NEW YORK, March 6, 2006 (PRIMEZONE) -- Crystal Research Associates, LLC announced today that it has issued an Executive Informational Overview(r) (EIO(r)) on Denver, Colorado-based Accelr8 Technology Corporation (AMEX:AXK). The full 56-page report can be found at (www.crystalra.com), or on Accelr8 Technology Corporation's web site, (www.accelr8.com).
Accelr8 Technology Corporation is developing an innovative system to analyze bacteria in life-threatening infections, with the objective of providing the physician with species identity, bacterial counts, and specific antibiotic resistance by direct bacterial extraction from patient specimens and direct single-cell analysis without culturing. Culturing requires many hours or days of bacterial growth in order to isolate bacterial strains and test them.
Accelr8's proprietary Quantum Microbiology(tm) strategy eliminates these long growth cycles, allowing species identification and counting within two hours and antibiotic resistance testing within eight hours. Conventional culturing typically requires two to three days before providing results. Bacterial infection is still one of the top 10 causes of adult mortality in the U.S. and developed countries.
Rapid emergence and the global spread of antibiotic resistance, combined with a dramatic decline in the rate of new antibiotic development, has led to a crisis in treating serious infections. Delay in starting effective therapy increases morbidity and mortality from such infections. Widespread and evolving drug resistance increases the failure rate of initial treatment. Therefore, the Company has identified rapid analysis as the most promising and practical route to improving medical outcomes in critically ill patients who have a serious infection.
Accelr8 has initially targeted hospital acquired infections (HAIs) for its proprietary BACcelr8r(tm) Rapid Analytical System; specifically, ventilator-associated pneumonia (VAP) acquired in hospital intensive care units (ICUs). VAP is the leading infectious cause of death in the ICU, affecting approximately 250,000 people annually and causing up to 60,000 deaths per year. Accelr8 seeks to penetrate this large market segment, with a goal of licensing its technology to leaders in the diagnostic space.
About Crystal Research Associates, LLC
Crystal Research Associates, LLC is an independent research firm that provides institutional-quality fee-based research to small and mid-cap companies. The Company's unique and novel product, the Executive Informational Overview(r) (EIO(r)), is free of investment ratings, target prices, and forward-looking financial models. The EIO(r) presents a crystal-clear, detailed report on a company (whether public or private) in a manner that is easily understood by the Wall Street financial community. The EIO(r) details a company's product/technology/service offerings, market size(s), key intellectual property (IP), leadership, growth strategy, competition, risks, audited financial statements, key events and other such fundamental information. Crystal Research Associates has offices in New York City, Delray Beach, Montreal, and Toronto. Crystal Research Associates has been compensated by Accelr8 Technology Corporation in cash of $42,500. Please see back of report for complete Company disclosures.
Forward-Looking Safe Harbor Statement
Statements in this news release regarding future financial and operating results, future growth in research and development programs, potential applications of the Company's technology, opportunities for the Company and any other statements about the future expectations, beliefs, goals, plans, or prospects expressed constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words "will," "believes," "plans," "anticipates," "expects," "estimates," and similar expressions) should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including: limited operating history, need for future capital, risks inherent in the development and commercialization of potential products, protection of the Company's intellectual property, and economic conditions generally. Additional information on potential factors that could affect results and other risks and uncertainties are detailed from time to time in the Company's periodic reports, including the report on Forms 10-KSB, 10-QSB, 8-K, and other forms filed with the Securities and Exchange Commission ("SEC") from time to time.
These statements, and other forward-looking statements, are not guarantees of future performance and involve risks and uncertainties. Crystal Research Associates, LLC assumes no obligation to update any of the forward looking statements in this release.