CHATSWORTH, Calif., March 25, 2004 (PRIMEZONE) -- IRIS International, Inc. (AMEX:IRI), a manufacturer and marketer of automated IVD urinalysis systems and medical devices used in hospitals, clinics and reference laboratories worldwide, today announced that its StatSpin(r) subsidiary has entered into a supply agreement with DakoCytomation, and made its first shipment of its new denaturation and hybridization station for performing one of the important steps in fluorescent in situ hybridization (FISH) procedures.
Under the three-year agreement, initial delivery of systems to Copenhagen-based DakoCytomation, an international supplier of diagnostics solutions for the medical industry, are scheduled to commence in the first quarter of 2004. The first order for multiple units was shipped on Wednesday, March. 24.
"We are extremely pleased to have been chosen the supplier of choice by DakoCytomation," stated Robert Mello, StatSpin's President. "Our proven track record in rapid sample processing, high quality products, and our ability to move quickly in the medical device field played a significant role in StatSpin's selection to provide this unique device."
Cesar Garcia, President and Chief Executive Officer of IRIS International, noted that StatSpin has always excelled in high quality products and service for clinical and veterinary laboratories. "FISH has become a mainstream technology for molecular pathology procedures performed in diagnostic laboratories and our core competencies in rapid sample processing and small laboratory instrumentation allows us to enter this growing market segment," he stated. "This contract represents an important step in our strategy to broaden the StatSpin Division's product portfolio into higher value testing markets with existing and new products."
The programmable system automates the denaturation and hybridization steps in slide-based FISH procedures, and provides walk-away convenience for clinical and research personnel. The low cost unit accepts a wide range of sample types, is easy to use and reduces hands-on time by more than 50% and ensures overall precision and accuracy in all FISH assays. DakoCytomation will market the product under the Hybridizer brand.
About DakoCytomation
DakoCytomation A/S is a leading in vitro diagnostic company specializing in the identification of cancer markers on samples obtained from tissue and body fluids. DakoCytomation's cutting-edge technology in immunochemistry, protein chemistry and instrument development enables physicians around the world to link diagnostic tests with specific therapies, thus optimizing patient treatment. The privately held company, headquartered in Copenhagen, Denmark, with significant R&D and manufacturing activities in the USA and the United Kingdom, has operations in 22 sites and distributors in 50 countries. DakoCytomation employs more than 1300 people worldwide.
About The Company
IRIS International, Inc. (www.proiris.com) is a leader in automated urinalysis technology with workstations in major medical institutions throughout the world. The Company's newest generation iQ(r)200 fully automated urine microscopic analyzer utilizing image flow cytometry, patented Automated Intelligent Microscopy (AIM) technology and neural network-based particle recognition capabilities achieves a significant reduction in the cost and time consuming steps for manual microscopic analysis. The Company's StatSpin(r) subsidiary, based in Norwood, Mass., manufactures innovative centrifuges and blood analysis products. Advanced Digital Imaging Research, LLC (ADFIR), based in the Houston, Texas, area, is the Company's research and development subsidiary.
SAFE HARBOR PROVISION
This news release contains forward-looking statements made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, the Company's views on future commercial revenues, market growth, capital requirements, new product introductions, and are generally identified by phrases such as "thinks," "anticipates," "believes," "estimates," "expects," "intends," "plans," and similar words. Forward-looking statements are not guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statement. These statements are based upon, among other things, assumptions made by, and information currently available to, management, including management's own knowledge and assessment of the Company's industry, competition and capital requirements. Other factors and uncertainties that could affect the Company's forward-looking statements include, among other things, the following: the acceptance by customers of our new iQ200 product platform, our substantial expansion of international sales and our reliance on key suppliers, the potential need for changes in long-term strategy in response to future developments; future advances in diagnostic testing methods and procedures, as well as potential changes in government regulations and healthcare policies, both of which could adversely affect the economics of the diagnostic testing procedures automated by the Company's products; rapid technological change in the microelectronics and software industries; and increasing competition from imaging and non-imaging based in-vitro diagnostic products. The Company refers interested persons to its most recent Annual Report on Form 10-K and its other SEC filings for a description of additional uncertainties and factors that may affect forward-looking statements. The Company assumes no duty to update its forward-looking statements.