Corporate - Media & Press - Press Release
Arrayit Corporation Announces Microarray Platform Sale to Leading Laboratory in Israel.
Arrayit Corporation, November 22, 2013 8:00 AM, EST
Arrayit Corporation (ARYC), a life sciences and molecular diagnostics leader, announces today that the Company has sold a $129,548 NanoPrint LM60 Enterprise Level Microarray Printer to a leading research laboratory in Tel Aviv, Israel. Arrayit NanoPrint instruments enable microarray manufacturing in a high-throughput and highly automated manner using advanced linear drive motion control and linear encoders that permit nanometer positional resolution. Microarrays are biomedical devices that contain genes, proteins, antibodies and other molecules from the human genome and proteome printed at high-density on glass substrates. Patient samples are labeled and reacted with microarrays to provide answers to human health including the pre-symptomatic detection of cancer, autoimmune disease, and other treatable conditions.
In 2010, Arrayit received Israeli Patent Number 153848 covering microarray methods for DNA testing, to improve the economies of scale in genotyping by allowing thousands of patient DNA samples to be simultaneously tested. The NanoPrint sale to Tel Aviv, the issued 848’ patent and other recent developments underscore Arrayit’s commitment to providing its patented and proprietary technology to Israel in furtherance of leading-edge life sciences research, diagnostics and an increasingly advanced health care system. The Company is currently seeking a joint-venture partner is Israel to further expand sales in this important economy.
Arrayit recently announced a 51% year-over-year quarterly sales increase in the third quarter ended September 30, 2013, with profitability and a $1.48M net income improvement over 2012 for the first nine months of this year. The Company also announced the appointment of renowned biotech analyst Sid Taubenfeld to the Board of Directors, the opening of the Company’s new corporate headquarters in Sunnyvale, California USA on January 1, 2014, and the completion of a $1M equity capital raise with funds to be used for Company growth and expansion.
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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Safe Harbor Statement
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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