MIT Commits to Volume Production for the MIT 1000 Rapid Microbial Identification System Manufactured by OSI Optoelectronics
April 18 2011 - 8:30AM
Marketwired
Micro Imaging Technologies, Inc. (PINKSHEETS: MMTC) announced that
it has committed to ordering one hundred MIT 1000 Systems with an
immediate requirement for twenty Systems. The MIT 1000 System is
produced for MIT exclusively by OSI Optoelectronics (OSIO), a
subsidiary of OSI Systems and is believed to be the fastest and
most inexpensive bacterial identification system available;
identifying bacteria strains in less than five minutes after
culturing, at a cost of less than 10 cents per test and extremely
easy to use. The MIT 1000 System has been certified by the AOAC
Research Institute (AOAC RI) as a test method for Listeria, one of
three bacteria (the others are Salmonella and E.coli) that are
responsible for the majority of the worldwide food contamination
events. The Company is in the process of preparing the MIT 1000
System for AOAC RI certifications for the identification of both
Salmonella and E. coli later this year. This will give the MIT 1000
System the ability to identify all "three" bacteria within five
minutes in a single test.
"The first production MIT 1000 Systems delivered from OSIO
recently passed all evaluations tests with excellent results and
are now in daily use in the MIT laboratory," stated MIT's Chief
Scientist David Haavig, PhD, and added, "OSIO is the perfect
company to fabricate MIT's Systems for our initial food safety
applications and planned future expansion into pharmaceutical and
clinical diagnostics requirements."
"MIT contracted with OSIO in 2010 to manufacture MIT's Rapid
Microbial Identification System -- their world-class manufacturing
facilities in California, Malaysia and India are all ISO 9001:2000
certified, FDA registered and GMP compliant, making them the
perfect supplier. With an order for one hundred Systems -- we have
made a strong commitment to OSIO and the food safety industry --
and look forward to great results," observed Michael Brennan, MIT's
Chairman.
About OSI Optoelectronics:
OSI Optoelectronics designs, manufactures and markets
optoelectronic products and provides electronics manufacturing
services (EMS) for use in a broad range of applications for
commercial, military, aerospace, industrial, healthcare and
homeland security applications. Their products are widely used in
training and simulation systems, satellite and missile guidance
systems, medical imaging and diagnostic systems.
OSI Optoelectronics has over 40 years of experience in the field
of optoelectronics product development and manufacturing, and has
established a global network of world-class manufacturing
facilities to provide extensive engineering solutions,
manufacturing capabilities and services for clients worldwide.
About Micro Identification
Technologies:
MIT is a California-based public company that has developed and
patented a Rapid Microbial Identification System that
revolutionizes the pathogenic bacteria recognition process and can
annually save thousands of lives and tens of millions of health
care dollars. The System identifies bacteria in minutes, not days,
and at a significant per test cost savings when compared to any
conventional method. It does not rely on chemical or biological
agents, conventional processing, fluorescent tags, gas
chromatography or DNA analysis. The process is totally GREEN
requiring only clean water and a sample of the suspected bacteria.
Revenues for all rapid testing methods exceed $5 billion annually
-- with food safety accounting for over $3.5 billion, which is
expected to surpass $4.7 billion by 2015 according to BCC Research.
In addition, the recently passed "New" U.S. Food Safety Bill is
expected to further accelerate the current annual growth rate of
6.6 percent. Further information is available at the Company's web
site: www.micro-identification.com
MIT previously completed an extensive evaluation by the AOAC RI
Institute which included rigorous independent testing and thorough
reviews by its expert examiners, including the U.S. Department of
Agriculture. The AOAC RI Report is available from the Company.
www.aoac.org
MIT has also demonstrated the ability to detect and identify,
within several minutes, the microbes Escherichia coli, Listeria,
Salmonella, Staphylococcus aureus, and other pathogenic bacteria.
MIT recently performed over 300 tests for the identification of
these contaminants and scored over 95 percent in accuracy. The
System can currently identify 23 species of bacteria and its
capabilities are easily expanded. The identification process has
also been verified by North American Science Associates, Inc.
(NAMSA), an independent and internationally recognized
microbiological testing laboratory. The NAMSA Test Report is
available from the Company and, in MIT's opinion, demonstrates the
accuracy, speed and cost effectiveness of the System over
conventional processes. www.namsa.com
This release contains statements that are forward-looking in
nature. Statements that are predictive in nature, that depend upon
or refer to future events or conditions or that include words such
as "expects," "anticipates," "intends," "plans," "believes,"
"estimates," and similar expressions are forward-looking
statements. These statements are made based upon information
available to the Company as of the date of this release, and we
assume no obligation to update any such forward-looking statements.
These statements are not guarantees of future performance and
actual results could differ materially from our current
expectations. Factors that could cause or contribute to such
differences include, but are not limited to dependence on
suppliers; short product life cycles and reductions in unit selling
prices; delays in development or shipment of new products; lack of
market acceptance of our new products or services; inability to
continue to develop competitive new products and services on a
timely basis; introduction of new products or services by major
competitors; our ability to attract and retain qualified employees;
inability to expand our operations to support increased growth; and
declining economic conditions, including a recession. These and
other factors and risks associated with our business are discussed
from time to time within our filings with the Securities and
Exchange Commission. www.sec.gov, Referencing MMTC.
CONTACT: Michael Brennan Chairman Email: Email Contact
Telephone: (805) 557-0614
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