MOUNTAIN VIEW, Calif., Dec. 17 Frost & Sullivan is proud to present the 2009 North American Healthcare Innovation Award in molecular diagnostics to Intelligent Medical Devices, Inc. (IntelligentMDx) for its commitment to providing innovative technologies for the advancement of healthcare and diagnostics. Since its incorporation in 2004, IntelligentMDx has introduced a proprietary novel and innovative bioinformatics approach to make tests that are clinically impactful, competitively differentiated, and platform agnostic.
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There is an enormous market demand for robust diagnostic tests that allow for definitive diagnosis and effective treatment. Of equal importance is a test's ability to differentiate variations between infectious disease agents - while a strain of pathogen might exhibit only minor changes at the protein level, existing tests can prove inadequate to identify significant genetic deviation from the wild type. Thus, innovative tests that employ a sequence-based approach to diagnosis at the molecular level have superior clinical potential.
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Specifically, today's molecular diagnostic platforms are providing unparalleled clinical value, especially for diagnosis of infectious diseases. Moreover, these molecular diagnostic technologies are smaller, less expensive, and more user-friendly than their predecessors, driving the adoption and utilization of new innovative tests.
"By the mid-2020's, physicians are expected to employ these technologies at the point-of-care and improve the economics of patient care substantially," says Frost & Sullivan Industry Manager Jonathan Witonsky. "Companies that are developing these tests that streamline the overall cost of patient care will have a significant competitive advantage with the advancement of healthcare."
IntelligentMDx collaborates with thought leading stakeholders to understand the current needs of molecular testing, and it employs unique and proprietary bioinformatics processes for the accelerated production of high-quality assays. Built into this process is the incorporation of a network of inputs from expert end users to pre-set the clinical indications and specifications for an assay. IntelligentMDx's innovative technology and process enables a better understanding for nucleic acid to nucleic acid interactions and thus can enhance the development of tests of any molecular application.
The company's in silico design and analysis process allows it to avoid a long trial and error approach, requires less wet lab experimentation to show that a solution is valid, and meets the highest performance standards. IntelligentMDx's approach to producing clinically relevant assays decreases the test development time so it can provide the best solutions to clinicians and patients sooner, while avoiding some of the risks of bringing products to market.
IntelligentMDx is developing products in a breadth of markets, including Seasonal/Pandemic Influenza, Bordetella, Immunocompromised patient care and Infection Control testing including antimicrobial resistance screening and detection. Using this approach, the company has developed relationships with many clinical reference labs. Such close collaborations with customers have enabled IntelligentMDx to understand the economics of labs and challenges that users face with existing methods.
Further, IntelligentMDx's tests are designed and developed under FDA quality system regulations and, therefore, are accompanied with reduced risks. The company has a very strong intellectual property portfolio and holds US and foreign patents and pending patent applications on, including, individual test sequences and methods of using the assays and sequences.
For its commitment to providing innovative technologies for the advancement of healthcare and diagnostics, Frost & Sullivan is pleased to present the 2009 Healthcare Innovation Award to IntelligentMDx for its demonstrated leadership in the molecular diagnostics markets.
Each year, Frost & Sullivan presents this award to the company that has exhibited a breakthrough approach / degree of differentiation innovation compared to other market participants in terms of unique or revolutionary technology. The award recognizes outstanding penetration rate of new markets and the significance of the innovation within the industry. It also recognizes the recipient for leading proactive initiatives to improve value to customers and advancement of the industry through its research.
Frost & Sullivan's Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.
About IntelligentMDx
IntelligentMDx is a commercial stage molecular diagnostics company that makes tests that are clinically impactful, competitively differentiated, and platform agnostic. We have product offerings for Seasonal/Pandemic Influenza, Bordetella, Immunocompromised patient care and Infection Control testing including antimicrobial resistance screening and detection. IntelligentMDx commercializes molecular diagnostic test solutions under FDA QSR, ISO 13485:2003 and IVDD regulations and guidances for use in clinical reference laboratories. IntelligentMDx, Inc., a privately held company, is based in Cambridge, MA. Additional information is available at http://www.intelligentmdx.com.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 40 offices on six continents. To join our Growth Partnership, please visit http://www.frost.com.
Contact: Jake Wengroff 210.247.3806 [email protected]
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