Molecular Diagnostics, Inc. Accelerates Contract Delivery.Business Editors/Health & Medical Writers CHICAGO--(BUSINESS WIRE)--Feb. 5, 2003 Automated Platform for ImmunoCyt(TM) / uCyt(TM) Bladder Cancer bladder cancer Malignant tumour of the bladder. The most significant risk factor associated with bladder cancer is smoking. Exposure to chemicals called arylamines, which are used in the leather, rubber, printing, and textiles industries, is another risk factor. Test to be Commercially Available Sooner than Expected Molecular Diagnostics, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :MCDG) announced today that it has accelerated the timing of the development project with DiagnoCure, Inc. (Quebec City, Canada) announced on December 12, 2002. The terms of the original Strategic Agreement to integrate DiagnoCure's ImmunoCyt(TM) / uCyt(TM) molecular assay for the detection and monitoring of bladder cancer with MDI's InPath(TM) Slide Based Test automated microscopy platform was based on 3 consecutive phases of development. The parties will now develop the first two phases of the project concurrently, effectively bringing the integrated solution to market more rapidly. "As the product specifications for the project became more solidified so·lid·i·fy v. so·lid·i·fied, so·lid·i·fy·ing, so·lid·i·fies v.tr. 1. To make solid, compact, or hard. 2. To make strong or united. v.intr. , certain economies of development were recognized that will allow us to more rapidly and efficiently integrate the technologies," said Eric Gombrich, Vice President of Business Development for MDI (1) (Multiple Document Interface) A Windows function that allows an application to display and lets the user work with more than one document at the same time. . He added, "Completing the first two phases in a more timely manner will not only reduce the expenses incurred in the project, but allow us to implement the solution at laboratory customers sooner." The development project includes a three year relationship under which MDI will optimize its SBT SBT Symplastin bleeding time platform technology specifically for the detection of cells of interest based on staining by the ImmunoCyt(TM) / uCyt(TM) assay. The companies' plan for the program calls for initial product availability in the first quarter of 2003. The Agreement also calls for the companies to co-market the platform over that period to ImmunoCyt(TM) / uCyt(TM) customers worldwide. Financial terms of the Agreement were not identified. The InPath(TM) Slide Based Test is a fully integrated automated microscopy system that is able to identify and quantify certain cellular attributes from microscopy samples. The SBT platform is currently in clinical trials for use with MDI's proprietary Cocktail-CVX(TM) biomolecular assay for the detection of cervical cancer Cervical Cancer Definition Cervical cancer is a disease in which the cells of the cervix become abnormal and start to grow uncontrollably, forming tumors. and pre-cancer. DiagnoCure's ImmunoCyt(TM) / uCyt(TM) biomolecular assay is an FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. cleared immunocytofluorescent assay for the detection of bladder cancer cells in urine and is based on a cocktail of three monoclonal antibodies This is a list of monoclonal antibodies, antibodies which are clones of a single parent cell. When used as medications, the generic names end in -mab (see "Nomenclature of monoclonal antibodies"). . With outstanding sensitivity results in both low and high-grade tumors, ImmunoCyt(TM) / uCyt(TM) is the perfect complement to cytology cytology (sītŏl`əjē), in biology, the study of the structure of all normal and abnormal components of cells and the changes, movements, and transformations of such components. and cystoscopies in any bladder cancer monitoring program. About Molecular Diagnostics, Inc. Molecular Diagnostics develops cost-effective cancer screening systems, which can be utilized in a laboratory or at the point-of-care, to assist in the early detection of cervical, gastrointestinal, and other cancers. The InPath(TM) System is being developed to provide medical practitioners with a highly accurate, low-cost, cervical cancer screening system that can be integrated into existing medical models or at the point-of-care. Other products include SAMBA(TM) Telemedicine software used for medical image processing image processing Set of computational techniques for analyzing, enhancing, compressing, and reconstructing images. Its main components are importing, in which an image is captured through scanning or digital photography; analysis and manipulation of the image, accomplished , database and multimedia case management, telepathology and teleradiology. Molecular Diagnostics also makes certain aspects of its technology available to third parties for development of their own screening systems. Certain statements in this release are forward-looking. These statements are based on Molecular Diagnostics' current expectations and involve many risks and uncertainties, such as the possibility that clinical trials will not substantiate the Molecular Diagnostics' expectations with respect to the InPath(TM) System, and other factors set forth in reports and documents filed by Molecular Diagnostics with the Securities and Exchange Commission. Molecular Diagnostics undertakes no obligation to publicly update or revise any 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. contained herein. |
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