AdvanDx Receives Rapid In-Vitro Diagnostic Technology Innovation Of The Year Award For 2008

Main Category: Medical Devices
Article Date: 21 Mar 2008 - 9:00 PDT

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AdvanDx announced it received Frost & Sullivan's 2008 Technology Innovation of the Year Award in the field of rapid in-vitro molecular diagnostic technology. The award recognizes how hospitals depend on AdvanDx's easy-to-use, molecular-based PNA FISH™ diagnostics to quickly identify bloodstream pathogens in hours instead of days. The rapid PNA FISH results enable laboratories to report critical information to physicians and pharmacists earlier to ensure optimal therapy and help reduce mortality rates for patients afflicted with bloodstream infections.1,2

Frost & Sullivan's team of industry analysts conducted over 400 hours of analysis in the diagnostics market. "During the process of conducting the research, it became clear that AdvanDx would be a strong candidate to receive the in-vitro molecular diagnostic technology innovation of the year award," said Abhishek Dutta, Research Analyst, Frost & Sullivan. "PNA FISH is an extremely innovative technology platform that prevents the unnecessary use of drugs, enables doctors to make rapid diagnoses, treat patients sooner, save lives and significantly reduce costs throughout all areas of the hospital. As a result, AdvanDx is diversifying into new product lines that will enable the firm to explore new, multi-billion dollar in-vitro diagnostic markets," Dutta added.

"This Award further validates the impact of AdvanDx's molecular diagnostic products in the marketplace," said Thais T. Johansen, President and CEO of AdvanDx. "We appreciate that Frost & Sullivan has formally recognized the fundamental breakthrough value of our technology platform to provide clinicians with critical information as early as possible to help guide patient care, improve outcomes, and reduce hospital length-of-stay and costs. There are many diagnostic products, so it was particularly noteworthy that AdvanDx has been singled out for recognition," Johansen concluded.

Research Methodology and Selection Process Criteria

To choose The Technology Innovation of the Year Award recipient, Frost & Sullivan's analyst team conducted a selection process that included primary interviews and extensive primary and secondary research via a bottom-up approach. The analyst team considered AdvanDx's pace of research and technology innovation and its significance and relevance to the overall industry. The ultimate Award recipient was selected after a thorough evaluation of this research.

The recipient of the Award has excelled based on the following criteria:

-- Significance of AdvanDx's technology in the industry
-- Potential of AdvanDx's technology/products to become an industry standard
-- Competitive advantage of AdvanDx's technology when compared to competing technologies -- Ease of adoption of AdvanDx's technology
-- Breadth of intellectual property related to the innovation (e.g., patents, coverage in scientific -- publications, papers and in peer-reviewed articles).

About Frost & Sullivan

Frost & Sullivan, the Growth Consulting Company, partners with clients to accelerate their growth. The company's Growth Partnership Services, Growth Consulting and Career Best Practices empower clients to create a growth-focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents. For more information, visit www.frost.com.

About AdvanDx

AdvanDx is the world's leading provider of fast, accurate and easy-to-use in vitro molecular diagnostic products that advance the prevention, diagnosis and treatment of infectious pathogens. AdvanDx's products and services enable dramatic improvements in patient care and outcomes while reducing hospital costs. Every year, 350,000 patients contract bloodstream infections, causing over 90,000 unnecessary deaths and significant costs to the healthcare system. The rapid identification of infecting pathogens is crucial to ensure early and appropriate therapy to save lives and reduce patient length-of-stay. In response, AdvanDx leverages its molecular diagnostic products to detect and identify infectious pathogens and provide therapy-directing results in hours versus days.

AdvanDx's easy-to-use products employ standard lab techniques and equipment to reduce startup, implementation, technician and maintenance time, while providing fast results without sacrificing accuracy. Major medical centers, reference labs, government institutions and community hospitals throughout the United States, Europe and Asia rely on AdvanDx products, supported by a global network of service partners.

www.AdvanDx.com

References:

1 - Toombs et al. Impact of peptide nucleic acid (PNA) fluorescence in situ hybridization (FISH) for Enterococcal bloodstream infections. Abstract Presentation 131. IDSA 2006. Toronto, Canada.

2 - Ly et al. Impact Upon Clinical Outcomes of Translation of PNA FISH generated Laboratory Data From the Clinical Microbiology Bench to Bedside in Real Time. Poster 358. SHEA 2007. Baltimore, Maryland.