Accelr8 Technology Corporation (NYSE Amex: AXK) announced that the company agreed to extend its letter of intent with its industry collaborator, based on prepaid R&D expenses, for one month to July 31, 2011. The collaborator stated the companies’ joint intent to complete evaluation of Accelr8’s data and agree on business terms for a formal business relationship and definitive Business Agreement by July 31, 2011.
According to David Howson, Accelr8’s president, “In the last six months, we’ve worked successfully with outside engineering specialists to install fluid robotics and high-speed microscopy. We’ve tested hundreds of patient specimens and keep increasing our capacity. The higher capacity of the system has generated substantial research data including the human specimen analyses. This data volume necessitates the extension.”
Accelr8 Technology Corporation ( www.accelr8.com) is a developer of innovative materials and instrumentation for advanced applications in medical instrumentation, basic research, drug discovery, and bio-detection. Accelr8 is developing a rapid analytical platform for infectious pathogens, the BACcel™ system, based on its innovative surface coatings, assay processing, and detection technologies. In addition, Accelr8 licenses certain of its proprietary technology for use in applications outside of Accelr8’s own products.Certain statements in this news release may be “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements regarding future prospects and developments are based upon current expectations and involve certain risks and uncertainties that could cause actual results and developments to differ materially from the forward-looking statement, including those detailed in the company's filings with the Securities and Exchange Commission. Accelr8 does not undertake an obligation to publicly update or revise any forward-looking statements, whether as a result of new information or future events.