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|Quidel Announces Worldwide Commercialization of its Layered Thin Film™ Products|
|Düsseldorf, Germany (November 20, 2002) – Quidel Corporation (Nasdaq: QDEL), a leading provider of rapid point-of-care (POC) diagnostic tests, announced today at the MEDICA 34th World Forum for Medicine, the global commercialization of its first two diagnostic tests on the revolutionary LTF™ (Layered Thin Film) platform, the QuickVue® Advance pH and Amines test and the QuickVue® Advance G. vaginalis test. Both tests are important in addressing infectious vaginitis, the number one reason why a woman visits her physician.
LTF™ technology represents a significant investment by Quidel Corporation in developing an entirely new platform for rapid in vitro diagnostic tests. LTF™ tests are as small and thin as a credit card, extremely precise and easy-to-read. Most recently, Quidel received additional patent protection for the LTF™ technology to cover broad potential use in dried external positive and/or negative controls for many types of diagnostic tests. This supplements the built-in, specimen-activated procedural controls featured on the QuickVue® Advance tests.
“We anticipate a very positive reception to our LTF™ technology in the global markets. This platform provides a significant degree of differentiation from current lateral flow tests, with results that are read in minutes. Healthcare professionals can run these tests at the POC, enabling patients to benefit from a rapid diagnosis,” said S. Wayne Kay, president and chief executive officer of Quidel.
More About Quidel's QuickVue® Advance pH and Amines and Advance G. vaginalis tests Infectious vaginitis is the number one reason women visit a physician. The QuickVue Advance pH and Amines test contains two qualitative colorimetric tests for use in the characterization of vaginal fluid, a pH test and a test that detects alkali volatilizable amines. Combined with the evaluation of the vaginal discharge, these tests provide three of the four clinical, or Amsel, criteria necessary for the evaluation of bacterial vaginosis. Test results are read within 2 minutes as a plus (+) or minus (-) read-out.
The QuickVue Advance G. vaginalis test detects Gardnerella vaginalis Proline IminoPeptidase (PIP) enzyme activity from women suspected of having bacterial vaginosis (BV). Test results are read directly on the swab, which turns peach to pink to red within 5 minutes.
Quidel Corporation, a worldwide company helping women and their families live healthy lives, discovers, develops, manufactures and markets rapid POC diagnostic tests for the detection of medical conditions and illnesses. These tests provide diagnostic information that enables rapid treatment and improves health outcomes, lowers costs and increases patient satisfaction. Quidel's tests address conditions associated with women's health in areas such as reproduction and diseases of the elderly. The Company also provides POC diagnostics for infectious diseases, including influenza A and B, Strep throat, H. pylori infection, chlamydia, infectious mononucleosis and infectious vaginitis. Quidel's products are sold to healthcare professionals for use in physician offices, clinical laboratories and pharmacies, and to consumers through organizations that provide private label, store brand products. For more information, please visit Quidel's Web site at http://www.quidel.com.
This press release contains forward-looking statements within the meaning of the federal securities laws that involve material risk and uncertainties. Many possible events or factors could affect our future financial results and performance, such that our actual results and performance may differ materially. As such, no forward-looking statement can be guaranteed. Differences in operating results may arise as a result of a number of factors including, without limitation, seasonality, adverse changes in the competitive and economic conditions in domestic and international markets, actions of our major distributors, manufacturing and production delays or difficulties, adverse actions or delays in product reviews by the FDA and the lower acceptance of our new products than forecast. Forward-looking statements typically are identified by the use of terms such as “may,” “will,” “should,” “might,” “expect,” “anticipate,” “estimate” and similar words, although some forward-looking statements are expressed differently. The risks described under “Risk Factors” and in other sections of our Form 10-K for year ended December 31, 2001, and in other reports and registration statements that we file with the Securities and Exchange Commission from time to time should be carefully considered. You are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date of this presentation. We undertake no obligation to publicly release the results of any revision of the forward-looking statements.
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