SANTA CLARA, Calif., May 30 /PRNewswire-FirstCall/ --
Applied Imaging Corp. (Nasdaq: AICX) announces the introduction of its
SPOT AX(TM) genetic analysis system to automatically detect and count
fluorescent-labeled DNA probe signals in cells. The SPOT AX is being released
to clinical and research sites for research use, pending application to the
Food and Drug Administration (FDA) for clearance. The system is designed for
a range of applications, one of which is to assist in the detection of
specific genetic abnormalities that identify which patients may respond to new
molecularly targeted therapies. For example, the SPOT AX system can be used
to automate the analysis of a fluorescent DNA probe assay that may be a factor
in the selection of patients with chronic myelogenous leukemia to receive
Novartis' Gleevec(R) therapy.
Fluorescent-labeled DNA probes are used in both clinical and research
settings to detect specific genetic abnormalities, such as the presence or
absence of a particular segment of DNA or subtle, complex chromosome
rearrangements. These genetic abnormalities are often associated with the
development of cancer and other diseases. Current oncology research is
focused on the development of therapies that precisely target these genetic
abnormalities, with notable successes thus far in the treatment of selected
patients with breast cancer and leukemia. Patients who would benefit from
these therapies are identified by various clinical factors, including
fluorescent DNA probe results.
"I am very pleased to announce that we have achieved another significant
milestone for the Company. Our SPOT AX system adds to the range of products
available within our OncoPath(TM) product line. It offers our first fully
automated capability to detect and count fluorescent-labeled DNA probe signals
in cells," commented Carl Hull, Applied Imaging CEO. "We are responding to a
rapidly increasing market demand for the automated analysis of
fluorescent-based DNA probe tests. External estimates indicate that
gene-based testing is growing at 20-30% per year in major clinical
laboratories."
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 markets a range of clinical and research imaging systems for
fluorescence and brightfield microscopy applications, including the Company's
MDS(TM), SPOT AX(TM), CytoVision(R), PowerGene(R) and QUIPS(R) product lines.
Applied Imaging has installed in excess of 2,500 systems in over
1,000 laboratories in more than 60 countries.
This press release contains forward-looking statements as defined in the
Private Securities Litigation Reform Act of 1995, regarding, among other
matters, the Company's sales of its new SPOT AX system, and product
applications. The Company's actual results could differ materially from those
anticipated in these forward-looking statements as a result of a number of
risks, uncertainties and other factors, including, but not limited to, risks
associated with obtaining FDA clearance for our SPOT AX system, and those
discussed in the Company's filings with the Securities and Exchange
Commission, including the form 10-K for the year ended December 31, 2001. The
forward-looking statements are made as of May 30, 2002 and the Company is
under no obligation to revise or update the forward-looking statements.
For additional information on Applied Imaging visit the Company's web site
at http://www.aicorp.com .
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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 Investor/Media, James Hoyne or
General, Pam Roberts, +1-415-986-1591, both of FRB/Weber
Shandwick, for Applied Imaging Corp.
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