SDIX (Nasdaq: SDIX) today announced that it will be showcasing progress with its advanced Genomic Antibody Technology TM (GAT TM) data package this week’s BIO International Convention, one of the largest global partnering events for the biotechnology industry. Advanced GAT is the next generation of the Company’s well-established and successfully marketed proprietary DNA-immunization-based technology. The 2012 event is taking place at the Boston Convention & Exhibition Center in Boston, MA, on June 18-21. SDIX will be participating in the BIO Partnering sessions on June 18-20. Fran DiNuzzo, CEO, and Klaus Lindpaintner, CSO and VP of R&D of SDIX plan to engage in discussions with Biotechnology and Pharmaceutical companies to share new data documenting the capabilities of the advanced GAT platform. Management plans to share recent developments demonstrating the platform’s capabilities to create large collections of novel monoclonal antibodies against transmembrane protein targets, including GPCRs. The company believes that these transmembrane protein targets represent a large potential market opportunity - approximately one third of all currently pursued drug targets. The data will include results from initial targets that include CXCR4 and CD-20. These data show that the company’s proprietary technology created large collections of highly diverse monoclonal antibodies, as indicated by both sequence diversity and epitope mapping data, that are functionally active. “We have recently made substantial progress in creating datasets on large numbers of monoclonal antibodies that demonstrate the strengths of our advanced GAT platform,” commented Dr. Lindpaintner. “Given that creating monoclonal antibodies against GPCRs and other membrane receptors has long been an area of unmet need in the pharma-biotech industry, we believe that these antibody capabilities may offer a large market opportunity for SDIX. Moreover, our platform’s ability to target a broader spectrum of a protein’s epitopes, not just the immunodominant ones, gives us added confidence in advanced GAT’s value proposition.”
Shares of Strategic Diagnostics (Nasdaq:SDIX) have taken a tremendous swing upward. The stock is trading at $2.68 as of 12:22 p.m. ET, 20.7% above Thursday's closing price of $2.22. Volume is at 295,904, 8.7 times the daily average of 34,200.