ChromaVision Launches its New Internet-Enabled Remote Access Program
ChromaVision Medical Systems, Inc. (Nasdaq: CVSN), a leading provider of specialized diagnostic services and cellular imaging technologies, today announced the launch of its new Internet-based remote Access program, enabling even more laboratories to provide the quantitative diagnostic results necessary to prescribe today’s leading, patient-appropriate cancer treatments.
ChromaVision conceived and developed the Access program several years ago for community-based pathologist customers who wanted to continue their keyrole in interpretation services but did not have the capital or technical resources to implement the full ChromaVision cellular imaging system (ACIS(R)) in-house. This new web-based program allows a broader spectrum of laboratories, including those without in-house tissue preparation or staining capability, to utilize the latest advances in disease analysis.
ChromaVision CEO Ronald A. Andrews, Jr. said, “The Company’s new service offering demonstrates our continued commitment to provide virtually all community pathologists with the necessary tools to get prompt and accurate answers needed for critical treatment decisions for their patients. They now have the ability to receive the same quantitative, standardized image analysis technology otherwise available at only large hospitals or regional laboratories.”
Many of the newest cancer drugs as well as hundreds now in development will require a very accurate and quantitative characterization of each individual patient’s tumor. The ACIS system and the images it provides to pathologists are excellent tools for this objective analysis — far more sensitive and objective than manual methods which rely on the limited ability of the human eye.
Web-enabled Access also reduces costs under the current ChromaVision business model, eliminating the expense of providing equipment to much of the customer-base, thereby reducing capital expenses while still providing the latest in diagnostic imaging. In addition, support costs will decrease because fewer client service resources will be required as field service calls decline.
“We have a growing backlog of new accounts,” Andrews continued, “anxious to begin service with the web-enabled Access program. This offering, in combination with additional services now available with our recently received laboratory license, should allow us to substantially grow laboratory service revenue in 2005.”
This internet-based version is a convenient, safe and secure method of providing the same remote pathology services using an FDA cleared cellular image system, which now has web-enabled connectivity. Using this system, turnaround time is reduced up to 48 hours by eliminating the time for data transfer, shipping and receiving, and the need to re-import data to local servers.
About ChromaVision Medical Systems, Inc.
ChromaVision Medical Systems, Inc. is an advanced diagnostics technology and services company focused on improving the quality of patient care while reducing medical costs and speeding the discovery of new drugs to treat cancer. ChromaVision’s proprietary Automated Cellular Imaging System (ACIS(R)) is a versatile automated microscope system that greatly improves the accuracy and reproducibility of cell imaging through its unique patented technology. ChromaVision is currently providing stain and scan only services to pathologists for analysis in their offices using the ACIS software. Upon licensure, ChromaVision will also be providing comprehensive laboratory services ranging from in-house pathology testing using the ACIS(R) to other cutting-edge diagnostic technologies that assist physicians in managing cancer. In addition, the company develops ACIS-based tools for academic and biopharmaceutical company researchers, allowing them to perform cellular-level analyses much faster and with improved accuracy. Many of the top clinical laboratories, hospitals, university medical centers and biopharmaceutical companies in the United States and Europe have adopted the company’s technology.
ChromaVision and ACIS are registered trademarks of ChromaVision. For more information, visit http://www.chromavision.com .
ChromaVision is a majority owned subsidiary of Safeguard Scientifics, Inc. (NYSE: SFE). Safeguard Scientifics is a committed strategic growth partner for companies in the Time-to-Volume stage of development. Time-to-Volume companies are those that are generating revenues from a commercially viable product or service, but are facing new challenges as they scale their businesses to meet market opportunities. Focused primarily on the information technology and life sciences sectors, Safeguard generally acquires majority ownership interests in companies at this stage of growth. In addition to expansion capital, Safeguard provides its companies a wide range of operating and managerial expertise to drive their successful growth to become market leaders. For more information about Safeguard and its strategy, visit http://www.safeguard.com
