Meridian Licenses Molecular Test Technology from Eiken Chemical Co., Ltd.
CINCINNATI--(BUSINESS WIRE)--Oct. 25, 2006--Meridian Bioscience, Inc., (NASDAQ:VIVO) announced that it has completed a license agreement with Eiken Chemical Co., Ltd., Japan, for its "LAMP" (Loop-mediated Isothermal Amplification) technology. The LAMP technology is a cutting-edge nucleic acid amplification method that is simple to perform, rapid, highly specific and performed at a single temperature. Unlike other amplification methods, no specialized equipment is necessary to perform the assay or to determine the final result. Results are typically obtained 1 hour after the start of the assay. This license agreement allows Meridian to apply the LAMP technology for the detection of infectious diseases in the United States and 18 other geographic markets.
John A. Kraeutler, President and Chief Operating Officer, said, "This agreement represents a strategic milestone for Meridian. We believe the LAMP technology will expand our development capabilities allowing us to enter new emerging infectious disease markets and to expand our current product lines. We are very pleased with our new partnership with Eiken Chemical Company and look forward to optimizing the potential of LAMP."
FORWARD LOOKING STATEMENTS
The Private Securities Litigation Reform Act of 1995 provides a safe harbor from civil litigation for forward-looking statements accompanied by meaningful cautionary statements. Except for historical information, this report contains forward-looking statements which may be identified by words such as "estimates", "anticipates", "projects", "plans", "seeks", "may", "will", "expects", "intends", "believes", "should" and similar expressions or the negative versions thereof and which also may be identified by their context. Such statements are based upon current expectations of the Company and speak only as of the date made. The Company assumes no obligation to publicly update any forward-looking statements. These statements are subject to various risks, uncertainties and other factors that could cause actual results to differ, including, without limitation, the following: Meridian's 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. While Meridian has introduced a number of internally developed products, there can be no assurance that it will be successful in the future in introducing such products on a timely basis. Ongoing consolidations of reference laboratories and formation of multi-hospital alliances may cause adverse changes to pricing and distribution. Costs and difficulties in complying with laws and regulations 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. Changes in the relative strength or weakness of the U.S. dollar can change expected results. One of Meridian's main 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 successfully integrated into Meridian's operations.
Meridian is a fully integrated life science company that manufactures, markets and distributes a broad range of innovative diagnostic test kits, purified reagents and related products and offers biopharmaceutical enabling technologies. Utilizing a variety of methods, these diagnostic products and tests provide accuracy, simplicity and speed in the early diagnosis and treatment of common medical conditions, such as gastrointestinal, viral, urinary and respiratory infections. Meridian diagnostic products are used outside of the human body and require little or no special equipment. The Company's products are designed to enhance patient well-being while reducing the total outcome costs of healthcare. Meridian has strong market positions in the areas of gastrointestinal and upper respiratory infections, serology, parasitology and fungal disease diagnosis. In addition, Meridian is a supplier of rare reagents, specialty biologicals and related technologies used by biopharmaceutical companies engaged in research for new drugs and vaccines. The Company markets its products and technologies to hospitals, reference laboratories, research centers, veterinary testing centers, physician offices, diagnostics manufacturers and biotech companies in more than 60 countries around the world. The Company's shares are traded through Nasdaq's National Market, symbol VIVO. Meridian's website address is www.meridianbioscience.com.
CONTACT: Meridian Bioscience, Inc.
John A. Kraeutler, President, 513-271-3700
SOURCE: Meridian Bioscience, Inc.