the way for the industry as we all work toward better, more affordable healthcare.”

The new system uses the revolutionary patented XCR™ amplification and detection chemistry pioneered by XCR Dx’s Chief Science Officer, Brian Caplin. The PDS employs a combination of proprietary sample preparation chemistry and rapid amplification chemistry to achieve these industry firsts.

“XCR results are attained without interference of non-specific product, a traditional nemesis in PCR,” states Caplin. “This means current PCR users can achieve more reliable results on their instruments. Therefore, our award-winning patented technology improves both DNA and RNA molecular tests throughout the installed base of PCR platforms.”

Fluoresentric’s President and CEO, William Olson stated, “We are very pleased to have XCR Dx own this intellectual property. The team over there is focused and prepared to deliver an industry first, lighting fast instrumentation and chemistry that brings to market the first new molecular diagnostic innovation in nearly 30 years.” Olson continues, “Being an Intellectual Property house, Fluoresentric looks forward to other exciting opportunities to partner with and license our IP.”

The XCR Dx PDS may be seen at the November AMP Annual Meeting in Austin, Texas (booth #1824).

About XCR Diagnostics, Inc.

XCR Diagnostics Inc., a Fluoresentric Inc. company, is a start-up instrument provider advancing near patient hand-held molecular instrumentation, sample preparation and detection chemistry in regulated human diagnostic markets, domestically and internationally. The Company is positioned to deliver the first sub 15-minute diagnostic test system to the market in 2016. The combination of small portable platforms and revolutionary molecular reagents enables XCR Diagnostics to dramatically trim test times and reduce healthcare costs, with a vision to deliver hyper-accurate molecular diagnostics testing near patient, point of care.

About Fluoresentric, Inc.

Fluoresentric Inc., an Intellectual Property house, is a company positioned to monetize its XCR™ technology portfolio globally. With strong intellectual property initially in molecular amplification, the Company has expanded its intellectual property collection into instrumentation, sample prep and other application chemistries. Fluoresentric’s vision is to apply the Company’s intellectual property to an extensive set of commercial opportunities resulting in better and faster results processing for industries worldwide.