Accelr8 and BD Agree on Terms for Technology Development Program for theBACcel(TM) Rapid Diagnostics Platform.DENVER -- Accelr8 Technology Corporation (Amex:AXK) announced today that BD (Becton, Dickinson and Company) and Accelr8 have agreed in principle to terms for an agreement with respect to Accelr8's BACcel[TM] rapid bacterial diagnostic system. Under the contemplated agreement, BD will fund an 18-month milestone project starting April 1, 2008. BD will also have the option to license the technology for product development, manufacturing and commercialization for the clinical diagnosis of infectious diseases infectious diseases: see communicable diseases. . The definitive agreement is expected to be signed before April 30, 2008. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. David Howson, Accelr8's president, "BD leads the industry in clinical microbiology Clinical microbiology The adaptation of microbiological techniques to the study of the etiological agents of infectious disease. Clinical microbiologists determine the nature of infectious disease and test the ability of various antibiotics to inhibit or kill , with broad product offerings for classical microbiology as well as molecular diagnostics. We are excited to work with BD as we move into our next phase of BACcel development." In other news, Accelr8 noted issuance of its core "Quantum Microbiology[TM]" patent, for which the company previously had announced notice of allowance. Additionally, the company noted acceptance of three scientific presentations for the 108th General Meeting of the American Society for Microbiology The American Society for Microbiology (ASM) is a scientific organization, based in the United States although with over 43,000 members throughout the world. It is the largest single life science professional organization and its members include those whose interests encompass basic (ASM (1) (Association for Systems Management) An international membership organization based in Cleveland, Ohio. Founded in 1947 and disbanded in 1996, it sponsored conferences in all phases of administrative systems and management. , www.asm.org) to be held June 1-5 in Boston, MA. Subjects to be covered include multiplexed identification of multiple drug resistance mechanisms, rapid Acinetobacter immunoassay Immunoassay An assay that quantifies antigen or antibody by immunochemical means. The antigen can be a relatively simple substance such as a drug, or a complex one such as a protein or a virus. performance, and quantitative analysis Quantitative Analysis A security analysis that uses financial information derived from company annual reports and income statements to evaluate an investment decision. Notes: of bacteria extracted directly from human clinical specimens About Accelr8 Accelr8 Technology Corporation (www.accelr8.com) is a developer of innovative materials and instrumentation for advanced applications in medical instrumentation, basic research, drug discovery and bio-detection. Accelr8 is developing the BACcel[TM] rapid diagnostic system based on its innovative surface coatings, assay processing and detection technologies. In addition, Accelr8 licenses certain of its proprietary technology for use in applications outside of Accelr8's own products. Certain statements in this news release may be "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements regarding future prospects and developments are based upon current expectations and involve certain risks and uncertainties that could cause actual results and developments to differ materially from the forward-looking statement, including those detailed in the company's filings with the Securities and Exchange Commission. Accelr8 does not undertake an obligation to publicly update or revise any forward-looking statements, whether as a result of new information or future events. |
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