Market Overview

SQI Diagnostics completes sale of sqid-X(TM) diagnostic system to University of Buffalo

Share:

The first commercial sqid-X system sale to be used to triage COVID-19 patients in New York state

TORONTO, May 5, 2020 /CNW/ - SQI Diagnostics Inc. (TSXV:SQD, OTCQX:SQIDF), a life sciences and diagnostics company that develops and commercializes proprietary technologies and products for advanced microarray diagnostics ("SQI"), has completed the sale of a sqid-X™ system to the University of Buffalo ("UB") for the purpose of using SQI's RALI-Dx™ Inflammatory Response Panel. This represents the first capital sale of an SQI system to be used in the testing of COVID-19 patients.

The instrument will be housed at KSL Laboratories in Buffalo, NY. KSL is a partner of UB and is a part of the front-line effort against the pandemic in the hard-hit state of New York.

RALI-Dx, a panel run in less than one hour, is comprised of several biomarkers indicative of acute lung injury. These markers have been shown to give a clinician insight into whether a patient can be treated and released for self-monitored home care, admitted to a standard hospital unit, or is likely to develop severe life-threatening symptoms requiring immediate intensive care unit (ICU) admittance and advanced respiratory care measures. This ability to objectively triage COVID-19 patients in less than one hour is could be a diagnostics industry first.

The data from clinical studies currently being conducted by SQI's Canadian and U.S. partners, which are expected to generate useful data within the next few months, are intended to be used to file for Emergency Use Authorization (EUA) from the FDA and its Health Canada equivalent. If approved, this could represent the first prognostic COVID-19 assay to be allowed to be put into clinical use. There are more than 50 diagnostic tests for COVID-19 that have received an EUA designation from the FDA, however none of those tests are prognostic in nature or have the ability to triage patients' treatment pathway.

"We are proud and excited to be partnering with such a prestigious institution that is working tirelessly on the front line of the war against the disease," said Eric Brouwer, PhD interim CEO of SQI. "RALI-Dx will not just be first-to-market, but will be best-in-market, and SQI hopes to provide clinicians with this significant weapon to assist in those efforts as soon as possible."

About SQI Diagnostics

SQI Diagnostics is the life sciences and diagnostics company that develops and commercializes proprietary technologies and products for advanced microarray diagnostics. The Company's proprietary microarray tests and fully-automated systems are designed to simplify protein and antibody testing workflow, increase throughput, reduce costs and provide excellent data quality. For more information, please visit www.sqidiagnostics.com.

Sales and Marketing Contact:

Vice President, Global Commercial Operations
Russ Peloquin
913.484.9022
rpeloquin@sqidiagnostics.com

SQI Investor Relations Contact:

Interim Chief Executive Officer                                                  
Eric Brouwer, PhD                                                                    
416.674.9500 ext. 242                                                   
ebrouwer@sqidiagnostics.com          

Cision View original content:http://www.prnewswire.com/news-releases/sqi-diagnostics-completes-sale-of-sqid-xtm-diagnostic-system-to-university-of-buffalo-301052367.html

SOURCE SQI Diagnostics Inc.

Cision View original content: http://www.newswire.ca/en/releases/archive/May2020/05/c0178.html

View Comments and Join the Discussion!
 
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com