NEW YORK (GenomeWeb News) – Applied BioCode and Maxwell Sensors said today they have received a $2.8 million, three-year grant for developing a high-throughput multiplex diagnostic testing platform using their technology.
The grant, which came from the Recovery Act Limited Competition: National Institutes of Health, will be used to further Applied BioCode's Barcoded Magnetic Beads technology. The partners said the technology can be used for various immunodiagnostics and molecular diagnostics tests, including tests for infectious diseases, cancer, companion diagnostics, autoimmune disease, genetic screening, and pharmacogenomics.
The markets for the technology generate annual revenues of about $6 billion with each individual testing area expected to grow at double-digit rates, Applied BioCode said in a statement.
The Barcoded Magnetic Beads integrate photolithographic technology used in semiconductors with biotechnology "to form a breakthrough bioassay platform that can significantly improve the throughput and reduce the cost of diagnostic testing," Applied BioCode said. The beads use 128 different barcodes that allow up to 128 separate assays to be completed on one sample simultaneously.
A barcode can be assigned to each probe, allowing analysis of multiple targets in one test tube or one microwell for most clinical diagnostic applications. Multiple analyte tests can be performed in Applied BioCode's BMB Analyzer 96-well microplate format in 40 seconds for each well, according to the company.
Both Applied BioCode and Maxwell Springs are based in Sante Fe Springs, Calif. Applied BioCode develops, manufactures, and markets highly multiplex products to the molecular diagnostics, bioresearch, and biomarker validation sectors. Maxwell Sensors develops next-generation biochips and analytical platforms for healthcare applications.