Accelr8 Announces Extension of BACcel™ Industry Agreement, Funding, Updates on Pilot Studies
November 30 2010 - 6:45AM
Business Wire
Accelr8 Technology Corporation (NYSE Amex: AXK) announced
that it extended its technology evaluation agreement for its
BACcel™ rapid diagnostic system with a global diagnostics company.
The original agreement was announced on June 17, 2010. The
essential terms remain unchanged and continue the funding to
Accelr8 during the extended project period. The amended agreement
culminates no later than mid-2011. The project includes analysis of
ongoing pre-clinical and pilot studies at the Denver Health Medical
Center, and at the Barnes-Jewish Hospital in St. Louis (the
Washington University in St. Louis School of Medicine). It also
specifies certain technical milestones for product engineering and
test kit development.
Accelr8 also announced receiving a cash grant of $244,479 as
part of a new Internal Revenue Code 48D program created by the
Patient Protection and Affordable Care Act. This program provides a
tax credit or cash grant for qualifying R&D expenditures
related to advanced medical technology discovery and development.
The amount is the maximum awarded under the program.
According to David Howson, Accelr8’s president, “We are pleased
that our industry relationship is being extended.”
The company and independent principal investigators had reviewed
interim data in a clinical pilot study with ICU patients. Although
preliminary, the data are fully consistent with the development
objectives for diagnostic accuracy and speed. The investigators
have submitted the data for presentation at a major medical
congress.
“The preliminary data from the ongoing prospective pilot study
are consistent with those from remnant specimens. The BACcel™
system can reliably identify and count in less than 150 minutes
multiple targeted high-threat live organisms extracted directly
from patient specimens. We believe that our data show that we have
the first technology demonstrated able to support same-day guidance
for treating critically ill patients who acquire a serious
infection. The BACcel™ system has the breadth, speed, and accuracy
needed to confront the global spread of multi-drug resistant
‘superbugs,’ as they are labeled by the news media,” Howson
concluded.
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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