| CONTACTS: |
César García, President and Chief Executive Officer |
|
818-709-1244 Ext. 123 or
|
|
Ron Stabiner, The Wall Street Group, Inc. |
|
212-888-4848 |
CHATSWORTH, Calif., March 21, 2006
— IRIS International, Inc. (NASDAQ: IRIS)
a manufacturer and marketer of automated IVD urinalysis systems and medical devices used in hospitals and reference clinical laboratories worldwide,
today announced that the Company unveiled its new iChem™100 Urine Chemistry Analyzer at the CLMA (Clinical Laboratory Management Association) ThinkLab '06
Conference and Exhibition in Charlotte, N.C.
The iChem100 analyzer, its associated iChem Urine Chemistry Strip and the visual read vChem™ Urine Chemistry Strips product
lines, were introduced to nearly 3,500 laboratory professionals who attended the exhibition at the Charlotte Convention Center.
The iChem100 is a semi-automated, benchtop instrument designed for small clinical laboratories testing up to 50 samples per day,
which include small hospitals, outpatient clinics, alternate care facilities, nursing homes and large physician offices.
"These product lines open up new urine chemistry market segments, enabling IRIS to further penetrate the estimated $500 million
global urine chemistry market," stated IRIS President and Chief Executive Officer César García. "The iChem100 will be marketed domestically by a
new distribution network and internationally through a combination of our established overseas laboratory distributors and new distributors who specialize in
physician office sales."
"Looking toward the future, we are progressing with the development of a fully automated urine chemistry analyzer to complement
our existing line of highly successful iQ®200 Automated Microscopy Analyzers and expect to complete a prototype during the second half of this year.
This will enable IRIS to offer an even more comprehensive product line and begin penetrating the international automated urine chemistry market."
IRIS' product expansion is a result of its own research as well as from technology leveraged from its May 2005 acquisition of
Quidel Corporation's urine chemistry product line. The iChem100 is an enhanced model of Quidel's chemistry analyzer. As a result of the many improvements
implemented on this instrument, IRIS recently submitted a 510(k) application with the U.S. Food and Drug Administration (FDA) seeking market clearance for the
iChem100 Analyzer and the iChem Urine Chemistry Test Strip.
The Company
IRIS International, Inc. (http://www.proiris.com), based in Chatsworth,
Calif., is a leader in automated urinalysis technology with systems in major medical institutions throughout the world. The Company's newest generation
iQ®200 Automated Urinalysis platform, utilizing image flow cytometry, patented Automated Intelligent Microscopy (AIM) technology and neural network-based
particle recognition, achieves a significant reduction in the cost and time-consuming steps involved in manual microscopic analysis. The Company's
StatSpin® (www.statspin.com) subsidiary, based in Norwood, Mass., manufactures innovative centrifuges
and blood analysis products. Advanced Digital Imaging Research, LLC (ADIR), (www.adires.com) based near
Houston, Texas, is the Company's imaging research and development subsidiary.
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: the acceptance by customers of our new iQ®200 product platform, our substantial expansion of international sales and our reliance on
key suppliers, 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.