March 24, 2008 – AdvanDx received Frost and Sullivan’s 2008 Technology Innovation of the Year Award in the field of rapid in-vitro molecular diagnostic technology with its PNA FISH, which is used by hospitals to quickly identify bloodstream pathogens in hours instead of days.
The rapid PNA FISH results enable laboratories to report critical information to physicians and pharmacists earlier to ensure optimal therapy and help reduce mortality rates for patients afflicted with bloodstream infections, the company said.
Frost and Sullivan’s team of industry analysts conducted more than 400 hours of analysis in the diagnostics market.
“During the process of conducting the research, it became clear that AdvanDx would be a strong candidate to receive the in-vitro molecular diagnostic technology innovation of the year award,” said Abhishek Dutta, research analyst, Frost and Sullivan. “PNA FISH is an extremely innovative technology platform that prevents the unnecessary use of drugs, enables doctors to make rapid diagnoses, treat patients sooner, save lives and significantly reduce costs throughout all areas of the hospital. As a result, AdvanDx is diversifying into new product lines that will enable the firm to explore new, multi-billion dollar in-vitro diagnostic markets.”
To choose The Technology Innovation of the Year Award recipient, Frost and Sullivan’s analyst team conducted a selection process that included primary interviews and extensive primary and secondary research via a bottom-up approach. The analyst team considered AdvanDx’s pace of research and technology innovation and its significance and relevance to the overall industry. The ultimate award recipient was selected after a thorough evaluation of this research.
The recipient of the award has excelled based on the following criteria:
- Significance of AdvanDx’s technology in the industry
- Potential of AdvanDx’s technology/products to become an industry standard
- Competitive advantage of AdvanDx’s technology when compared to competing technologies
- Ease of adoption of AdvanDx’s technology
- Breadth of intellectual property related to the innovation (e.g., patents, coverage in scientific publications, papers and in peer reviewed articles).