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.
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"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.
In the U.S., there are an estimated 4.1 million Americans, or 1.6 percent of the population, that are or have been infected with HCV. On a worldwide basis, there are an estimated 180 million people who are chronically infected with HCV, with an estimated 3 to 4 million individuals newly infected each year. According to the World Health Organization, most cases of HCV infection are currently undiagnosed and up to 80 percent of HCV-positive individuals show no signs or symptoms.
About Popular Science
Founded in 1872, Popular Science (www.popsci.com) is the world's largest science and technology magazine, with a circulation of 1.3 million and 7.1 million readers. Each month, Popular Science delivers "The Future Now," reporting on the intersection of science and everyday life with an eye toward what's new and why it matters. Popular Science is published by the Bonnier Corporation (www.bonniercorp.com), one of the largest consumer publishing groups in America and the leading media company serving passionate, highly engaged audiences through more than 40 special-interest magazines and related multimedia projects and events.
About OraSure Technologies
OraSure Technologies develops, manufactures and markets oral fluid specimen collection devices using proprietary oral fluid technologies, diagnostic products including immunoassays and other in vitro diagnostic tests, and other medical devices. These products are sold in the United States as well as internationally to various clinical laboratories, hospitals, clinics, community-based organizations and other public health organizations, distributors, government agencies, physicians' offices, and commercial and industrial entities.
For more information on the Company, please go to www.orasure.com.
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SOURCE: OraSure Technologies, Inc.
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