JERSEY, Channel Islands, Nov. 23, 2015 (GLOBE NEWSWIRE) -- Quotient Limited (NASDAQ:QTNT), a commercial-stage diagnostics company, today announced that the company's Chairman and Chief Executive Officer Paul Cowan will ring the closing bell at the NASDAQ MarketSite in Times Square, New York City on November 24, 2015 at 4:00 p.m. Eastern Time.
Mr. Cowan will be joined by members of Quotient's executive leadership team and Board of Directors to celebrate the company's one year anniversary of its initial public offering. "I am honored to ring the closing bell and recognize this significant milestone in Quotient's history. In addition, we are celebrating the tremendous progress that continues to be made on MosaiQ™, our next generation automation platform for transfusion medicine," said Mr. Cowan. "In parallel with the development of MosaiQ™, we continue to provide our global customer base with high quality conventional reagent products for blood grouping."
Quotient recently unveiled a working prototype of the MosaiQ™ instrument at the 2015 AABB Meeting held last month in Anaheim, California. Overwhelmingly positive feedback was received on the potential for MosaiQ™ to improve patient safety and lower testing costs. Subject to obtaining required marketing clearances, Quotient is on schedule to deliver a licensed MosaiQ™ platform to prospective customers in the next 12 to 24 months.
MosaiQ™ addresses the need for better matched blood from donors to patients, eliminating key constraints to completing a comprehensive characterization of blood group antigens efficiently and cost-effectively. If approved, MosaiQ™ will be the first commercially available, fully automated, high throughput testing platform capable of quickly and comprehensively characterizing both donor and patient blood. Processing will require only one patient or donor blood sample. In addition, MosaiQ™ is expected to provide all of the currently mandated serological disease screening tests for donor blood, while consolidating multiple instrument platforms and complex manual testing onto a single automated instrument platform using only two consumables.
Quotient expects to begin formal field trials in Europe for MosaiQ™ in the first half of 2016, with initial usability studies beginning toward the end of the first quarter. Field trials in the United States are expected to begin immediately after the completion of the European field trials.
A live webcast of the NASDAQ Closing Bell Ceremony will be available starting at 3:45 p.m. Eastern Time on November 24, 2015 at https://new.livestream.com/nasdaq/live.
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 MosaiQTM 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; Newtown, Pennsylvania; and Eysins, Switzerland.
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements regarding our expectations of continued growth, the development, regulatory approval, commercialization and impact of MosaiQTMand other new products, and current estimates of fiscal 2016 operating results. Such statements are based on current assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties, many of which are beyond our control, include delays or denials of regulatory approvals or clearances for products or applications; market acceptance of our products; the impact of competition; the impact of facility expansions and expanded product development, clinical, sales and marketing activities on operating expenses; delays or other unforeseen problems with respect to manufacturing, product development or field trial studies; adverse results in connection with any ongoing or future legal proceeding; continued or worsening adverse conditions in the general domestic and global economic markets; as well as the other risks set forth in the company's filings with the Securities and Exchange Commission. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Quotient disclaims any obligation to update these forward-looking statements.
The Quotient logo and MosaiQ™ are registered trademarks or trademarks of Quotient Limited and its subsidiaries in various jurisdictions.