Accelr8 Announces Option Exercise to Continue BACcel™ Technology Evaluation, & Additional Presentations at Major Medical Me...
April 14 2011 - 7:45AM
Business Wire
Accelr8 Technology Corporation (NYSE Amex: AXK) announced
that it received notification by its industry collaborator of
exercise of an option to continue its technology evaluation program
for Accelr8’s BACcel™ rapid diagnostic system. As previously
announced, the two companies have an agreement that contains the
option to continue through June 30, 2011. The option exercise
extends the exclusivity period for good faith negotiations of
business terms for a definitive agreement on a formal business
relationship. The extension period now encompasses milestones
related to product development.
In addition, Accelr8 announced acceptance of two presentations
for the 111th General Meeting of the American Association for
Microbiology (ASM) to be held May 21-24 in New Orleans. One
presentation, co-authored by investigators at the Denver Health
Medical Center, will describe results on rapid quantitation,
identification, and major antibiotic resistance expression of
pathogens in ICU respiratory specimens. The study compared the
accuracy and timing of results from Accelr8’s BACcel™ rapid system
with those from standard clinical lab culture testing.
The second study, co-authored by investigators from Denver
Health and the Barnes-Jewish Hospital in St. Louis, will describe
results of a rapid test to identify important new types of
antibiotic resistance in “Staph” infections. One of the new
mechanisms, named “hVISA,” cannot be detected by standard
laboratory culture methods and presents a major new threat with
multi-resistant Staph infections.
Prior studies have demonstrated the BACcel™ system’s ability to
report pathogen identification within 2 hours after receiving a
specimen, and drug resistance expression within a total of 6-8
hours. The BACcel™ system analyzes multiple organisms and multiple
modes of drug resistance expression directly from a patient
specimen. The short time to result contrasts with typical 3-day
turnaround required for standard laboratory cultures.
According to David Howson, Accelr8’s president, “The option
exercise reflects the rapid progress we’ve made in demonstrating
practical technology to complete our instrument development, and
the consistent results the BACcel achieves in collaborative
studies. The two new presentations add to those we recently
announced for two other meetings, with one in the US and one in
Europe. The new presentations extend the findings in testing
dangerous new types of resistance and in applying the BACcel
directly to ICU patient specimens. It is particularly important to
see that analyses of patient specimens produce results consistent
with those from earlier laboratory studies under standardized
conditions. The BACcel’s unprecedented ‘multi-bug’ and multi-drug
capability, combined with its speed, sets it apart from other
attempts to address the crisis of multi-resistant infections and
the virtual absence of new antibiotic development.”
About Accelr8
Accelr8 Technology Corporation (www.accelr8.com) is a developer of innovative
materials and instrumentation for advanced applications in medical
instrumentation, basic research, drug discovery, and bio-detection.
Accelr8 is developing a rapid analytical platform for infectious
pathogens, the BACcel™ system, based on its innovative surface
coatings, assay processing, and detection technologies. In
addition, Accelr8 licenses certain of its proprietary technology
for use in applications outside of Accelr8’s own products.
Certain statements in this news release may be “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. Statements regarding future prospects and
developments are based upon current expectations and involve
certain risks and uncertainties that could cause actual results and
developments to differ materially from the forward-looking
statement, including those detailed in the company's filings with
the Securities and Exchange Commission. Accelr8 does not undertake
an obligation to publicly update or revise any forward-looking
statements, whether as a result of new information or future
events.
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