NEW YORK (360Dx) – SQI Diagnostics this week said that revenues for its fiscal third quarter ended June 30 were C$176,000, down 25 percent from C$235,000 for the prior-year quarter.
The firm said that the year-over-year dip is primarily related to a reduction in service-based revenues during Q3 2017, which was due to the transition from performing "intensive product development” for diagnostic customers. During this transition, the firm's customers completed validating SQI's systems in their labs, and validation kit sales are lower than service-based revenues, the firm said in a statement.
For Q3, SQI's R&D expenses were nearly flat year over year at C$848,000 compared to C$846,000 in the prior-year quarter. Its corporate, general, sales, and marketing expenses rose 15 percent to C$585,000 from C$509,000.
To help labs stay in compliance with regulations from the Centers for Medicare and Medicaid Services, the College of American Pathologists released its 2017 edition of laboratory accreditation program checklists containing about 3,000 requirements used during laboratory accreditation inspections. CAP inspection teams use the checklists as a guide to evaluate a lab’s overall management and operation, and CAP reviews 21 discipline-specific checklists to maintain program stringency and the highest standards of patient care, while reflecting advancements in medicine, technology, and lab management.
ChromaDex signed a definitive agreement to sell its analytical testing services to Laboratory Corporation of America. The deal, whose terms were not disclosed, is expected to close in early September. LabCorp will offer the analytical testing services through its Covance Food Solutions business. ChromaDex is a provider of health, wellness, and nutritional ingredients.
Private equity firm Excellere Partners made a strategic investment of an undisclosed amount in Biocare Medicare, a provider of immunohistochemistry instruments and reagents for IHC and molecular testing. The investment gives Biocare the strategic and financial resources to enhance and accelerate its growth opportunities, Excellere said. They include pursuing complementary partnerships with other reagent and diagnostic businesses.
Qiagen and Clinical Genomics announced a partnership to use the PAXGene Blood ccfDNA Tube for collection and handling of blood samples in the Clinical Genomics' Colvera colorectal cancer recurrence assay workflow. The PAXGene Blood ccfDNA system was developed by PreAnalytix, a Qiagen/Becton Dickinson joint venture.
Colvera is a PCR-based assay that detects hypermethylated BCAT1 and IKZF1 DNA in the blood of patients. Qiagen and Clinical Genomics said that they have demonstrated that assay performance using the PAXGene product is equivalent to its performance using blood samples collected in EDTA tubes, spun down to plasma, and frozen within eight hours of collection.
Streck announced that it inked an agreement with TK Biotech, a distributor of molecular biology and biotech-assisted reproduction products in Poland. Under the terms of the agreement, TK Biotech has distribution access to Streck’s portfolio of controls, cell stabilization, and molecular products.
Streck’s cell stabilization products include its Cyto-Chex BCT blood collection tube for the preservation of whole-blood specimens for immunophenotyping by flow cytometry, among other products.
Its molecular product line includes the Arm-D Kits for the detection of antibiotic-resistance genes by multiplex real-time PCR, and a rapid real-time PCR instrument, the Zulu RT, which it expects to soon launch.
Financial and other terms of the deal were not disclosed.
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