Cellectricon AB to Receive the 2004 Frost & Sullivan Market Penetration Leadership Award

09-Feb-2005

Cellectricon AB is the recipient of the 2004 Frost & Sullivan Market Penetration Leadership Award in recognition of its comprehensive and distinctive portfolio of cell-based assay products. Outstanding product offerings have placed the company in a position to grow profitably and enhance its penetration of the functional cell-based assay market.

In presenting Cellectricon with the Market Penetration Leadership Award, Frost & Sullivan recognises it as a company that has demonstrated excellence in capturing market share within its industry through excellence in product innovation and marketing and sales strategies.

Cellectricon's products target bottlenecks in the drug discovery process. Successfully launched in 2003, the first generation of products - Dynaflow (TM) Standard System - offers dramatic increases in productivity along with significant time and cost savings. The Dynaflow (TM) technology is built around a pioneering microfluidic device, which facilitates a remarkable boost in output when screening for drugs targeting ion channels.

In November 2004, the next generation of the DynaflowTM.product - the Dynaflow (TM) Proficient System - was introduced, following a beta-testing of the new 48-channel chip and software by GlaxoSmithKline. The Dynaflow (TM) Proficient System enables multiple dose response curves and integrates an unparalleled product line for both ligand- and voltage-gated ion channel drug screening. During Q1 2005 Cellectricon opens an US unit. Cellectricon, Inc. will provide sales and technical support and further expand the company's presence in the United States and Canada in response to growing demand for Cellectricon's Dynaflow(TM) Proficient (Pro) System.

Cellectricon's strong funding support - total investments since its inception in 2000 are estimated at nearly USD 13 million, of which around USD 7 million was generated from Series B financing round - is expected to be turned towards further product portfolio advancements as well as to globally debut the microfluidics tool for high content cell-based screening.

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