Corporate - Media & Press - Press Release
Arrayit Corporation Announces Manufacturing Breakthrough
Enhanced Automated Microarray Printing Bandwidth Increases Company's Competitiveness in the Diagnostics Marketplace
Source: Arrayit Corporation
On 7:00 am EST, Tuesday December 22, 2009
SUNNYVALE, Calif., Dec. 22 /PRNewswire-FirstCall/ -- Arrayit Corporation (OTC Bulletin Board: ARYC), a life sciences and healthcare technology leader, today announced that the Company has made a technological breakthrough in the speed and efficiency by which it manufactures its proprietary microarrays, which are tiny glass substrates that contain rows and columns of printed spots used for scientific research and molecular diagnostics. The advance allows highly precise printing of as many as 2.4 million microarrays per year with a single robotic workstation, a significant increase over the Company's current capacity of 640,000 microarrays per instrument annually.
Arrayit Executive Vice President and Co-Founder Todd Martinsky stated, "This technological advance represents an engineering tour de force that combines our expertise in laboratory automation, linear drive robotics, micromachining, surface chemistry and contact printing. Leveraging our core tech competencies and patented contact printing platform in this manner should further enhance our competitive differentiation in the diagnostics market."
Arrayit is currently developing early stage definitive diagnostic tests for Ovarian Cancer, Parkinson's Disease, H1N1 and other illnesses. The Pre-Symptomatic Ovarian Cancer Diagnostic Test, OvaDx, will be marketed and sold upon FDA approval by the Company's Houston-based subsidiary Arrayit Diagnostics, Inc. The worldwide market for OvaDx is estimated at 175 million microarray tests annually.
About Arrayit Corporation
Arrayit Corporation, headquartered in Sunnyvale, California, leads and empowers 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. Â It now offers over 650 products to a customer base of more than 10,000 laboratories worldwide, including almost every major university, pharmaceutical and biotechnology company, major agricultural and chemical companies, government agencies, national research foundations and many private sector enterprises. Please visit http://www.arrayit.com/ for more information.
About Arrayit Diagnostics, Inc.
Houston-based Arrayit Diagnostics, Inc., a majority-owned subsidiary of Arrayit Corporation, is actively engaged in developing and commercializing a series of proprietary microarray-based diagnostic tests that provide for early detection of cancers, neurodegenerative diseases and other chronic and severe disease states.
Safe Harbor Statement
Except for historical information contained herein, statements made in this release that constitute forward-looking statements are based on currently available information, involve certain risks and uncertainties and the Company assumes no responsibility to update any such forward-looking statement. The following factors, among others, may cause actual results to differ materially from the results suggested in the forward-looking statements. Risks that may result from changes in the Company's business operations; our ability to keep pace with technological advances; significant competition in the biomedical business; our relationships with key suppliers and customers; quality and consumer acceptance of newly introduced products; market volatility; non-availability of product; excess inventory; price and product competition; new product introductions, the outcome of our legal disputes; the possibility that the review of our prior filings by the SEC may result in changes to our financial statements; and the possibility that stockholders or regulatory authorities may initiate proceedings against Arrayit and/or our officers and directors as a result of any restatements. Risk factors associated with our business, including some of the facts set forth herein, are detailed in the Company's Form 10-K/A for the fiscal year ended December 31, 2008 and Form 10-Q/A for the fiscal first quarter ended March 31, 2009, Form 10-Q/A for the fiscal second quarter ended June 30, 2009 and Form 10-Q for the fiscal third quarter ended September 30, 2009.
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