ST HELIER, Jersey, April 21, 2016 /PRNewswire/ --
Quotient Limited (NASDAQ:QTNT), a commercial-stage diagnostics company, today announced that its UK subsidiary, Alba Bioscience Limited ("Alba"), has been awarded the prestigious Queen's Award for Enterprise in the category of outstanding achievement in international trade. Alba develops, manufactures and commercializes products for the global transfusion diagnostics market.
The Queen's Awards for Enterprise are made annually by Her Majesty The Queen. They are granted in recognition of only the highest levels of excellence demonstrated by UK-based businesses in the categories of international trade, innovation, and sustainable development.
The Queen's Award for Enterprise was granted to Alba as a result of its impressive record of strong and continuous growth in international revenues over the last six years. Since 2010, direct product sales within the United States have grown at a compound annualized growth rate ("CAGR") of 40%, while revenues from original equipment manufacturer (OEM) customers in the top five overseas markets (United States, France, Japan, Spain and Switzerland) have grown at a 27% CAGR.
"Quotient, and its Alba subsidiary, is dedicated to providing innovative, value-added products to the global blood transfusion market and we are delighted to receive such esteemed recognition for our achievements in international trade," said Paul Cowan, Chairman and Chief Executive Officer of Quotient. "At Quotient, we work very hard to ensure that our customer needs are met and have established strong business relationships around the world. The development of our next-generation automation platform for transfusion diagnostics, MosaiQ™, demonstrates this commitment to our customers and builds upon these impressive achievements."
For over 30 years, Alba has developed and manufactured high quality transfusion diagnostic products that are used to characterize donor and patient blood prior to transfusion. The company offers over 40 blood grouping products that are licensed for sale in the United States and a further 20 new products are currently under development or undergoing FDA review for licensing. Alba also develops and manufactures products for leading transfusion providers in global markets outside of the United States.
Leveraging its expertise in transfusion diagnostics, Quotient is developing MosaiQ™, its next generation automation platform to address the comprehensive needs of the global transfusion diagnostics market. Once approved for sale, MosaiQ™ will be the first fully automated solution for blood grouping, quickly and comprehensively characterizing both donor and patient blood, improving patient outcomes and eliminating the need for expensive and time-consuming manual testing. MosaiQ™ will also undertake all mandated serological disease screening tests required for donor blood.
About Quotient Limited
Quotient is a commercial-stage diagnostics company committed to reducing healthcare costs and improving patient care through the provision of innovative tests within established markets. With an initial focus on blood grouping and serological disease screening, Quotient is developing its proprietary MosaiQ™ technology platform to offer a breadth of tests that is unmatched by existing commercially available transfusion diagnostic instrument platforms. The company's operations are based in Edinburgh, Scotland, Eysins, Switzerland and Newtown, Pennsylvania.
MosaiQ™ has been designed to offer a breadth of diagnostic tests unmatched by existing commercially available transfusion diagnostic instrument platforms. Once approved, it will be the first fully automated solution for blood grouping, providing for the comprehensive characterization of both donor and patient blood, with turnaround times significantly quicker than existing methods. Widespread adoption of MosaiQ™ is expected to improve patient outcomes through better and easier matching of donor and patient blood, given cost-effective extended antigen typing offered by MosaiQ™. Improved patient outcomes from the use of MosaiQ™ include the potential for reduced incidence of adverse events associated with transfusion, particularly alloimmunization, where patients develop antibodies to foreign antigens introduced through transfused blood. MosaiQ™ will also offer the opportunity for substantial cost savings and a range of operational efficiencies for donor and patient testing laboratories, including:
- elimination of the need for routine manual testing typically undertaken by highly skilled technicians;
- simplification of required consumables and testing processes;
- consolidation of multiple instrument platforms in donor testing laboratories;
- significant reduction in sample volume requirements;
- reduction in the number of patient/donor samples required, consumables and reagent waste; and
- more streamlined processes for matching donor units to patients.
Quotient expects to develop additional applications for MosaiQ™, starting with nucleic acid testing for donor molecular disease screening, upon completion of assay development for the blood grouping and serological disease screening applications.
The Quotient logo and MosaiQ™ are registered trademarks or trademarks of Quotient Limited and its subsidiaries in various jurisdictions.