TORONTO, March 27, 2017 /CNW/ - SQI Diagnostics Inc.
("SQI" or the "Company") (TSX-V: SQD; OTCQX: SQIDF), a life sciences and diagnostics company that develops and commercializes
proprietary technologies and products for advanced microarray diagnostics ("SQI"), has signed an agreement with an Irvine, CA-based pioneer in the field of predictive diagnostic medicine.
In the agreement, SQI will transform this customer's multi-biomarker test into an SQI-based multiplex test, with kits to be
manufactured at SQI's state-of-the-art facility in Toronto. The agreement also calls for the automation of the test on
SQI's sqidlite system which would then be sold to the customer to run the tests at its CLIA laboratory. In addition
to running the test in their own laboratory, SQI's customer also plans to sell both the test kit and SQI automation systems to
its ever-expanding global customer base. These customers are renowned cardiologists, hospitals, and reference laboratories
around the world.
This customer's test marks a major advancement in medicine's ability to predict the chances of a heart attack before it
happens. It is the first test of its kind to detect heart attack risk factors in patients through the use of a blood test.
The test's performance attributes were presented at the 12th Annual World Congress on Insulin Resistance, Diabetes &
Cardiovascular Disease to a distinguished faculty of global scientists, researchers, and practicing clinicians. As
reported, the test can predict the likelihood that patients will experience a heart attack (ACS event) within a 5-year period –
allowing physicians to implement potentially life-saving prevention plans.
"We're excited to be the technology platform upon which this exciting new test will be based and to add another great customer
to our diagnostics segment portfolio," said Andrew Morris, CEO of SQI Diagnostics. "We believe the
test will transform the way cardiovascular testing and cardiac event prediction is performed. Clearly, the commercial potential
for this predictive test is very promising as is illustrated by the esteemed and growing list of customer clinics using this
important predictive diagnostic tool. We believe this product will add significantly to our 2017 revenues and expect
further growth beyond 2017"
About SQI Diagnostics
SQI Diagnostics is the life sciences and diagnostics company that develops and commercializes proprietary technologies and
products for advanced microarray diagnostics. The Company's proprietary microarray tests and fully-automated systems are designed
to simplify protein and antibody testing workflow, increase throughput, reduce costs and provide excellent data quality. For more
information, please visit www.sqidiagnostics.com.
Sales and Marketing Contact:
Russ Peloquin
Vice President, Global Commercial Operations
913.484.9022
rpeloquin@sqidiagnostics.com
SQI Investor Relations Contact:
Chief Executive Officer
Andrew Morris
416.674.9500 ext. 229
amorris@sqidiagnostics.com
Vice President, Finance and Administration
Patricia Lie
416.674.9500 ext. 277
plie@sqidiagnostics.com
Forward-looking Information
This press release contains certain statements including, without limitation, the words "may", "plan", "will", "estimate",
"continue", "anticipate", "intend", "expect", "believe", "in the process", "benefits", "leading to", "position" "possible", "is
subject to" and other similar expressions which may constitute "forward-looking statements" within the meaning of applicable
securities laws. Forward-looking statements reflect the Company's current expectations and assumptions, and are subject to a
number of risks and uncertainties that could cause actual results to differ materially from those anticipated. Readers are
cautioned not to place undue reliance on these forward-looking statements. These forward-looking statements involve risks and
uncertainties including, but not limited to: our ability to market and sell our products including our novel multiplexing
technologies and detection platforms; our ability to maintain any technical or product advantages; the success of our
Diagnostic Tools and Services business and our intent to build near-term revenue streams from this business; the successful
regulatory filing and receipt of regulatory approvals for our later stage quantitative diagnostic consumable kits; adverse
changes in general economic conditions; international risk and currency exchange fluctuations; competitor activity; technology
changes; regulatory approvals and the impact of healthcare reform legislation; and, SQI's ability to raise additional funds in
the future.
Such statements, risks and uncertainties are detailed in the Company's ongoing filings with the securities regulatory
authorities, and are available to the public at www.sedar.com . 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.
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.
SOURCE SQI Diagnostics Inc.
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