Leading Cancer Diagnostic Services Company to Standardize DNA Probe Testing
Using the Applied Imaging MDS(TM) System
SANTA CLARA, Calif., Jan. 31 /PRNewswire-FirstCall/ --
Applied Imaging Corp. (Nasdaq: AICX) announced that it has entered into a
strategic alliance with US LABS, Inc., a leading provider of broad-based
cancer diagnostic services, to supply US LABS with automated image analysis
systems for genomic testing in cancer, leukemia and lymphoma cases.
US LABS has ordered 12 of the Company's MDS systems for its genetics
testing facility in Irvine, California, four of which have already been
delivered and installed. The companies anticipate that eight additional
systems will be ordered during the first half of 2002, for a total of 20
systems. The value of this supply arrangement is estimated to be over
$1.6 million.
Applied Imaging CEO Carl Hull stated, "We are excited to announce this
strategic partnership with US LABS. This order represents the largest single
purchase in Applied Imaging's history. The purchase of an anticipated
20 MDS multiparameter cellular analysis systems by US LABS will be one of many
investments made in both technology and human assets as they continue to
develop one of the largest and most technologically advanced clinical DNA
testing facilities in the United States."
"The partnership represents a significant milestone in establishing the
MDS system as a key enabling device in genomic testing. We are looking
forward to working with US LABS on the development of new applications for the
MDS system along with future system enhancements," continued Mr. Hull.
US LABS Chairman and CEO Michael Danzi commented, "Our commitment to offer
the most comprehensive range of genomic testing services to physicians and
other referring clients throughout the country will be substantially enhanced
by our acquisition of these MDS systems. Having had extensive experience with
other clinical imaging systems, we believe that Applied Imaging offers the
only automated system today that enables us to perform a wide range of genetic
tests based on fluorescent in situ hybridization (FISH) technology, the
accepted standard for clinical DNA testing."
Applied Imaging's MDS System is an advanced scanning microscopy system
designed to conduct analysis of both gene and protein expression in cancer
cells. Utilizing a proprietary combination of fluorescence and brightfield
microscopy, the MDS offers laboratories the ability to analyze the results of
complex, multiparameter test panels. The result of these analyses assist
clinicians in making improved diagnoses and the selection of the most
appropriate cancer therapies.
About Applied Imaging
Applied Imaging Corp., based in Santa Clara, California, is the leading
supplier of automated imaging systems utilized in genetics and pathology
laboratories for the analysis of chromosomes in cancer and prenatal disorders.
The Company has installed over 2,500 imaging systems in over 1,000
laboratories in more than 35 countries. Applied Imaging markets a range of
clinical and research imaging systems for fluorescence and brightfield
microscopy applications, including the Company's MDS(TM), CytoVision(R),
PowerGene(R) and QUIPS(R) product lines.
About US LABS
Irvine-based US LABS, Inc. is a national, diversified health care cancer
diagnostic services company devoted to comprehensive, high quality, rapid
response cancer testing. The company provides national screening, diagnostic
and prognostic cancer testing services to hospitals and physician offices.
US LABS, Inc. serves doctors and patients throughout the United States from
its laboratory in Irvine, California.
This press release contains forward looking statements as defined in the
Private Securities Litigation Reform Act of 1995, regarding the current and
future sales resulting from the commercial relationship announced in this
Press Release. Forward looking statements address matters that are subject to
a number of risks and uncertainties, including the possibility that US LABS
may not order additional MDS systems, or related applications, and that the
Company may not be able to compete effectively with various other companies,
some of which have greater resources than the Company. Additional risks and
uncertainties are in the Company's form 10-K for the year ended December 31,
2000 as filed with the Securities and Exchange Commission.
For additional information please contact Applied Imaging, the Financial
Relations Board or visit the Company's web site at http://www.aicorp.com .
For additional information about US LABS, contact Michael R. Danzi,
Chairman and CEO at 949-450-0145 ext. 108. E-mail: mdanzi@uslabs.net. Dennis
E. Walsh, VP Sales and Marketing at 949-450-0145 ext. 167. E-mail:
dwalsh@uslabs.net.
SOURCE Applied Imaging Corp.
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Related links:
http://www.aicorp.com
CONTACT:
Barry Hotchkies, CFO of Applied Imaging
Corp., +1-408-562-0250; or Liz Saghi (Investor/Media Contact) or
Pam Roberts (General Contact), both of Financial Relations Board,
+1-415-986-1591, for Applied Imaging Corp.
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