SQI Diagnostics announced the sale of a Sqid-X system under the terms of an agreement with IRX Therapeutics.
SQI is a Toronto-based life sciences and diagnostics company that develops and commercializes proprietary technologies and products for advanced multiplexed diagnostics. SQI's existing proprietary technology enables global pharmaceutical and diagnostic testing companies to perform highly complex multiplex tests much faster, more accurately and at a lower cost.
IRX will be using one of SQI's multiplexed biomarker panels in their laboratory to test therapeutic compounds. The purpose of this routine and recurring testing is to ensure quality control for the manufacturing processes of their breakthrough therapeutic compounds. The tests will be run on the easy-to-use bench-top member of SQI's automated platform family, the Sqid-X system acquired under the terms of a purchase agreement.
"We are excited to see another well-respected therapeutics company validate SQI's biomarker business," said Andrew Morris, CEO of SQI Diagnostics. "This sale of the sqid-X system and the adoption of this biomarker panel is yet another validation by the worldwide pharmaceutical industry of SQI's cutting-edge multiplexing technology and our transition from a research company to a growing commercial enterprise."