bioLytical Laboratories named BC Export Award Finalist

RICHMOND, BC, Nov. 9, 2017 /CNW/ - bioLytical Laboratories has been announced as a finalist of Business in Vancouver's 2017 BC Export Awards in the Emerging Exporter category.

bioLytical is the developer and manufacturer of INSTI, an HIV test that provides results in 1 minute.  Headquartered in Richmond, bioLytical employs 60 people in BC in addition to a sales force in the US.

"We sell the innovative INSTI technology in nearly 60 countries globally," said Livleen Veslemes, Chief Operating Officer and Chief Financial Officer. "Last year, 91% of our revenues came from HIV tests that were manufactured in BC and exported to other countries.  We have 80% market share in the UK and 90% market share in France."

"Our growth has been driven by countries scaling up Point of Care HIV testing and we expect this trend to continue as new policies to eliminate HIV continue to be implemented all over the world.  Getting tested is the first step.  If we are negative we want to ensure we stay negative through prevention and if we test positive, we want to get on treatment as early as possible to maintain our health and longevity," says Livleen.

HONOURING BC'S TOP EXPORTERS:

The BC Export Awards are the province's most prestigious awards paying tribute to the success and innovative approaches of BC export companies. The awards program annually seeks out BC's top exporters and honours them for their achievements in 9 categories, including 8 directed at firms and 1 at individuals. The Awards are presented by Business in Vancouver, the Government of British Columbia and the BC Division of Canadian Manufacturers & Exporters with support from annual sponsors. It is the oldest awards ceremony of its kind in Canada. Conceived in 1982, the program has recognized over 300 companies since its inception, reflecting the growth and diversity of BC's economy over the past 30 years.

The objectives of the BC Export Awards are:

• To increase awareness amongst British Columbians of the important role that exporting makes to the provincial economy.
• To identify and reward British Columbia's most successful and innovative exporters.
• To promote BC's top exporters as corporate role models in order to stimulate greater involvement in exporting amongst the province's business community.
• To further develop community awareness of the importance of exporting to the province's economic future

Past winners of the BC Export Awards provide examples of the outstanding talent and expertise that exists within companies from across British Columbia. Many of the BC winners have gone on to international recognition.

This year's BC Export Awards will take place November 24, 2017 at the Hyatt Regency Hotel Vancouver (655 Burrard St., Vancouver, BC). For more information about the BC Export Awards, visit www.bcexportawards.com.

About bioLytical Laboratories Inc.

bioLytical Laboratories is a privately owned Canadian company engaged in the research, development and commercialization of rapid, point-of-care in vitro medical diagnostics using its proprietary INSTI™ technology platform.  Today, the company markets and sells its signature INSTI™ HIV test and has a world-wide footprint of regulatory approvals including U.S. FDA approval, Health Canada approval and CE mark from European regulators.  Their product provides a highly accurate HIV test result in as little as 60 seconds translating into a compelling value proposition for patients, healthcare professionals and public health organizations.  For more information on bioLytical Laboratories, please visit www.biolytical.com.

SOURCE bioLytical Laboratories