Accelr8 Announces Option Exercise to Continue BACcel Technology Evaluation, and Additional Presentations at Major Medical Meetings

Accelr8 Technology Corporation AXK announced that it received notification by its industry collaborator of exercise of an option to continue its technology evaluation program for Accelr8's BACcel rapid diagnostic system. As previously announced, the two companies have an agreement that contains the option to continue through June 30, 2011. The option exercise extends the exclusivity period for good faith negotiations of business terms for a definitive agreement on a formal business relationship. The extension period now encompasses milestones related to product development.