LeukoDx Receives Third Year Chief Scientist Grant for 50% of $1.15 Million R&D Budget

JERUSALEM--(Marketwire - May 15, 2012) - LeukoDx Ltd. is pleased to announce that it has secured approval for a grant from the Office of the Chief Scientist in Israel for the third year. The approved budget for 2012 is NIS 4.358 million (about US$1.15 million) supported at 50% of R&D spending.

LeukoDx is focused on exploiting the power of flow cytometry and dramatically expanding its use for diagnostics by developing affordable and simple to use micro-flow cytometer systems. The Point of Care systems developed by LeukoDx combine a small footprint reading instrument with compact single use test cartridges. The approved grant will enable LeukoDx to complete the development of a fully functional instrument and cartridge prototype. Subsequently the company will engage in clinical validation while developing the final commercial instrument.

About LeukoDx

LeukoDx was created in 2009. Its technology development is based on a novel flow cytometry platform initially developed for NASA at CalTech. LeukoDx's mission is to deliver cost-effective, highly sensitive and actionable diagnostic information at the point of care with its novel automated IVD flow cytometry platform. Working towards this goal, the company is developing a compact reader for single use test-specific cartridges. The first test application is for sepsis and is based on the CD64 neutrophil activation assay developed under exclusive license (for Point of Care) by Trillium Diagnostics. Sepsis is associated with high morbidity and mortality which places a large burden upon healthcare resources worldwide where no rapid and reliable diagnostic test exists today. LeukoDx is seeking collaboration and partnership with biotechnology and in vitro diagnostic companies to broaden the range of test candidates to be implemented on its platform.