Newark, Delaware
May 8, 2002
Strategic Diagnostics Inc.
(Nasdaq: SDIX) today announced the signing of an exclusive
commercial license agreement with
Syngenta Seeds AG.
The agreement confers to SDI the worldwide rights to manufacture
and sell analytical tests to detect two of Syngenta's genetic
traits in plants, seeds, grain and intermediate food products.
These genetic traits are to be deployed in a variety of
applications in agriculture and the food chain and will provide
significant benefits to the users.
Dr. Bruce Lee of Syngenta commented, "We are delighted to work
with SDI in connection with these significant assets of
Syngenta. SDI has demonstrated throughout the course of our
relationship, and to the AgBiotech industry generally, the
ability to develop, manufacture and sell high quality,
analytical methods that provide accurate information in a rapid
test format. We believe these same attributes will benefit our
customers in the years ahead."
Richard C. Birkmeyer, President and CEO of SDI commented, "We
are gratified by the trust Syngenta, a leading developer of
genetic innovations, has placed in SDI. We have worked
diligently over many years to establish a market-leading
position in analytical testing. With this relationship, we
believe SDI is uniquely positioned to continue to provide the
marketplace with tests for every significant genetic trait in
commercial production."
In a separate development, the Company announced that the USDA
Grain Inspection, Packers and Stockyards Administration (GIPSA)
has issued its certification of the MycoCheck(TM) test kit for
the detection of aflatoxin, which is the most common mycotoxin.
The market for test kits for the detection of mycotoxins is
estimated to be $22-25 million annually. SDI's family of tests
offers meaningful competitive advantages. All the MycoCheck(TM)
test kits are in a format that allows easy, visual,
semi-quantitative analysis as well as instrument based
quantitative analysis. The Company believes that these
competitive advantages and its existing customer relationships
established with major food manufacturers position the Company
to attract a meaningful market share of mycotoxin kit sales.
SDI is a leading provider of biotechnology-based diagnostic
tests for a broad range of agricultural, industrial, and water
treatment applications. Through its antibody business, Strategic
BioSolutions, Strategic Diagnostics also provides antibody and
immunoreagent research and development services. SDI's test kits
are produced in a variety of formats suitable for field and
laboratory use, offering advantages of accuracy,
cost-effectiveness, portability, and rapid response. Trait
Check(TM), GMO
QuickCheck(TM), and GMO Check(TM) are pending trademarks for
SDI.
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