Persistent Systems Invests in DxNow Boston-Based Life Sciences Start-Up Second Recipient of Persistent Venture Fund PUNE, INDIA and SANTA CLARA, CA and BOSTON, MA -- (Marketwired) -- 12/18/13 -- Persistent Systems (BOMBAY: PERSISTENT) (NSE: PERSISTENT), the global leader in software product and technology services, today announced that it has invested in DxNow, a privately held Boston company that is developing advanced micro-fluidic and imaging technologies for point-of-care diagnostic solutions. DxNow is the second recipient to receive seed money from the Persistent Venture Fund, an early-stage investment fund announced last month, focused on supporting innovation in areas of Persistent's expertise and involving social, mobile, analytics and cloud computing (SMAC) technologies. DxNow products and technologies will be initially applied to infection detection in renal dialysis patients and will subsequently address applications in forensics, male fertility, global health and rapid detection of microbial species in the environment to ensure public health and safety. The product related to dialysis, the DxNow Infection Detection System(TM), will be a simple-to-use micro-fluidic device that enables early detection of infection in peritoneal dialysis (PD) patients, before the infection has serious health impacts. The system will alert patients and caregivers simultaneously when an infection is detected via easy to use enabling technology that allows for timely clinical intervention -- reducing the need for costly emergency room visits and hospitalization. DxNow will use mobility and cloud computing to help ensure timely, accurate and effective monitoring for the onset of infection -- critical to reducing costs and improving patient outcomes. "Today there are approximately 300,000 PD patients worldwide and that number is expected to grow to more than 400,000 in the next four years," said William T. Sharp, CEO, DxNow. "Our goal is to provide a device that delivers better patient outcomes, and reduced costs and complications, as well as peace of mind for PD patients and their caregivers by enabling early clinical intervention when infection is detected. Persistent Systems expertise in life sciences as well as mobile and cloud computing make them an ideal partner." "DxNow is providing an innovative solution to a critical problem, reducing the current time of infection detection from days to minutes with greater accuracy," said Dr. Sridhar Jagannathan, Chief Innovation Officer, Persistent Systems, Inc. "Our investment in DxNow draws on Persistent's significant expertise in medical technologies and life sciences. We look forward to advantaging DxNow in their journey to creating breakthrough products and saving lives." For additional information on the Persistent Venture Fund, please email email@example.com. About DxNow: DxNow is a privately held company located in the Boston area leveraging advanced microfluidic and imaging technologies for point-of-care diagnostic solutions. DxNow products and technologies will be applied to applications in dialysis, male fertility, global health, and rapid detection of microbial species in the environment, contributing to public safety and health in the applied life sciences. For more information, please visit: http://www.dxnowinc.com. About Persistent Systems: Persistent Systems (BOMBAY: PERSISTENT) (NSE: PERSISTENT) is a global company specializing in software product and technology services. For over two decades, Persistent has consistently been selected as the trusted innovation partner for the world's largest technology brands, leading enterprises and pioneering start-ups. Persistent has a global team of more than 7,000 employees worldwide including offices and delivery centers in North America, Europe and Asia-Pacific. Persistent develops best-in-class solutions in key next-generation technology areas including Analytics, Big Data, Cloud Computing, Mobility and Social, for the telecommunications, life sciences, healthcare and banking & financial services verticals. For more information, please visit: http://www.persistent.com. All trademarks, trade names, service marks, and logos referenced herein belong to their respective companies. Media contacts: Rashmi Joshi Persistent Systems Ltd. Tel: 91 83083 39400 Email: firstname.lastname@example.org Ilona Mohacsi PenVine Tel: +16317643729 Email: email@example.com For DxNow, Inc.: Ryan Ferrell Harris D. McKinney Mobile: 312 208 8600 Email: firstname.lastname@example.org
Persistent Systems Invests in DxNow
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