Exhibit 99.1
NEWS RELEASE Company Contact:
FOR IMMEDIATE RELEASE Arthur A. Koch, Jr.
Chief Operating Officer
(302) 456-6789
www.sdix.com
Investor Relations Contact:
Lippert/Heilshorn & Associates, Inc.
William A. Walkowiak, CFA
Klea Theoharis
(212) 838-3777
klea@lhai.com
Strategic Diagnostics Announces Collaboration with Molecular Circuitry, Inc.
and McDonald's Corporation to Develop a Rapid Test for Animal Feed
Additionally, Strategic Diagnostics to Market Molecular Circuitry's
Rapid Pathogen Detex(TM) Products and Develop Lateral Flow (Strip) Tests
for Salmonella, E. Coli, Listeria and Campylobacter
Newark, Del., October 24, 2001 - Strategic Diagnostics Inc., (Nasdaq: SDIX) - a
leading provider of antibody products and analytical test kits for the food
safety and water quality markets, today announced that it has entered into a
collaboration to develop a rapid test for unapproved animal remnants in animal
feed. Concern over the presence of these materials has recently risen since
these additives are believed to be linked to mad cow disease, which has affected
meat production in Europe and sparked a recent outbreak in Japan.
McDonald's Corporation is sponsoring the collaboration to develop a means to
actively source only the highest quality meat products as part of their
long-standing commitment to quality and safety. "McDonald's is absolutely
committed to food safety, from the farm to the front counters of our
restaurants," said Ken Koziol, McDonald's Global Quality Assurance Officer. He
continued, "We are helping to fund this innovative research project because it
represents another potential safety firewall in animal feed."
Molecular Circuitry and Strategic Diagnostics will both contribute scientific
resources to develop a commercial test kit under the collaboration.
Mr. Herb Lotman, Chairman, President and CEO of Molecular Circuitry, remarked,
"We are delighted to work with SDI on this vital project. We bring complementary
expertise in microbiology and manufacturing capability that will position the
group to achieve the finished test product's objectives, quick time-to-result
and ease-of-use.
Richard C. Birkmeyer, President and CEO of SDI, commented, "We are excited about
the challenge of developing what could be the worldwide standard in testing for
animal feed. SDI has done this before, in food and water testing, and we believe
the team we have assembled here has the talent and resources to be successful.
We expect to begin shipping the finished test in the first half of 2002."
In additional news, SDI announced that it will market the Detex(TM) line of
products developed and manufactured by Molecular Circuitry for food borne
pathogens including Salmonella, E. Coli, Listeria and Campylobacter as well as
Molecular Circuitry's newest hygiene test Detex(TM) RESI-CLEAN, an all-in-one
monitoring device to detect food residues using glucose and lactose detection.
The E. Coli test has been approved by the American Organization of Analytical
Chemists (AOAC), and the other rapid pathogen tests are expected to be approved
shortly. All of these products are targeted to the food manufacturing industry
and will complement SDI's existing food safety products including tests for GMOs
and mycotoxins. The food industry is increasingly concerned with food borne
pathogen contamination and these tests are designed to meet the needs of a
market that is spending more than $300 million for analytical tests today.
In a further extension of the relationship with Molecular Circuitry, SDI
announced it has acquired the rights to use the antibodies developed by
Molecular Circuitry for the Detex(TM) rapid pathogen products to develop,
manufacture and sell lateral flow (strip) tests for Salmonella, E. Coli,
Listeria and Campylobacter. The projects to develop these tests are expected to
run concurrently and take approximately six months to complete. After that time,
SDI plans to launch a family of field-based test kits for the food manufacturing
industry to complement the laboratory methods manufactured by Molecular
Circuitry and sold by SDI. Also under the terms of this relationship, SDI will
have access to Molecular Circuitry's extensive experience in analytical
instrument manufacturing to support SDI's existing instrument business.
Commenting on this additional news, Mr. Lotman said, "We believe the marketing
and technical expertise Strategic Diagnostics brings to our collaborations will
greatly enhance the reach our products and technologies are able to enjoy
throughout the global food industry."
Mr. Birkmeyer also commented, "We have been evaluating ways to enhance our
existing relationships in the food industry. The quality of the Molecular
Circuitry Detex(R) products will allow us to expand our relationships and build
new ones based on confidence in analytical performance. We are delighted to have
the opportunity to grow with Molecular Circuitry."
About Strategic Diagnostics Inc.
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SDI is a leading provider of biotechnology-based diagnostic tests for a broad
range of agricultural, industrial, and water treatment applications. Through its
antibody business, Strategic BioSolutions, Strategic Diagnostics also provides
antibody and immunoreagent research and development services. SDI's test kits
are produced in a variety of formats suitable for field and laboratory use,
offering advantages of accuracy, cost-effectiveness, portability, and rapid
response. Trait Check(TM), GMO QuickCheck(TM), and GMO Check(TM) are pending
trademarks for SDI.
This news release contains forward-looking statements reflecting SDI's current
expectations. When used in this press release, the words "anticipate", "enable",
"estimate", "intend", "expect", "believe", "potential", "will", "should",
"project" and similar expressions as they relate to SDI are intended to identify
said forward-looking statements. Investors are cautioned that all
forward-looking statements involve risks and uncertainties, which may cause
actual results to differ from those anticipated by SDI at this time. Such risks
and uncertainties include, without limitation, changes in demand for products,
delays in product development, delays in market acceptance of new products,
retention of customers and employees, adequate supply of raw materials,
inability to obtain required government approvals, the ability to meet increased
market demand, competition, protection of intellectual property,
non-infringement of intellectual property, seasonality, and other factors more
fully described in SDI's public filings with the U.S. Securities and Exchange
Commission.