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March 28, 2017

SQI Diagnostics to develop prediction test for cardiac events

Canada-based diagnostics company SQI Diagnostics has signed an agreement with an undisclosed US-based firm to enhance predictive diagnostics for cardiac events.

Canada-based diagnostics company SQI Diagnostics has signed an agreement with an undisclosed US-based firm to enhance predictive diagnostics for cardiac events.

Under the agreement, SQI will convert the customer's multi-biomarker test into an SQI-based multiplex test, and the kits will be manufactured at SQI's Toronto facility.

The collaboration also requires SQI to automate the test on its sqidlite system, which would later be divested to the customer to perform the tests at its CLIA laboratory.

"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."

Additionally, SQI's customer intends to sell both the test kit and SQI automation systems to its global customer base, including cardiologists, hospitals and reference laboratories.

SQI Diagnostics chief executive officer Andrew Morris said: "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.

"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."

The new test can be used to predict the chances of a heart attack as well as detect the risk factors for the disease through a blood test of patients.

The test is reported to have the ability to predict the possibility of a patient experiencing a heart attack (ACS event) within a  five year period, enabling doctors to implement prevention plans.

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