Micro Imaging Technology, Inc. (MMTC)

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Micro Imaging Technology, Inc. (MMTC)

Postby QualityStocks » Mon Dec 21, 2009 10:30 am

Micro Imaging Technology, Inc. is a development stage public company focused on becoming a global leader in developing, supporting and marketing rapid systems and processes that detect and identify microbial organisms. The company has developed and patented a technology for rapid microbe identification. This technology is a non-biological identification process that is extremely fast, easy to use and does not rely on conventional chemical or biological processing, fluorescent tags, gas chromatography or DNA analysis.

The system significantly reduces the time and expense for testing procedures and has the ability to test for multiple bacteria in one process. The system is statistically based and embodies a unique MIT Microbe Library of pre-measured light scattering identifiers - or fingerprints - derived from the measurements of tens of thousands of individual microbes for each species and subspecies to be detected. The Microbe Library is founded on basic measurements that differentiate one microbe from another and is general, flexible and easily extended to non-biological particles - with new microbe identities quickly and easily added.

MIT concluded "Proof-of-Principle" testing in 1999. During 2005, prototype systems were constructed that demonstrated the ability to detect and identify the pathogenic microbes Cryptosporidium, Giardia, E. coli, Listeria, and Salmonella. Later, two patents were awarded which will be further expanded as research and development progresses. During the second half of 2006, a small number of pre-production units were assembled. Initial customer installations began in mid 2007.

The value of this system is outstanding when compared to other testing methods. The cost per test (after culturing) is estimated to be approximately ten cents, which compares to an average rapid identification cost of $2.85. With annual revenues for bacteria rapid testing currently exceeding $5 billion, MIT is well positioned with its technology to achieve substantial growth in a very short time.
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