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Luminex Corp.

ABA11 Winner / How to Enter

Company: Luminex Corp., Austin, TX
Company Description: Luminex develops, manufactures and markets innovative biological testing technologies with applications throughout the diagnostic and life science industries. The company’s open-architecture xMAP® and xTAG® Technologies enable large numbers of biological tests (bioassays) to be conducted and analyzed quickly, cost-effectively and accurately.
Nomination Category: Company / Organization Categories
Nomination Sub Category: Business Innovation of the Year

Nomination Title: Luminex Corp.'s MAGPIX

    Tell the story about what this nominee achieved since January 1 2010 (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 Corp's MAGPIX instrument, a 2010 Medical Design Excellence Award winner, was designed to meet the needs of laboratories, academic researchers and scientists who have been unable to take advantage of the power of multiplexing, in many cases due to insufficient funding or physical space to install a large, high throughput, higher-end instrument. With its lower cost and smaller footprint, MAGPIX makes multiplexing accessible to these end users.

        MAGPIX provides fast, accurate and easily reproducible results that can advance
many types of scientific research or ease custom assay development. The richer
data delivered per experiment yields deeper insights that translate into better
care or improved understanding about health and disease. Assays are easy to
design and run on the system, and deliver a flexibility that enables labs to
expand their test menus.

        With its ability to perform many tests simultaneously, the instrument saves
vital time, and consumes less sample and other consumables than other laboratory
technologies. As a result, the cost per sample has been estimated at up to four
times less than traditional assays such as ELISA.

        The instrument was designed to be very compact – comparable in size to a desktop
computer and weighing less than 40 lbs. With laboratory space at a premium in
many settings, this helps to manage costs and resources. MAGPIX’s robust design
makes it easy to install out of the box and deploy anywhere in the world.

        By bringing a compact, cost-effective, easy-to-deploy multiplexing solution to
scientists in laboratories of all kinds, MAGPIX helps make scientific discovery
and laboratory medicine faster, more effective, and more efficient, improving
the delivery of healthcare to people around the world.

        MAGPIX also benefits patients through its ability to deliver sample results
quickly and effectively. In multiplexed testing, many different analytes may be
measured in the same sample well simultaneously. By inventing a system that
generates parallel, rather than serial, results, the overall time required to
process each sample is shortened. For clinical labs running custom assays, this
means that they can deliver results to ordering physicians, and in turn, to
patients, more quickly.

        The MAGPIX platform requires less sample volume than legacy technologies. For
precious samples that are of small quantity, such as pediatric or
difficult-to-produce research samples, the ability to generate more information
from each sample is extremely valuable. This system can perform up to 50 tests
in a single reaction well, reducing not only the required sample volume but also
the reagents and labor necessary, which all contribute to improved productivity.

        Benefits include:
• Less blood or other sample required
• Faster receipt of test results
• Lower cost
• High quality and accuracy of the results due to equipment durability and
reliability

        In conclusion, MAGPIX combines the reliability of yesterday’s lab equipment with
the innovative thinking, low cost and size required to empower the healthcare
industry with the ability to produce fast, reliable test results at a greatly
reduced cost which, ultimately, translates into fast, reliable, affordable
results for patients everywhere.

    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://phx.corporate-ir.net/phoenix.zhtml?c=79403&p=irol-newsArticle&ID=1452345&highlight=
http://phx.corporate-ir.net/phoenix.zhtml?c=79403&p=irol-newsArticle&ID=1460581&highlight=
http://phx.corporate-ir.net/phoenix.zhtml?c=79403&p=irol-newsArticle&ID=1468484&highlight=
http://phx.corporate-ir.net/phoenix.zhtml?c=79403&p=irol-newsArticle&ID=1475588&highlight=
http://www.canontradeshows.com/expo/awards/news/pressrelease_canon_7.php
http://phx.corporate-ir.net/phoenix.zhtml?c=79403&p=irol-newsArticle&ID=1547928&highlight=

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

        Luminex president and CEO since May 2004, Patrick J. Balthrop, has over thirty
years of experience in health care and the medical device industry, including a
diverse track record of achievements as an innovator, product developer, and
accomplished business executive. He previously served as president of Fisher
Healthcare, a Fisher Scientific International company, from 2002 to May 2004.
Since joining Luminex, Mr. Balthrop has developed and executed a strategic
growth plan based on innovation in science and technology, successfully
transforming the company with revenues at Luminex having grown at a compounded
annual growth rate in excess of 20 percent.