Corporate - Media & Press - Press Release
Arrayit Corporation Signs Exclusive Distributorship Agreement With DHK Medical Products for Genome Testing in India
By GlobeNewswire, June 26, 2013, 12:35:00 PM EDT
SUNNYVALE, Calif., June 26, 2013 (GLOBE NEWSWIRE) -- Arrayit Corporation (OTCQB:ARYC), a life sciences and diagnostics company, announced today that it has signed an exclusive three-year distributorship agreement with DHK Medical Products ("DHK") of Chandigarh India to sell Arrayit genomic tests in India. DHK will offer Arrayit genomic testing services through a planned expanding national network of 800 American Medical Center (AMC) facilities in the future and staffed with medical doctors, nurses, pharmacists and other highly trained personnel. AMC facilities will provide walk-in medical services from 7 AM to 11 PM seven days a week to support the changing Indian culture, which is experiencing rapid industrialization and upward social mobility. India is the most populous democracy in the world, with more than 1.2 billion people including 400 million residents in the increasingly affluent Indian middle class.
Arrayit and DHK will use Arrayit's patented and proprietary Variation Identification Platform (VIP) microarray technology and blood card collection procedure to provide genomic testing information to the Indian population including genetic predisposition data for hypertension, obesity, diabetes, cardiovascular disease, breast and ovarian cancer, Parkinson's Disease and other conditions. Arrayit VIP microarrays identify single nucleotide polymorphism (SNP) variants in a patient's DNA code in a rapid, affordable and highly accurate manner. DHK medical doctors will communicate the test results to patients and provide on-site counseling and treatment options for individuals predisposed to the tested conditions. DHK estimates the sale of 25,000, 50,000 and 100,000 genomic tests per year over the three-year contract, with cumulative revenue to Arrayit totaling $16.8MM U.S. dollars. Arrayit VIP technology is uniquely scalable to millions of patients in the Indian market.
Arrayit Corporation CEO Rene Schena states, "We are pleased to be working with DHK Medical Products to deliver high-quality, cost-effective genomic information to planned healthcare centers across India, with the goals of improving the lives of families and reducing healthcare costs." DHK Medical Products CEO Dr. Kaura adds, "Arrayit technology is empowering us to capture the fast-growing Indian healthcare market by offering DNA testing services and unprecedented genomic information to medical professionals in real time and on-location. The Arrayit-DHK partnership gives us the testing and clinical infrastructure required to improve healthcare in India, enabling our citizens to live happier, longer and more productive lives."
About Arrayit Corporation
Arrayit 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.
Powerful Science for Life
Visit www.arrayit.com for more information.
About DHK Medical Products
DHK provides technologically advanced products and services for the defense, information technology and healthcare sectors. DHK's human health division delivers innovative medical solutions of the highest quality by leveraging superior technology in a cost-effective manner. Our strength is our ability to identify market needs and to develop and distribute products to fill those needs. We understand and fulfill the unique requirements of our customers through a dedicated staff of professionals.
We develop ideas into reality through innovation and technology
Visit www.nexgenxmedical.com for more information.
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/A for the fiscal year ended December 31, 2012 and in Form 10-Q for the quarterly period ended March 31, 2013.
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