OraQuick(R) HCV Rapid Antibody Test Named One of the Top 100 Technical Innovations of the Year
BETHLEHEM, Pa., Nov 17, 2010 (GlobeNewswire via COMTEX) — OraSure Technologies, Inc. (Nasdaq:OSUR), the market leader in oral fluid diagnostics, today announced that the editors of Popular Science have named the OraQuick(R) HCV Rapid Antibody Test one of the top technology innovations of 2010. As a winner of a “Best of What’s New” Award, the OraQuick HCV Rapid Antibody Test was recognized for its technology and being the first ever rapid, point-of-care test approved by the FDA for the detection of antibodies to the HCV (hepatitis C) virus.
“We are honored to be recognized by Popular Science magazine as an innovative company that is making revolutionary strides to help identify more at risk individuals infected with hepatitis C,” said Douglas A. Michels, President and Chief Executive Officer of OraSure Technologies. “This award is a reflection of the passion and commitment of our employees, partners and customers in the fight against hepatitis C.”
Each year, the editors of Popular Science review thousands of products in search of the top 100 tech innovations of the year; breakthrough products and technologies that represent a significant leap in their categories. The winners — the Best of What’s New — are awarded inclusion in the December issue of Popular Science, the most widely read issue of the year.
“For 23 years, Popular Science has honored the innovations that surprise and amaze us − those that make a positive impact on our world today and challenge our views of what’s possible in the future,” said Mark Jannot, Editor-in-Chief of Popular Science. “The Best of What’s New Award is the magazine’s top honor, and the 100 winners — chosen from among thousands of entrants — represent the highest level of achievement in their fields. We congratulate OraSure and its employees on this accomplishment.”
The OraQuick HCV test was approved in June of this year by the FDA for use with venous whole blood specimens. Following approval, the Company submitted in July an additional application to the FDA for approval with a fingerstick blood sample using the OraQuick HCV test.
As previously announced, OraSure entered into agreements with Merck & Co. (through its predecessor Schering Plough Corporation) to collaborate on the development and promotion of the OraQuick(R) HCV test. Under the terms of these agreements, the Company has been and will be reimbursed by Merck for a portion of its costs to develop the test and obtain regulatory approvals. Additionally, Merck will provide promotional support, including detailing the test in the physicians’ office market in those countries in which the Company has obtained approval.
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