June 20, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Accelr8 Technology Corp. (AMEX: AXK) said that it has signed a technology evaluation agreement for its BACcel rapid diagnostic system with a global diagnostics company.

According to Accelr8, the short-term agreement includes an option for a license to complete product development, obtain regulatory approvals, and produce and market diagnostic products based on the technology in global markets.

The agreement calls for an initial payment plus scheduled payments of additional funds until completion of data evaluation, Accelr8 said.

The project incorporates analysis of data being collected in pre-clinical and pilot studies already initiated at the Denver Health Medical Center, and at the Barnes-Jewish Hospital in St. Louis. In addition, Accelr8 will share data and materials related to its ongoing development of advanced tests for antibiotic resistance detection.

Colorado-based Accelr8 Technology is a developer of materials and instrumentation for advanced applications in medical instrumentation, basic research, drug discovery, and bio-detection.

The firm is developing a rapid analytical platform for infectious pathogens, the BACcel system, based on its surface coatings, assay processing, and detection technologies. In addition, Accelr8 licenses certain of its proprietary technology for use in applications outside of Accelr8’s own products.

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