Magnetics Business & Technology - September/October 2021 - 8

FEATURE ARTICLE
Driven by Global Pandemic, Magnetic Diagnostics Tools from Luminex Take Part in 98%
Jump in Business
" I'm very pleased with the performance of our diversified business
during these very challenging times, " said Nachum " Homi "
Shamir, chairman, president and CEO. " Our team continues
to execute on our key role in addressing the demands of this
pandemic. With strong revenue growth, improved gross margins
and continued control over operating expenses, we are seeing
healthy profitability and cash flow. "
The boom in business will continue into 2021, he projected.
" Based on our current estimates, we anticipate surpassing our
$500 million annual revenue target much sooner than we previously
expected, while continuing to build an outstanding company. "
Your
line of business can make a big difference in a pandemic.
Just ask the makers of disinfecting wipes and vaccines, or companies
like Luminex that make magnetic particles and diagnostic
kits for health science laboratories, such as its high-volume
500-analyte assay depicted above.
Driven by growth from the global pandemic, Luminex revenues
overall rose 35% in the third quarter of 2020 compared to the
same period a year earlier, but its molecular diagnostics sector
which encompasses magnetic particles and magnetic separations
tools for laboratory analysis nearly doubled. Total revenue
company-wide for the three months ended September 30 was
$106 million while profitability, bolstered by 60% gross margins,
was also higher. Its molecular diagnostics sector, however,
jumped 98% to nearly $60 million in revenues.
Since the COVID-19 pandemic began, Luminex has expanded
capacity for SARS-CoV-2 testing across all of its molecular platforms
and, in July, was acquired for $1.8 billion.
MAGPIX, left, one of several instruments Luminex makes for its assays
MAGPIX is the simplest, most affordable and compact of the
company's xMAP instruments. Optimized for handling magnetic
particle assays, the compact multiplexing unit can perform up to
50 different tests in a single reaction volume and reads a 96-well
plate in just 60 minutes, attributes appreciated by life science
labs seeking faster methods for their analyses to meet the
demands of Covid-19. It is designed as a simple and easy to use
instrument with a smaller footprint.
Luminex 500-analyte assays speed up lab work
Based in Austin, Texas, Luminex develops and manufactures
proprietary biological testing technologies, with applications
throughout the life-sciences industry. Among these are an extensive
line of products that are based on magnetics technology,
such as its high-volume 500-analyte assay depicted above. In
response to the global outbreak of the novel coronavirus disease,
Luminex has developed multiple solutions to enhance its offerings
to automate and facilitate the detection of SARS-CoV-2 and
COVID-19 research.
8 Magnetics Business & Technology * September/October 2021
The company's xMAP beads come in a variety of formats including
MagPlex which are magnetic and MicroPlex non-magnetic
beads. The magnetic microspheres can measure up to 500 targets
simultaneously enabling the development of assays which
can measure up to 500 different analytes in the same well, as
depicted in the image above. The magnetic beads are universally
compatible with all xMAP Instruments.
Similar to the company's other microspheres, the MagPlex beads
are carboxylated polystyrene microparticles that have been
dyed into spectrally distinct sets, or regions, allowing them to
be individually identified by the instrument. The uniquely coded
www.MagneticsMag.com
As a high-throughput, more comprehensive option for high-complexity
labs, the company developed its NxTAG CoV Extended
Panel which can detect SARS-CoV-2 and has received emergency
use authorization in the US and Canada. The panel is a
qualitative, multiplex, nucleic acid test for the detection of SARSCoV-2
in nasopharyngeal swab samples. Designed for use on
the company's MAGPIX instrument system, the panel detects
three separate gene targets to ensure accurate, reliable results.
http://www.MagneticsMag.com

Magnetics Business & Technology - September/October 2021

Table of Contents for the Digital Edition of Magnetics Business & Technology - September/October 2021

Magnetics Business & Technology - September/October 2021
Editor’s Choice/ Features
Reduced-Helium Magnets from Philips a Game-Changer in MRI Scanners
Driven by Global Pandemic, Magnetic Diagnostics Tools from Luminex Take Part in 98% Jump in Business
World’s Most Powerful Tidal Turbine Launched Offshore Scotland
Research & Development
Product News
Industry News
Events Calendar/ Advertising Index
Magnetic Levitation Studied at JPL for Moving Payloads Around the Moon
Visions
Magnetics Business & Technology - September/October 2021 - Magnetics Business & Technology - September/October 2021
Magnetics Business & Technology - September/October 2021 - Cover2
Magnetics Business & Technology - September/October 2021 - 3
Magnetics Business & Technology - September/October 2021 - Editor’s Choice/ Features
Magnetics Business & Technology - September/October 2021 - 5
Magnetics Business & Technology - September/October 2021 - Reduced-Helium Magnets from Philips a Game-Changer in MRI Scanners
Magnetics Business & Technology - September/October 2021 - 7
Magnetics Business & Technology - September/October 2021 - Driven by Global Pandemic, Magnetic Diagnostics Tools from Luminex Take Part in 98% Jump in Business
Magnetics Business & Technology - September/October 2021 - 9
Magnetics Business & Technology - September/October 2021 - 10
Magnetics Business & Technology - September/October 2021 - 11
Magnetics Business & Technology - September/October 2021 - 12
Magnetics Business & Technology - September/October 2021 - 13
Magnetics Business & Technology - September/October 2021 - 14
Magnetics Business & Technology - September/October 2021 - 15
Magnetics Business & Technology - September/October 2021 - World’s Most Powerful Tidal Turbine Launched Offshore Scotland
Magnetics Business & Technology - September/October 2021 - 17
Magnetics Business & Technology - September/October 2021 - Research & Development
Magnetics Business & Technology - September/October 2021 - 19
Magnetics Business & Technology - September/October 2021 - Product News
Magnetics Business & Technology - September/October 2021 - 21
Magnetics Business & Technology - September/October 2021 - 22
Magnetics Business & Technology - September/October 2021 - 23
Magnetics Business & Technology - September/October 2021 - 24
Magnetics Business & Technology - September/October 2021 - 25
Magnetics Business & Technology - September/October 2021 - Industry News
Magnetics Business & Technology - September/October 2021 - 27
Magnetics Business & Technology - September/October 2021 - 28
Magnetics Business & Technology - September/October 2021 - 29
Magnetics Business & Technology - September/October 2021 - 30
Magnetics Business & Technology - September/October 2021 - 31
Magnetics Business & Technology - September/October 2021 - Events Calendar/ Advertising Index
Magnetics Business & Technology - September/October 2021 - 33
Magnetics Business & Technology - September/October 2021 - Visions
Magnetics Business & Technology - September/October 2021 - Cover3
Magnetics Business & Technology - September/October 2021 - Cover4
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2023januaryfebruary
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2022novemberdecember
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2022septemberoctober
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2022julyaugust
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2022mayjune
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2022marchapril
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2022januaryfebruary
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2021novemberdecember
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2021septemberoctober
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2021julyaugust
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2021mayjune
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2021marchapril
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2021januaryfebruary
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2020novemberdecember
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2020septemberoctober
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2020julyaugust
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2020mayjune
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2020marchapril
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2020januaryfebruary
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2019novemberdecember
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2019septemberoctober
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2019julyaug
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2019mayjune
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2019marchapril
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2019janfeb
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2018winter
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2018summer
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2018spring
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2017winter
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2017summer
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2017spring
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2016winter
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2016summer
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2016spring
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2015winter
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2015summer
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2015spring
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2014winter
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2014summer
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2014spring
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2013winter
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2013fall
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2013summer
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2013spring
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2012winter
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2012fall
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2012summer
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2012spring
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2011winter
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2011fall
https://www.nxtbook.com/nxtbooks/webcom/magnetics_2011summer
https://www.nxtbookmedia.com