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This is Chris Redgrave for Zions Bank Speaking on Business.
In 2004, Rex Spendlove, founder of Hyclone Laboratories and Spendlove Medical Research Institute, created an important new technology for pharmaceutical companies. After realizing its wide potential, he created Quansys Biosciences as a way to market the technology.
The main focus for Quansys is looking for a new low-cost, high-quality approach to disease-related biomarkers. What this means is they're creating a technology to perform multiple tests with one blood sample verses only one test per vial of blood at the same price.
For example, with the diabetes test, you can now use the same sample to look at proteins to test for other diabetic concerns. Since just one test can run around $300, this could save you the expense of paying for each test individually. It also helps in instances where it's difficult to continue to draw blood for further testing, such as neonatal cases, or premature babies, where blood supply is extremely limited.
Matt told me this technology has been enthusiastically received already by some of the largest pharmaceutical companies in the world. It has the potential to address some of the top concerns with the healthcare industry and save patients thousands of dollars.
Of course working with Rex Spendlove and a research and development university like Utah State also has its benefits. USU is one of his key customers and has been an important part of getting his product out into the market. As a side note, you should know that USU spun out a record number of patents and disclosures in 2009. It's a major research university with ties to the Department of Defense and NASA.
Genomics is huge. And it involves many areas of study including seed genetics and how to eliminate pests that affect the seeds for food development. This is one area Quansys Biosciences is focusing on. Obesity and inflammation are other critical research areas for which Quansys ahs provided products to the market. This is essential work since studies indicate that in only 40 years one in three Americans could be suffering from diabetes and childhood obesity has more than tripled in the last 30 years.
For Zions Bank, I'm Chris Redgrave, speaking on business
