Strategic Diagnostics Announces Exclusive License with Syngenta Seeds AG; USDA Certifies Use of Mycotoxin Test Kit.Business Editors NEWARK, Del.--(BUSINESS WIRE)--May 8, 2002 Strategic Diagnostics Inc. (Nasdaq: SDIX) today announced the signing of an exclusive commercial license agreement with Syngenta Seeds AG. The agreement confers to SDI (1) (Serial Digital Interface) A physical interface widely used for transmitting digital video in various formats. For electrical transmission, it uses a high grade of coaxial cable and a single BNC connector with Teflon insulation. the worldwide rights to manufacture and sell analytical tests to detect two of Syngenta's genetic traits in plants, seeds, grain and intermediate food products. These genetic traits are to be deployed in a variety of applications in agriculture and the food chain and will provide significant benefits to the users. Dr. Bruce Lee Noun 1. Bruce Lee - United States actor who was an expert in kung fu and starred in martial arts films (1941-1973) Lee Yuen Kam, Lee of Syngenta commented, "We are delighted to work with SDI in connection with these significant assets of Syngenta. SDI has demonstrated throughout the course of our relationship, and to the AgBiotech industry generally, the ability to develop, manufacture and sell high quality, analytical methods that provide accurate information in a rapid test format. We believe these same attributes will benefit our customers in the years ahead." Richard C. Birkmeyer, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of SDI commented, "We are gratified grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. by the trust Syngenta, a leading developer of genetic innovations, has placed in SDI. We have worked diligently over many years to establish a market-leading position in analytical testing. With this relationship, we believe SDI is uniquely positioned to continue to provide the marketplace with tests for every significant genetic trait in commercial production." In a separate development, the Company announced that the USDA USDA, n.pr See United States Department of Agriculture. Grain Inspection, Packers and Stockyards Administration The Grain Inspection, Packers and Stockyards Administration (or GIPSA) is an agency of the United States Department of Agriculture that facilitates the marketing of livestock, poultry, meat, cereals, oilseeds, and related agricultural products, and promotes fair and (GIPSA GIPSA Grain Inspection, Packers and Stockyards Administration ) has issued its certification of the MycoCheck(TM) test kit for the detection of aflatoxin, which is the most common mycotoxin mycotoxin Toxin produced by a fungus. Numerous and varied, mycotoxins can cause hallucinations, skin inflammation, liver damage, hemorrhages, miscarriage, convulsions, neurological disturbances, and/or death in livestock and humans. . The market for test kits for the detection of mycotoxins is estimated to be $22-25 million annually. SDI's family of tests offers meaningful competitive advantages. All the MycoCheck(TM) test kits are in a format that allows easy, visual, semi-quantitative analysis as well as instrument based 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: . The Company believes that these competitive advantages and its existing customer relationships established with major food manufacturers position the Company to attract a meaningful market share of mycotoxin kit sales. About Strategic Diagnostics Inc. SDI is a leading provider of biotechnology-based diagnostic tests for a broad range of agricultural, industrial, and water treatment applications. Through its antibody business, Strategic BioSolutions, Strategic Diagnostics also provides antibody and immunoreagent research and development services. SDI's test kits are produced in a variety of formats suitable for field and laboratory use, offering advantages of accuracy, cost-effectiveness, portability, and rapid response. Trait Check(TM), GMO GMO abbr. genetically modified organism QuickCheck(TM), and GMO Check(TM) are pending trademarks for SDI. This news release contains forward-looking statements reflecting SDI's current expectations. When used in this press release, the words "anticipate", "enable", "estimate", "intend", "expect", "believe", "potential", "will", "should", "project" "plan" and similar expressions as they relate to SDI are intended to identify said forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainties, which may cause actual results to differ from those anticipated by SDI at this time. Such risks and uncertainties include, without limitation, changes in demand for products, delays in product development, delays in market acceptance of new products, retention of customers and employees, adequate supply of raw materials, the successful integration and consolidation of the Maine production facilities, inability to obtain or delays in obtaining third party, including AOAC AOAC Association of Official Analytical Chemists (now AOAC International) AOAC Association of Analytical Communities AOAC Association of Analytical Chemists AOAC Always On/Always Connected AOAC Aero-Optic Evaluation Center , or required government approvals, the ability to meet increased market demand, competition, protection of intellectual property, non-infringement of intellectual property, seasonality, and other factors more fully described in SDI's public filings with the U.S. Securities and Exchange Commission. |
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