Quotient Limited Announces Booth Tour at the 2016 AABB Annual Meeting and Provides Update of Expected Timing of Internal Eval...
October 21 2016 - 8:30AM
Quotient Limited (NASDAQ:QTNT), a commercial-stage diagnostics
company, today announced that the Company’s executive management
team will host a booth tour on Monday, October 24th at 10:30 a.m.
EDT at the 2016 AABB Annual Meeting being held October 22nd to 25th
in Orlando, FL. The booth tour will include an overview of
Quotient’s MosaiQ™ next-generation automation platform for blood
grouping and disease screening.
Quotient also announced that it now expects to
report the results of an internal evaluation study for MosaiQ™ in
November 2016 versus its previous expectation of early October
2016. Recently initiated and ongoing, the internal evaluation study
involves the use of final manufactured MosaiQ™ Microarrays and
field trial instruments for up to ten blood group antigens, as well
as an antibody identification panel. Quotient then expects to
complete a more comprehensive internal evaluation study of the
final MosaiQ™ IH Microarray (blood grouping panel) and MosaiQ™ SDS
Microarray (CMV and Syphilis detection) prior to the commencement
of European field trials.
About MosaiQ™
MosaiQ™ has been designed to offer a breadth of
diagnostic tests unmatched by existing commercially available
transfusion diagnostic instrument platforms, spanning blood
grouping, serological disease screening for donor testing and
nucleic acid testing (or molecular disease screening) for donor
testing.
Once approved, MosaiQ™ will be the first fully
automated solution for blood grouping, providing for the
comprehensive characterization of both donor and patient blood,
with turnaround times significantly quicker than existing methods.
Widespread adoption of MosaiQ™ is expected to improve patient
outcomes through better and easier matching of donor and patient
blood, given cost-effective extended antigen typing offered by
MosaiQ™. Improved patient outcomes from the use of MosaiQ™ include
the potential for reduced incidence of adverse events associated
with transfusion, particularly alloimmunization, where patients
develop antibodies to foreign antigens introduced through
transfused blood.
MosaiQ™ will also offer the opportunity for
substantial cost savings and a range of operational efficiencies
for donor and patient testing laboratories, including:
- elimination of the need for routine manual testing typically
undertaken by highly skilled technicians;
- simplification of required consumables and testing
processes;
- consolidation of multiple instrument platforms in donor testing
laboratories;
- significant reduction in sample volume requirements;
- reduction in the number of patient/donor samples required,
consumables and reagent waste; and
- more streamlined processes for matching donor units to
patients.
Quotient expects to develop additional
applications for MosaiQ™, starting with nucleic acid testing for
donor molecular disease screening, upon completion of assay
development for the blood grouping and serological disease
screening applications.
About Quotient Limited
Quotient is a commercial-stage diagnostics
company committed to reducing healthcare costs and improving
patient care through the provision of innovative tests within
established markets. With an initial focus on blood grouping and
serological disease screening, Quotient is developing its
proprietary MosaiQTM technology platform to offer a breadth of
tests that is unmatched by existing commercially available
transfusion diagnostic instrument platforms. The company’s
operations are based in Edinburgh, Scotland; Eysins, Switzerland
and Newtown, Pennsylvania.
Forward-Looking Statements
This news release contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934 and
the Private Securities Litigation Reform Act of 1995. These
forward-looking statements may include statements regarding our
expectations of continued growth, the development, regulatory
approval, commercialization and impact of MosaiQTM and other new
products. Such statements are based on current assumptions that
involve risks and uncertainties that could cause actual outcomes
and results to differ materially. These risks and uncertainties,
many of which are beyond our control, include delays or denials of
regulatory approvals or clearances for products or applications;
market acceptance of our products; the impact of competition; the
impact of facility expansions and expanded product
development, clinical, sales and marketing activities on operating
expenses; delays or other unforeseen problems with respect to
manufacturing, product development or field trial studies; adverse
results in connection with any ongoing or future legal proceeding;
continued or worsening adverse conditions in the general domestic
and global economic markets; as well as the other risks set forth
in the Company's filings with the Securities and Exchange
Commission. Investors are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date
hereof. Quotient disclaims any obligation to update these
forward-looking statements.
The Quotient logo and MosaiQ™ are registered
trademarks or trademarks of Quotient Limited and its subsidiaries
in various jurisdictions.
CONTACT: Stephen Unger, Chief Financial Officer – stephen.unger@quotientbd.com; (212) 228-7572
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