Company’s GB550 decreases test time, increases throughput for labs; increases potential revenue per instrument by 35 – 40 percent
Salt Lake City, June 17, 2016 – Great Basin Scientific, Inc. (NASDAQ: GBSN), a molecular diagnostics company, unveiled today at ASM Microbe 2016 the Company’s enhanced molecular diagnostic analyzer that will allow for faster test times and increased throughput, using streamlined design, intuitive user interface and a smaller footprint. Great Basin will be demonstrating this new analyzer, the GB550, at the American Society for Microbiology Microbe conference in Boston, Mass. at its exhibition booth, 219.
“Versatility, cost-effectiveness and ease-of-use are our focus as we develop molecular diagnostic solutions to meet the needs of a wide variety of underserved hospitals and clinics,” said Ryan Ashton, co-founder and Chief Executive Officer of Great Basin Scientific. “We’re pleased with the ongoing improvements we’ve made to our original instrument and how those efforts have informed the design of the GB550. Our customers will enjoy the smaller footprint, improved ease-of-use and reduced test time, which we believe will make our system even more attractive to a wider variety of users that, in turn, will allow us to expand our footprint of installed sites. And, important to our business model, the ability for improved productivity per analyzer increases the Company’s potential revenue per instrument by 35-40 percent.”
The GB550 will allow lab technicians to process tests in 75-90 minutes with the potential for some tests to process in less than an hour, and includes an integrated touchscreen and barcode scanner, which decreases the overall footprint and eliminates the need for external cables. The analyzer features a simplified software interface and will be compatible with all existing and future Great Basin tests and panels, including the Company’s tests for Toxigenic Clostridium difficile (C. diff), Group B Streptococcus (GBS), as well as the newly cleared Shiga Toxin Direct Test and the Staph ID/R Blood Culture Panel. Great Basin expects to begin delivery of the new analyzer in the first half of 2017.
Through a customer-centric business model, Great Basin provides its analyzer units to labs and hospitals at no cost to the customer with no minimum volume commitment and no contracts.
About Great Basin Scientific
Great Basin Scientific is a molecular diagnostics company that commercializes breakthrough chip-based technologies. The Company is dedicated to the development of simple, yet powerful, sample-to-result technology and products that provide fast, multiple-pathogen diagnoses of infectious diseases. The Company’s vision is to make molecular diagnostic testing so simple and cost-effective that every patient will be tested for every serious infection, reducing misdiagnoses and significantly limiting the spread of infectious disease. More information can be found on the company’s website at www.gbscience.flywheelsites.com.
This press release includes forward-looking statements regarding the Company’s continuing business efforts related to its products, including but not limited to, statements regarding potential increases in revenue per instrument, the analyzer product performance and efficiency and other similar statements. Forward-looking statements involve risk and uncertainties, which could cause actual results to differ materially, and reported results should not be considered as an indication of future performance. These risk and uncertainties include, but are not limited to: (i) our limited operating history and history of losses; (ii) our ability to develop and commercialize new products and the timing of commercialization; (iii) our ability to obtain capital when needed; and (iv) other risks set forth in the Company’s filings with the Securities and Exchange Commission, including the risks set forth in the company’s Annual Report on Form 10-K for the year ended December 31, 2015 and the company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2016. These forward-looking statements speak only as of the date hereof and Great Basin Scientific specifically disclaims any obligation to update these forward-looking statements, except as required by law.