| CONTACTS: |
César García,
President and Chief Executive Officer |
|
818-709-1244 x 7123
|
|
-or-
|
|
Ron Stabiner, The Wall Street Group, Inc. |
|
212-888-4848 |
CHATSWORTH, Calif., July 26, 2007 - IRIS International, Inc. (NASDAQ: IRIS)
today announced that the U.S. Patent & Trademark Office (USPTO) has issued Patent No. 7,236,623, "Analyte Recognition for Urinalysis Diagnostic System," to the Company for its proprietary
automated method of separating and recognizing particles from a cell sample, a key element in IRIS' next generation 3GEMS™ Cell Morphology Technology Platform that encompasses unique, automated
applications for hematology, enhanced urinalysis and body fluids testing.
The IRIS Analyte recognition works by isolating each particle on a sample image slide and then analyzing it for specific features. Each feature is categorized using a series
of algorithms and then each particle is converted to a numerical value which is capable of automating and expediting the performance of complete blood cell (CBC) and white blood cell (WBC) counts that are
typically done with a microscope in a manual and time-consuming procedure. The IRIS Analyte recognition technology will result in tests that are faster, more accurate and much less likely to require the
intervention of a lab technician. The process is central to the development of the 3 GEMS™ platform which, in addition to enhanced urinalysis and body fluids testing, will include a new automated
hematology module with imaging and provide entry to the incremental $1.8 billion hematology market opportunity with products or licensing opportunities.
"We are pleased that the USPTO has recognized our proprietary automated particle recognition system, which is the basis for the iQ™200 Automated Urine Microscopy
Analyzer and therefore central to our leadership in urine cell morphology," stated Thomas H. Adams, Ph.D., IRIS Corporate Vice president and Chief Technology Officer. "The technology has
applications beyond urinalysis and can be applied to blood as well. With this patent, we are assured ownership of the 3GEMS™ platform that will expand the IRIS business into hematology — a natural
extension of the company's proprietary morphology platform. This patent also enables the Company to go forward in confidence, assured that it will benefit from the development of these tests, and also
establishes firm protections for our intellectual property."
THE COMPANY
IRIS International, Inc. (www.proiris.com), based in Chatsworth, Calif., is a leading developer, manufacturer, and marketer of
medical devices, diagnostic systems and consumables. The Iris Diagnostics Division (www.irisdiagnostics.com) is a leader in automated
urinalysis technology with systems in major medical institutions throughout the world. Iris Molecular Diagnostics develops innovative ultra-sensitive diagnostics and sample processing products with
applications in the urinalysis, oncology and infectious disease markets. The Company's Sample Processing business unit (formerly the StatSpin® subsidiary) (www.statspin.com),
based in Westwood, Mass., manufactures innovative centrifuges and blood analysis products.
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 financial performance, market growth, capital requirements, new product introductions and acquisitions, 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, R&D initiatives, competition and capital requirements. Other factors and uncertainties that could affect the Company's forward-looking statements include,
among other things, the following: identification of feasible new product initiatives, management of R&D efforts and the resulting successful development of new products and product platforms;
acceptance by customers of the Company's products; integration of acquired businesses; substantial expansion of international sales; 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; 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 competitive
factors, including pricing pressures and the introduction by others of new products with similar or better functionality than our products. 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.
