Meridian Bioscience, Inc. (NASDAQ: VIVO), a leading provider of
diagnostic testing solutions and life science raw materials, is
pleased to announce its collaboration with QuantuMDx on its newly
launched SARS-CoV-2 assay for laboratory use.
The QuantuMDx assay incorporates and takes
advantage of Meridian’s proprietary Lyo-Ready 1-Step RT-qPCR master
mix, allowing for a fast and highly reproducible assay that is
stable at ambient temperature. Since the beginning of the
coronavirus outbreak, Meridian has enabled the manufacture of
millions of COVID-19 assays through its partnerships with over 35
diagnostic companies around the globe. In the last few months,
Meridian has multiplied its production capabilities to meet the
demand of its customers including QuantuMDx.
“Our partnership with QuantuMDx is a great
example of how Meridian’s master mixes can expedite assay
development and improve the quality and efficacy of a molecular
test,” said Todd Howren, Ph.D., Meridian’s Vice President of Global
Sales for Life Science. “We are proud to be a partner with
QuantuMDx in addressing the testing needs during this
pandemic.”
Colin Toombs, Vice President of Research &
Development for QuantuMDx said, “Meridian’s Lyo-Ready Mix was
critical to delivering the overall performance, sensitivity, and
runtime required for this assay. We look forward to our on-going
partnership with Meridian not only during this period of great
urgency, but also on future products in our assay pipeline.”
Meridian is committed to suppling innovative
solutions to the diagnostic industry during times of a pandemic
health crisis. For more information on partnering with Meridian
Bioscience, please visit meridianlifescience.com or contact:
todd.howren@meridianlifescience.com.
FORWARD-LOOKING STATEMENTSThe
Private Securities Litigation Reform Act of 1995 provides a safe
harbor from civil litigation for forward-looking statements
accompanied by meaningful cautionary statements. This press release
contains 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, which may
be identified by words such as “continues”, “estimates”,
“anticipates”, “projects”, “plans”, “seeks”, “may”, “will”,
“expects”, “intends”, “believes”, “signals”, “should”, “can” and
similar expressions or the negative versions thereof and which also
may be identified by their context. All statements that address
operating performance or events or developments that Meridian
expects or anticipates will occur in the future, are
forward-looking statements. Such statements, whether expressed or
implied, are based upon current expectations of the Company and
speak only as of the date made. Specifically, Meridian’s
forward-looking statements are, and will be, based on management’s
then-current views and assumptions regarding future events and
operating performance. Meridian assumes no obligation to publicly
update or revise any forward-looking statements even if experience
or future changes make it clear that any projected results
expressed or implied therein will not be realized. These
statements are subject to various risks, uncertainties and other
factors that could cause actual results to differ materially,
including, without limitation, the following: Meridian’s operating
results, financial condition and continued growth depends, in part,
on its ability to introduce into the marketplace enhancements of
existing products or new products that incorporate technological
advances, meet customer requirements and respond to products
developed by Meridian’s competition, its ability to effectively
sell such products and its ability to successfully expand and
effectively manage increased sales and marketing operations. While
Meridian has introduced a number of internally developed products
and acquired products, there can be no assurance that it will be
successful in the future in introducing such products on a timely
basis or in protecting its intellectual property, and unexpected or
costly manufacturing costs associated with its introduction of new
products or acquired products could cause actual results to differ
from expectations. Meridian relies on proprietary, patented and
licensed technologies. As such, the Company’s ability to protect
its intellectual property rights, as well as the potential for
intellectual property litigation, would impact its results. Ongoing
consolidations of reference laboratories and formation of
multi-hospital alliances may cause adverse changes to pricing and
distribution. Recessionary pressures on the economy and the markets
in which our customers operate, as well as adverse trends in buying
patterns from customers, can change expected results. Costs and
difficulties in complying with laws and regulations, including
those administered by the United States Food and Drug
Administration, can result in unanticipated expenses and delays and
interruptions to the sale of new and existing products, as can the
uncertainty of regulatory approvals and the regulatory process
(including the currently ongoing study and other FDA actions
regarding the Company’s LeadCare products). The international scope
of Meridian’s operations, including changes in the relative
strength or weakness of the U.S. dollar and general economic
conditions in foreign countries, can impact results and make them
difficult to predict. One of Meridian’s growth strategies is the
acquisition of companies and product lines. There can be no
assurance that additional acquisitions will be consummated or that,
if consummated, will be successful and the acquired businesses will
be successfully integrated into Meridian’s operations. There may be
risks that acquisitions may disrupt operations and may pose
potential difficulties in employee retention, and there may be
additional risks with respect to Meridian’s ability to recognize
the benefits of acquisitions, including potential synergies and
cost savings or the failure of acquisitions to achieve their plans
and objectives. Meridian cannot predict the outcome of goodwill
impairment testing and the impact of possible goodwill impairments
on Meridian’s earnings and financial results. Meridian cannot
predict the possible impact of U.S. health care legislation enacted
in 2010 – the Patient Protection and Affordable Care Act, as
amended by the Health Care and Education Reconciliation Act – and
any modification or repeal of any of the provisions thereof
initiated by Congress or the presidential administration, and any
similar initiatives in other countries on its results of
operations. Efforts to reduce the U.S. federal deficit, breaches of
Meridian’s information technology systems, trade wars, increased
tariffs, and natural disasters and other events could have a
materially adverse effect on Meridian’s results of operations and
revenues. In the past, the Company has identified a material
weakness in our internal control over financial reporting, which
has been remediated, but the Company can make no assurances that a
material weakness will not be identified in the future, which if
identified and not properly corrected, could materially adversely
affect our operations and result in material misstatements in our
financial statements. Meridian also is subject to risks and
uncertainties related to disruptions to or reductions in business
operations or prospects due to pandemics, epidemics, widespread
health emergencies, or outbreaks of infectious diseases such as the
coronavirus disease COVID-19. In addition to the factors
described in this paragraph, as well as those factors identified
from time to time in our filings with the Securities and Exchange
Commission, Part I, Item 1A Risk Factors of our most recent Annual
Report on Form 10-K contains a list and description of
uncertainties, risks and other matters that may affect the Company.
Readers should carefully review these forward-looking statements
and risk factors, and not place undue reliance on our
forward-looking statements.
About Meridian Bioscience,
Inc.Meridian is a fully integrated life science company
that develops, manufactures, markets and distributes a broad range
of innovative diagnostic products. We are dedicated to developing
and delivering better solutions that give answers with speed,
accuracy and simplicity that are redefining the possibilities of
life from discovery to diagnosis. Through discovery and
development, we provide critical life science raw materials used in
immunological and molecular tests for human, animal, plant, and
environmental applications. Through diagnosis, we provide
diagnostic solutions in areas including gastrointestinal and upper
respiratory infections and blood lead level testing. We build
relationships and provide solutions to hospitals, reference
laboratories, research centers, veterinary testing centers,
physician offices, diagnostics manufacturers, and biotech companies
in more than 70 countries around the world.
Meridian’s shares are traded on the
NASDAQ Global Select Market, symbol VIVO. Meridian’s website
address is www.meridianbioscience.com.
About QuantuMDx QuantuMDx Group
is an ambitious company with a global vision of empowering the
world to control and eradicate disease by making transformative,
quality point-of-care diagnostic technologies universally
accessible. QuantuMDx has operations and strategic partnerships in
the United States, Asia, Australasia, Europe and Africa – keeping
it at the forefront of molecular diagnostics. For more information
go to: www.quantumdx.com
Contact:Charlie WoodVice
President – Investor RelationsMeridian Bioscience, Inc.Phone: +1
513.271.3700Email: mbi@meridianbioscience.com
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