Corporate - Media & Press - Press Release
Arrayit Corporation Announces Life Sciences Instrument Sale to Top Research Center in Ontario.
Arrayit Corporation, November 27, 2013 8:59 AM, EST
SUNNYVALE, Calif.--(BUSINESS WIRE)--Arrayit Corporation (OTCBB: ARYC), a life sciences and molecular diagnostics leader, announces today that the company has sold a $166,000 NanoPrint LM60PRO Enterprise Level Protein Edition Microarray Printer and accessories to a top research center in Ontario, Canada. The Canadian researchers, featured widely in the national and international media, will utilize Arrayit’s patented technology to manufacture protein microarrays for exciting interdisciplinary research applications. Arrayit protein microarrays are powerful devices that contain miniaturized collections of intact proteins, the molecules that comprise the building blocks of all living organisms including humans, plants and animals. Protein microarrays empower researchers with the tools needed to study the structure and function of proteins, which are keys to understanding diverse fundamental research topics including the mode of action of pharmaceutical compounds, human disease progression, synthetic and stem cell biology, ecology and population genetics.
Arrayit has been selling its patented microarray technology since 1997 to empower the proliferation of microarray technology worldwide. Installed in more than 4,000 laboratories, Arrayit’s foundational technology has been used to manufacture an estimated 100,000,000 microarray devices in university laboratories, biotechnology, diagnostics and pharmaceutical companies, and government centers. The company uses revenue from its life sciences research sales for continued innovation, diagnostics research and development, and to keep pace with market leaders Agilent, Illumina and Affymetrix. The company’s research accounts also provide a continuous commercialization pipeline through structured licensing and royalty agreements with laboratories wishing to commercialize their important discoveries.
Arrayit recently completed a $1M equity capital raise and announced the opening of its new and expanded Sunnyvale headquarters on January 1, 2014, which will feature CLIA and ISO laboratories certified with the assistance of DOCRO, the clinical research organization leader from Oxford, Connecticut. DOCRO is also assisting the company in 510(k) submissions to the United States Food and Drug Administration for OvaDx® and PDx, the company’s pre-symptomatic diagnostic tests for ovarian cancer and Parkinson’s Disease. Arrayit is adding key members to its management and support teams to facilitate growth through organic revenue increases, targeted M&A and the continued infusion of equity capital.
About Arrayit Corporation
Arrayit utilizes its patented and proprietary microarray platform to lead and empower the genetic, research, pharmaceutical, and diagnostic communities through the discovery, development and manufacture of proprietary life science technologies and consumables for disease prevention, treatment and cure.
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We have identified forward-looking statements by using words such as "expect", "believe", and "should". Although we believe our expectations are reasonable, our operations involve a number of risks and uncertainties that are beyond our control, and these statements may turn out not to be true. Risk factors associated with our business, including some of the facts set forth herein, are detailed in the Company's Form 10-K for the fiscal year ended December 31, 2012 and in Form 10-Q for the quarterly period ended September 30, 2013.
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