CHATSWORTH, Calif., March 16, 2010 (GLOBE NEWSWIRE) -- IRIS International, Inc. (Nasdaq:IRIS), a leading manufacturer and marketer of automated in-vitro diagnostics systems and consumables for use in hospitals and commercial laboratories worldwide, today announced that its Sample Processing Division has initiated shipments of its new 12 place cytocentrifuge, the Statspin® CytoFuge® 12.
"The StatSpinCytoFuge 12 is a compact, low cost cytocentrifuge that concentrates up to 12 samples and gently deposits cells in a monolayer onto microscope slides for a variety of cell preparations, including fine needle aspirates, synovial fluids, urine, pleural fluids, bone marrow and other cytology specimens," stated Robert Mello, President of Iris Sample Processing. "The unit has a removable sealed rotor that can be loaded in a safety cabinet to eliminate exposure to biohazards and can be autoclaved. Up to 24 cytological protocols can be programmed and stored through an easy to use keypad. The unit operates at variable speeds ranging from 200-2,000 rpm and samples from 50 µL up to 800 µL are processed with our patented snap-seal filter concentrators in disposable and reusable formats. We believe this unit provides flexibility and capabilities that we could not provide with our predecessor product, the CytoFuge® 2.
"Iris Sample Processing has been selling a 4 place StatSpin CytoFuge 2, and has shipped more than 3,000 instruments since its release in 1995. Currently, our CytoFuge 2 model is used by low volume users in the cytology, microbiology, research, hematology and virology laboratories worldwide. It is a very cost effective system to make quality thin-layer cell presentations at low test volumes. We will continue selling the CytoFuge 2 targeting the low volume market while the new CytoFuge 12 allows us to expand into the higher volume market segment," Mr. Mello said.
"We are pleased that our Sample Processing Division has met our goal of launching this new cytocentrifuge in the first quarter of 2010," stated IRIS President and Chief Executive Officer César García. "The launch of the StatSpin CytoFuge 12 is consistent with our strategy of building a higher recurring revenue stream for our Sample Processing business unit. Since the StatSpin CytoFuge 12 is a larger cytocentrifuge, we believe it opens up a significant growth opportunity into the larger cytology, virology and research laboratories by expanding our product offering and increasing the utilization of a proven cytological consumable that we have perfected since the release of our smaller CytoFuge 2 in 1995," added Mr. García.
A cytocentrifuge uses centrifugal principles to deposit cells onto a clearly defined area of a glass slide while allowing for the absorption of the residual fluid into the sample chamber's filter card. Cytocentrifugation also constructively flattens cells for excellent nuclear presentation. During operation, the instrument's spinning action tilts the filter holder upright and centrifuges cells onto the deposition area of the slide, giving all cells equal opportunity for presentation. In the load or stopped position, this unique tilting feature reduces cell loss by preventing residual fluid from coming into contact with the prepared slide.
"We are excited to be displaying the StatSpin® CytoFuge 12 at the SAFMLS (Society for Armed Forces and Military Laboratory) show in San Diego, March 22-23, 2010," said Pamela Pasakarnis, Vice President Sales and Marketing of Iris Sample Processing. "Initial response has been very positive to the product and we also expect strong sales outside the U.S. where our distributors are already successful with the CytoFuge 2."
About IRIS International, Inc.
IRIS International is a leading global in vitro diagnostics company focused on products that analyze particles and living cell forms and structures, or morphology of a variety of body fluids. The Company's products leverage its strengths in flow imaging technology, particle recognition and automation to bring efficiency to hospital and commercial laboratories. The initial applications for its technology have been in the urinalysis market and the Company is the leading worldwide provider of automated urine microscopy and chemistry systems, with an installed base of more than 2,600 systems in more than 50 countries. The Company is expanding its core imaging and morphology expertise into related markets and is developing applications in hematology and urinary tract infections. In addition, the Company is developing molecular diagnostic tests based on its Nucleic Acid Detection Immunoassay, or NADiA®, platform, with applications in oncology and infectious disease. The Company's Sample Processing Division, based in Westwood, Mass., manufactures the StatSpin® brand of centrifuges and blood analysis products. For more information visit www.proiris.com.
SAFE HARBOR PROVISION
This press 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 the features and benefits of the StatSpin® CytoFuge® 12, that the product will provide a significant growth opportunity into the larger cytology, virology and research laboratories, and that the StatSpin CytoFuge 12 will result in a higher recurring revenue stream for the Sample Processing Division, 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 StatSpinCytoFuge 12 features and benefits; the market for higher volume cytocentrifugation in the cytology, virology and research laboratories; adoption of the product; and competition from existing and newly introduced products that compete with the StatSpinCytoFuge 12. These and other risks are more fully described in the Company's filings with the Securities and Exchange Commission, including the Company's most recently filed Annual Report on Form 10-K and Quarterly Report on Form 10-Q, which should be read in conjunction herewith for a further discussion of important factors that could cause actual results to differ materially from those in the forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.