Applied BioCode and Maxwell Sensors Receive $2.8 Million NIH Grant to Pursue Multiplex Testing Platform

Barcoded Magnetic Beads for High Value Diagnostic Multiplex Testing

SANTA FE SPRINGS, Calif.--(BUSINESS WIRE)--Applied BioCode, Inc. and Maxwell Sensors Inc. announced today that they have received a $2.8M three-year grant from the Recovery Act Limited Competition: National Institutes of Health (NIH), for the development of a high throughput diagnostic multiplex testing platform using their Barcoded Magnetic Beads (BMB) technology for various high value immunodiagnostics and molecular diagnostic tests. These multiplex testing applications include tests for infectious diseases, cancer, companion diagnostics, autoimmune disease, genetic screening, and pharmacogenomics. These multiplex testing areas generate annual revenues of approximately $6.0 billion, each with double-digit growth rates expected for the foreseeable future.

Conventionally, tests are preformed in series, one after another, and one well is typically designed for a single test. The Applied BioCode's Barcoded Magnetic Beads integrate the semiconductor’s photolithographic technology with biotechnology to form a breakthrough bioassay platform that can significantly improve the throughput and reduce the cost of diagnostic testing. The Barcoded Magnetic Beads utilize 128 different barcodes that allows up to 128 individual assays to be completed on a sample at the same time. By assigning a specific barcode to each probe (protein or nucleic acid), they have the ability to easily and reliably analyze multiple targets in one test tube or one microwell for most clinical diagnostics applications. The Applied BioCode's BMB Analyzer is a simple and robust optical imaging system for a 96-well microplate format. After undergoing reaction, the beads settle to the bottom of each well, allowing for barcode identification and fluorescent signal detection. Multiple analyte tests can be performed in each well in 40 seconds.

About Applied BioCode:

Applied BioCode is a privately held biotechnology company headquartered in southern California. Applied BioCode develops, manufactures, and markets highly multiplexed products to assist those focused on the molecular diagnostics, bioresearch, and biomarkers validation.

About Maxwell Sensors:

Maxwell Sensors was incorporated in 1998 and is focused on researching and developing next-generation biochips and analytical platforms for healthcare applications. Maxwell Sensors has proprietary technologies based on disc-based microfluidics and Digital Magnetic Beads to provide the multiplexing, miniaturization, integration, and automation of biomedical applications.