Rapid growth in product sales, customer accounts drives need for expanded infrastructure
MADISON, Wis.--(BUSINESS WIRE)-- EraGen Biosciences Inc. today announced that it has applied the $244,500 grant it was awarded recently through the Qualifying Therapeutic Discovery Project Program to support the expansion of the company’s manufacturing operations.
The grant-supported expansion is part of a broader effort by EraGen to meet the growing demand for its MultiCode® molecular diagnostic products, including the company’s HSV 1&2 Kit, the first FDA-cleared, PCR test for herpes simplex virus 1&2 detection and typing from vaginal lesion specimens. EraGen’s revenue is on track for a year-over-year increase of more than 30 percent, fueled by significant customer account growth during 2010 that positions the company for continued accelerated growth.
“The impressive volume growth that EraGen is generating has called for a concerted effort to expand both our manufacturing and commercial infrastructure,” said Irene Hrusovsky, M.D., president and chief executive of EraGen. “The company’s plan to bring additional, high value products through clinical trials for FDA approval only makes these efforts more timely and important. With our therapeutic discovery grant funds, EraGen is able to make critical enhancements to our manufacturing operations that expand capacity while ensuring the highest level of quality.”
About EraGen Biosciences
EraGen Biosciences develops, manufactures and markets molecular reagent products that are driving a new era in clinical diagnostics. The company’s in-market and pipeline products, based on its novel, patented MultiCode® platform chemistry, are the next generation of DNA- and RNA-based testing for the early detection of infectious diseases and genetic-based conditions. EraGen’s expanding menu of high quality, easy-to-use products position the company for leadership in the molecular diagnostics market. For more information, visit the EraGen website at www.eragen.com.
The Luminis Group, Ltd.
for EraGen Biosciences Inc.
Rod Hise, 608-770-7850
KEYWORDS: United States North America Wisconsin
INDUSTRY KEYWORDS: Health Biotechnology Genetics Infectious Diseases Medical Devices Other Health