Newark, New Jersey
January 12, 2005
Strategic Diagnostics Inc. (Nasdaq:
SDIX) -- a leading provider of antibody products and
analytical test kits for the food-safety and water-quality
markets, today announced the release of its new,
second-generation test to detect the use of unauthorized
herbicide-resistant soybeans in Brazil. Developed in cooperation
with a leading, multi-national, agricultural biotechnology
company, the test will enable SDI's customer to collect
royalties from unauthorized soybean seed grown primarily in the
southern Brazilian states of Rio Grande do Sul and Santa
Caterina.
The second
generation test offers an array of new benefits, including
increased testing speed, improved accuracy and reduced costs.
This replaces the first generation product sold for the same
purpose which was introduced in the first quarter of 2004. The
product launch is expected to result in increased sales
beginning during the fourth quarter of 2004 and continuing
throughout 2005. The potential scope of the testing is still not
clearly defined, but SDI expects that the overall volume of
testing for this purpose has increased 24 percent on an
annualized basis. The Company will utilize its Brazilian
distribution partner to deliver the product to the customer.
Matthew
Knight, President of SDI commented, "We are delighted to
complete the development of the new Trait (check) RUR AT Test
Strips®, which helped earn us this contract for the second
consecutive year. The entire process was driven by our new Stage
and Gate development process termed 'Design Check.' This process
successfully highlights our organization's ability to complete
well-defined development programs on accelerated schedule. In
addition to reinforcing SDI's position as the leading provider
of on-site testing technology for the GMO testing market, this
project has significantly enhanced the company's overall
technical knowledge and manufacturing capability on a strategic
test platform. The new precision of this test will serve as a
model for the market to adopt rapid, on-site testing to monitor
the unauthorized use of genetic traits. We believe this will not
only protect our clients' patent and intellectual property
rights, but will also maximize their inherent revenue
opportunities."
Strategic
Diagnostics Inc. is the world-leading provider of the rapid
agricultural GMO test methods for determining presence of
genetically modified organisms in seed, grain, and processed
foods. SDI technology is used by agricultural biotechnology
companies, seed developers and grain handlers to rapidly and
cost-effectively determine the presence of genetically modified
traits for quality control and identity preservation.
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.
TraitChek(TM), GMO QuickChek(TM), and GMOChek(TM) are pending
trademarks for SDI. |