MOUNTAIN VIEW, Calif., Feb. 25, 2013 /PRNewswire/ -- Based on its recent analysis of the molecular diagnostics market, Frost & Sullivan recognizes GenePOC, Inc. with the 2013 North America Frost & Sullivan Entrepreneurial Company of the Year Award. The company's biggest strengths are its technology and leadership. GenePOC has completed its first step in growth implementation by demonstrating its superior molecular technology. Its next goal is to expand the usage of its system at the point of care to optimize patient management and target therapies.
The company stands out in the molecular diagnostics market due to its product and technology innovation. It addresses point-of-care testing needs with a fully-automated, standalone, and plug-and-play system that provides quick results. The system has a universal sample preparation method and can handle numerous sample types, including nasal, vaginal and throat swabs.
"GenePOC's technology employs real-time polymerase chain reaction, microfluidics, microfabrication, biomarkers and bioinformatics, enabling physicians to diagnose diseases more rapidly," said Frost & Sullivan Global Program Manager Jennifer Brice. "While other vendors have attempted to cater to the POC testing market with molecular diagnostics platforms, GenePOC's system is uniquely designed to be user-friendly."
GenePOC has a well-delineated strategy to obtain funding in 2013, accelerate development in 2013 and then launch its technology in Europe in 2014, since the European market is more flexible than the U.S. market. GenePOC aims to have four or five tests in Europe by 2015, before it can launch its platforms in the U.S.GenePOC's technology can fully automate molecular diagnostic testing at the point of care and provide results in less than an hour, and with less than 3 minutes of hands-on time. Its molecular diagnostics system can process a broad range of sample types; it can test eight different samples simultaneously during a single run, with up to 12 targets per sample. This is an attractive feature, especially considering that both the instrument and consumables are cost-effective and easy to use.