VANCOUVER, Oct. 27 /PRNewswire-FirstCall/ - Response Biomedical Corp. , today announced that it ranked Number 100 on the 2005 Deloitte Technology Fast 500, a ranking of the 500 fastest growing technology companies in North America. Rankings are based on percentage revenue growth over five years, from 2000-2004. Response Biomedical grew 2,290 percent during this period.
“It is rewarding to be among North America’s top 100 fastest growing technology companies. Our success is attributable to our highly sensitive rapid tests for detecting anthrax and other biological agents, West Nile Virus, and clinical tests for several cardiac markers to assist in the early detection of heart attacks,” said Bill Radvak, President and CEO. “With market leading performance of our RAMP System across multiple product lines, and a proven core competency in rapid new product development, we anticipate continued significant long term growth from sales of additional tests for congestive heart failure, Flu A, and hospital acquired infections.”
“Achieving revenue growth of 2,290 percent over five years is a tremendous achievement,” said Tony Kern, deputy national managing principal of Deloitte’s Technology, Media & Telecommunications industry practice. “Response Biomedical’s phenomenal growth puts it in select company.”
Fast 500 Selection and Qualifications
The Fast 500 list is compiled from Deloitte’s 15 regional North American Fast 50 lists, nominations submitted directly to the Fast 500, and public company database research. To qualify for the Fast 500, entrants must have had 2000 operating revenues of at least $50,000 USD or $75,000 CD for the United States and Canada, respectively, and 2004 operating revenues of at least $1 million USD or CD. Entrants must be headquartered in North America and must be a “technology company,” defined as a company that owns proprietary technology that contributes to a significant portion of the company’s operating revenues; or devotes a significant proportion of revenues to the research and development of technology. Using other companies’ technology in a unique way does not qualify.
About Response Biomedical
Response Biomedical develops, manufactures and markets rapid on-site diagnostic tests for use with its RAMP System for clinical and environmental applications. RAMP represents a new paradigm in diagnostic testing by providing reliable information in minutes, anywhere, every time. The RAMP System consists of a portable fluorescent Reader and single-use, disposable Test Cartridges, and has the potential to be adapted to more than 250 medical and non-medical tests currently performed in laboratories. RAMP tests are commercially available for the early detection of heart attack, environmental detection of West Nile virus, and biodefense applications including the rapid on-site detection of anthrax, smallpox, ricin and botulinum toxin. Response Biomedical has relationships with 3M Health Care, Roche Diagnostics, General Dynamics and Japanese pharmaceutical company, Shionogi & Co. The Company has achieved CE Marking and its Quality Management System is registered to ISO 13485: 2003 and ISO 9001: 2000.
Response Biomedical is a publicly traded company, listed on the TSX Venture Exchange under the trading symbol “RBM” and quoted on the OTC Bulletin Board under the symbol “RPBIF”. For further information, please visit the Company’s website at www.responsebio.com.
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms and their respective subsidiaries and affiliates. As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other’s acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names “Deloitte”, “Deloitte & Touche”, “Deloitte Touche Tohmatsu” or other related names. Services are provided by the member firms or their subsidiaries or affiliates and not by the Deloitte Touche Tohmatsu Verein.
Deloitte & Touche USA LLP is the US member firm of Deloitte Touche Tohmatsu. In the US, services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP, Deloitte Tax LLP and their subsidiaries), and not by Deloitte & Touche USA LLP.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Statements contained in this news release relating to future results, events and expectations, are forward-looking statements within the meaning of Section 21E of the United States Securities Exchange Act of 1934. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, those described in the Company’s annual report on Form 20-F.
Contact: Don Bradley Brian Korb Director, Corporate Communications Senior Associate Response Biomedical Corp. The Trout Group LLC Tel (604) 456-6010 ext. 6073 Tel: (212) 477-9007 ext. 23 Email: dbradley@responsebio.com Email: bkorb@troutgroup.com
Response Biomedical Corp.
CONTACT: Don Bradley, Director, Corporate Communications, ResponseBiomedical Corp., Tel (604) 456-6010 ext. 6073, Email:dbradley@responsebio.com; Brian Korb, Senior Associate, The Trout GroupLLC, Tel: (212) 477-9007 ext. 23, Email: bkorb@troutgroup.com