CHATSWORTH, Calif., June 11, 2003 (PRIMEZONE) -- International Remote Imaging Systems, Inc. (AMEX:IRI), a manufacturer and marketer of automated IVD urinalysis systems and medical devices used in hospitals and reference clinical laboratories worldwide, today announced that its Advanced Digital Imaging Research, LLC (ADIR) subsidiary has been awarded a $669,620 Phase 2 Small Business Innovative Research Grant from the National Institute of Child Health and Human Development (NICHD), one of the National Institutes of Health (NIH).
The project, entitled "Improved Classifiers for Automated Multiplex FISH," seeks to develop automated instruments that can better diagnose cancer and genetic disease using modern DNA probe techniques. FISH (fluorescence in-situ hybridization) is the technique of labeling specific DNA sequences with different colored fluorescent dyes.
"Multiplex FISH has become an important new technique for genetic diagnosis," stated Dr. Kenneth Castleman, President of ADIR. "This project will allow us to develop improvements in the automation of those tests."
Dr. Kshitij Mohan, President and Chief Executive Officer of International Remote Imaging Systems, said, "The multi-color image analysis software being developed by ADIR constitutes a valuable asset for the Company. It will be useful in a wide variety of medical and industrial applications. It represents another example of the ability of our ADIR subsidiary to lead the way in the development of new and rewarding medical technologies."
The research grant provides for a two-year study to be carried out in collaboration with Dr. Lisa Shaffer of Washington State University at Spokane, Wash., and Dr. Michael Cornforth of the University of Texas Medical Branch at Galveston, Texas. ADIR's Dr. Castleman is the Principal Investigator on the project.
Fluorescence in-situ hybridization is increasingly used in genetics for both diagnosis and research. Multiplex FISH (M-FISH) paints all 24 types of chromosomes in a human cell in different colors. This makes it easy to determine if any of the genetic material on the chromosomes has been lost or rearranged, as in cancer and inherited diseases. The 46 human chromosomes are the packages that hold the DNA in every cell. The DNA, in turn, holds the genetic blueprint for the human body.
Commercially available instruments can analyze the colors of M-FISH painted chromosomes to report abnormal arrangements of DNA. The accuracy of these instruments, however, is limited, thus restricting their ability to detect very subtle DNA rearrangements. This project is designed to develop improved mathematical techniques for analyzing images of M-FISH labeled chromosomes. The result will be improved software for use in clinical and research instruments.
THE COMPANY
Advanced Digital Imaging Research, LLC (ADIR) is a wholly owned research and development subsidiary of International Remote Imaging Systems, Inc. ADIR, based in the Houston, Texas area, assists in the advancement of proprietary imaging technology while conducting government-sponsored research and development in medical imaging and software, and contract research for corporate clients.
International Remote Imaging Systems, Inc. has an established reputation as a leader in automated urinalysis technology and image flow cytometry. The Company's Iris Diagnostics Division is a leader in automated urinalysis technology with workstations in major medical institutions throughout the world. Using a patented Automated Intelligent Microscopy (AIM) technology and Auto Analyte Recognition software (AAR), a significant reduction in the cost and time-consuming steps for manual microscopic analysis can be achieved.
The StatSpin(r) subsidiary, based in Norwood, Mass., is a worldwide leader in accelerated sample preparation for blood, body fluids and urine analysis. The subsidiary makes innovative centrifuges and blood analysis products, including the world's fastest blood separator (30 seconds). StatSpin's worldwide markets include medical institutions, commercial laboratories, clinics, doctors' offices, veterinary labs and research facilities. Its bench top centrifuges are dedicated to applications for manual specimen preparation for coagulation, cytology, hematology and urinalysis.
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: unexpected technical and marketing difficulties inherent in major product development efforts such as the current project to improve the Company's urinalysis workstation product line; 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.