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SQI Diagnostics Announces Agreement with Integrated Sciences in Australia

Tue, 02/14/2012 - 3:46am
The Associated Press

TORONTO--(BUSINESS WIRE)--Feb 14, 2012-- SQI Diagnostics Inc. (TSX-V: SQD), a medical systems automation company focused on evolving laboratory-based autoimmune biomarker testing, today announced it entered into an agreement with Integrated Sciences Pty Ltd, of Australia governing the exclusive marketing, sales and distribution of SQI Diagnostics' IVD products in the Australian marketplace commencing February 14th 2012.

"As one of the longest established suppliers of IVD and Life Science products in Australia we receive many requests from customers wanting assistance in improving their day to day functionality and they are overwhelmingly asking for automated multiplexed technologies to replace existing manual and semi-automated diagnostic test systems," said Mr. Michael Gaynor, Director of Integrated Sciences. "As modern medicine continues its rapid evolution, working with companies such as SQI supports our commitment to leverage new and innovative laboratory testing solutions in order to enhance our leadership position in the Diagnostics field." On June 1, 2007, the Australian Therapeutic Goods Administration signed a reciprocal Memorandum of Understanding with the Department of Health of Canada generally allowing diagnostic manufacturers of each signatory country to export product to the other country minimizing duplication of GMP assessments. The acceptance of GMP certificates and the Canadian Medical Device License for IVD products greatly reduces the regulatory burden.

"Integrated Sciences is a great partner to go to market with in Australia," said Claude Ricks, President and CEO of SQI Diagnostics.

"In our opinion they possess the right combination of high quality product offerings, experience, and customer exposure with high volume reference labs. We are looking forward to initiating the process of introducing the SQiDworks platform and IgX plex quantitative celiac kits and building a long-term relationship and product line-up with Integrated Sciences." SQI Diagnostics continues to evaluate and seek strategic partners in geographies outside of Canada for our IVD diagnostic products as well as our Diagnostic Tools and Services business where we provide custom microarray printing, assay development, automated analytical systems and software to companies seeking to transition existing single-plex IVD or RUO tests into multiplexed panels. Our Diagnostic Tools and Services products are focused on adding value for our customers where the transition to multiplexing leads to an improvement in testing efficiency and total cost to deliver results.

About Integrated Sciences Integrated Sciences, established in 1983, is an Australian owned business which supplies both the Australian Diagnostics and Life Science markets. The company ethos of "Our strategy is support" means exactly that. Integrated Sciences offers leading international quality products with the highest levels of technical support, service and performance. Integrated Sciences has offices in the major cities of Australia.

For more information, please visit www.integratedsci.com.au.

About SQI Diagnostics SQI Diagnostics is a life sciences company that develops and commercializes proprietary technologies and products for advanced microarray diagnostics. SQI provides laboratories the ability to simultaneously analyze multiple biomarkers, deliver accurate patient results in less time, significantly reduce labour, and increase profits...All in One Drop. For more information, please visit www.sqidiagnostics.com.

FORWARD-LOOKING INFORMATION This press release contains certain forward-looking statements, including, without limitation, statements containing the words "may", "plan", "will", "estimate", "continue", "anticipate", "opinion", "intend", "expect", "believe", "in the process", "is subject to" and other similar expressions which constitute "forward-looking information" within the meaning of applicable securities laws.

Forward-looking statements reflect the Company's current expectation and assumptions, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Company's ongoing filings with the securities regulatory authorities, which filings can be found at www.sedar.com . Actual results, events, and performance may differ materially. The forward-looking statements in this press release include, without limitation, statements with respect to sales of our IgX plex(TM) Celiac product and SQiDworks and other analytical systems, agreements and future agreements to sell our products in Australia. These forward-looking statements involve risks and uncertainties including, but not limited to, our expectations regarding sales of our IgX plex(TM) Celiac product, exchange rates fluctuations and interest rates fluctuations, general economic and market segment conditions, competitor activity, technology changes, regulatory approvals and international risk and currency exchange. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S.

Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CONTACT: SQI Diagnostics Inc.

Andrew Morris, 416-674-9500 ext. 229 Chief Financial Officer amorris@sqidiagnostics.com or Integrated Sciences Pty Ltd Ros Roots, +61 2 9417-7866 National Product Manager Diagnostics rroots@integratedsci.com.au KEYWORD: AUSTRALIA NORTH AMERICA CANADA AUSTRALIA/OCEANIA INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY MEDICAL DEVICES OTHER HEALTH SOURCE: SQI Diagnostics Inc.

Copyright Business Wire 2012 PUB: 02/14/2012 08:00 AM/DISC: 02/14/2012 08:00 AM http://www.businesswire.com/news/home/20120214005383/

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