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Luminex Corp.

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Company: Luminex Corporation, Austin, TX
Entry Submitted By: Seigenthaler Public Relations
Company Description: Luminex® (NASDAQ: LMNX) develops, manufactures and markets innovative biological testing technologies with applications throughout the life science and diagnostic industries. The company’s open-architecture xMAP® technology enables large numbers of biological tests (bioassays) to be conducted and analyzed quickly, cost-effectively and accurately.
Nomination Category: Company Categories
Nomination Sub Category: Most Innovative Company of the Year

Nomination Title: Luminex, Most Innovative Company

Tell the story about what this nominated company achieved since January 1 2008 (up to 500 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms. Be sure to mention obstacles overcome, innovations or discoveries made, and outcomes:

Luminex was founded on the principle that its multiplexing technology platform,
xMAP Technology, which gives scientists the ability to run several,
simultaneous tests on one patient sample, could dramatically improve science
and healthcare by providing quick, accurate and cost-effective results.

The company launched into a crowded marketplace in 1995.  It began establishing
partnerships to spur adoption of xMAP Technology across science and healthcare.

In 2004, Patrick Balthrop joined Luminex as president and CEO.  He dug into
every layer of Luminex and its market opportunity, and created a strategic
growth plan to launch Luminex into new markets and diverse geographies.  

Balthrop grew Luminex’s partner base to explore novel uses for xMAP Technology,
launched an aggressive internal R&D program, and sought acquisitions that could
expand Luminex’s product portfolio and market reach.

Today, Luminex is the worldwide leader in multiplexed solutions. More than
6,000 Luminex instruments can be found in labs worldwide, and xMAP Technology
is assisting scientists across disciplines in a variety of ways from preventing
organ rejection in transplant patients, to discovering new drugs, to keeping
our nation safe from terror attacks.

Key highlights for 2008 include:

- The launch of the xTAG Respiratory Viral Panel, a test that allows doctors to
detect several respiratory viruses at once.  The test, which received
regulatory clearances in the US and Canada in 2008, is helping doctors improve
patient care, reduce the inappropriate use of medications, and enhance virus
surveillance.

- The first commercial shipment of FLEXMAP 3D, a system designed to meet the
high throughput multiplexing needs of academic, reference, pharmaceutical
research and other medium and high volume laboratories.  It measures up to 500
analytes in a single well. 

- An agreement with Becton-Dickinson to create diagnostic tests that enable
earlier diagnosis of cancer.

- Collaborations with Tyson Foods and Wageningen University Research Centre to
create tests in food safety, animal health and plant pathogen detection.

- An agreement with Mingyuan Medicare Development Company for a series of
newborn screening products to be sold in China and Hong Kong.

- Record 2008 financial and operational results including revenues $104.4
million, a 39 percent increase over 2007, and a record 915 instrument shipments
for the year.  

- Luminex’s xTAG Cystic Fibrosis (CF) Kit was selected to screen newborns at
risk for CF in Ontario.

- Luminex was named by Forbes as one of the 25 Fastest-Growing Technology
Companies in America for 2008.   

At its core, Luminex’s most important contribution is its work to positively
impact the health, safety and quality of life of people worldwide. In
collaboration with its customers and partners, Luminex is leveraging its xMAP
Technology to make science and healthcare faster, more accurate, more efficient
and more cost effective.

Luminex holds 76 patents and has 201 patents pending for its technology.  In
addition to an exciting pipeline of new tests for many genetic and infectious
diseases, Luminex is developing a small, lightweight and lower cost instrument
that will complete its portfolio of systems for scientists with a range of
multiplexing needs.

List hyperlinks to any online news stories, press releases, or other documents that support the claims made in the section above. IMPORTANT: Begin each link with http://, and enclose each link in square brackets; for example, [http://www.youraddress.com]:

http://www.forbes.com/2009/02/18/biological-testing-luminex-personal-finance-investing-ideas_0218_drug_testing.html
http://www.designnews.com/article/6039-Medical_s_Mini_Revolution.php?text=luminex
http://www.tmworld.com/article/CA6582580.html?q=luminex
http://www.mmm-online.com/Antidote/article/104833/
http://blog.wired.com/wiredscience/2008/01/speedy-new-medi.html
http://blogs.wsj.com/health/2008/02/05/quick-tests-speed-diagnosis-of-infection/
http://online.wsj.com/article/SB122574959487594607.html
http://www.clpmag.com/news/2008-06-10_02.asp
http://www.abbottmolecular.com/xTAGRespiratoryViralPanel_48116.aspx
http://biotechdaily.com/?option=com_article&Itemid=294721186&cat=Lab%20Technologies

Provide a brief (up to 100 words) biography about the leader of this nominated company:

Patrick J. Balthrop joined Luminex Corporation as President and CEO in May
2004. Prior to joining Luminex, Mr. Balthrop served as President of Fisher
Healthcare, a Fisher Scientific company, where he led a $1 billion integrated
business, and held various leadership positions at Abbott Laboratories,
including head of worldwide commercial diagnostics operations for Abbott’s
Diagnostics Division.

Mr. Balthrop’s career experience has included research and development,
commercial operations, manufacturing, international operations and intellectual
and technology property management. He holds a master of business
administration from Northwestern University's Kellogg School of Management and
a bachelor of science from Spring Hill College.