Accelr8 Announces Continuation and Expansion of BACcel™ Development Collaboration
July 25 2011 - 8:00AM
Business Wire
Accelr8 Technology Corporation (NYSE Amex: AXK) announced
that Accelr8 and Novartis have extended their program agreement
through September 30, 2011. Having reviewed new data, Novartis will
now install a system in their own facility to expand development
capacity. While this project proceeds, the companies will continue
to negotiate and intend to agree upon business terms for a formal
business relationship and definitive Business Agreement by
September 30, 2011. The agreement also includes an option for
Novartis to further extend project support through January 2,
2012.
According to David Howson, Accelr8’s president, “Novartis’
decision to place a next-generation BACcel™ system into its own lab
adds another independent team of microbiologists. We believe that
this step reinforces our growing recognition in the medical
community as uniquely providing complete, same-day automated
diagnostics for ICU patients.”
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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