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Thermo Fisher's (TMO) Rapid DNA Solution Gets FBI Approval
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Thermo Fisher Scientific Inc. (TMO - Free Report) recently announced the receipt of the Federal Bureau of Investigation (FBI) approval for the company's Applied Biosystems RapidHIT ID DNA Booking System for use by law enforcement booking stations. RapidHIT ID DNA will enable booking stations to automatically process, upload and search DNA reference samples from qualifying arrestees against the U.S. National DNA Index System (NDIS) CODIS database.
The RapidHIT ID DNA Booking System supported by a world-class network of training, service and support experts allows law enforcement agencies to conserve valuable investigative and DNA laboratory resources, minimizing criminal justice system costs and at the same time increasing public safety.
With the recent achievement, Thermo Fisher’s Human Identification business will get a significant boost. This will help the company remain committed to partnering with the criminal justice community to ensure success of booking station implementation and to maintain the standards of quality and integrity described by the forensics community.
More on RapidHIT ID DNA Booking System
The RapidHIT ID DNA Booking System is a fully automated, sample-to-answer genetic analyzer that processes DNA samples and enrolls arrestees and searches in CODIS in nearly 90 minutes. This offers actionable information to rapidly inform investigations, capture repeat offenders and exonerate the innocent, thus supporting to make communities safer.
Image Source: Zacks Investment Research
The company also noted that the system was developed specifically with the requirements of booking stations in mind. The system works with a wide range of commonly used DNA collection swabs, enables seamless integration of DNA profiles with Live Scan terminals and other biometric information systems to align with FBI, state, and agency requirements and allows for real-time analysis of single samples.
Additionally, the embedded auditing, reporting, and training tools help maintain security and compliance with FBI guidelines.
Significance of the Approval
Per Thermo Fisher’s management, NDIS approval of the RapidHIT ID DNA Booking System is a crucial step in supporting the FBI's vision of searching CODIS while a qualifying arrestee is in police custody.
The rapid DNA analysis at the point of booking is a powerful investigative tool that can rapidly and safely link arrested individuals with other serious crimes, thus providing significant benefits to public safety. DNA processing and searching, while the suspect is in custody, considerably reduces the time to spot or eliminate a potential suspect and decreases the opportunity for reoffending or fleeing.
Industry Prospects
Human identification is widely used in forensics, paternity testing, disaster victim identification, and anthropology, with DNA analysis/profiling being a key tool.
Per a report by MARKETSANDMARKETS, the global human identification market is expected to reach $1.74 billion by 2022 from $0.92 billion in 2017, at a CAGR of 13.4%. The government initiatives focused on market players on expanding their presence, reach and technological advancement are driving the market.
Notable Developments
In June 2021, Thermo Fisher launched the new Quick to Clinic solution to help biologic drug developers accelerate preclinical development. To accelerate the journey from DNA to drug product, new and emerging biopharma companies working on early development can now leverage a better lab to clinic drug development solution.
In May 2021, Thermo Fisher entered into an alliance with the University of California, San Francisco (UCSF), to open a cell therapy cGMP manufacturing and collaboration center. Notably, the new facility will offer end-to-end solution to boost development and manufacturing of cell-based therapies.
Price Performance
Shares of the company have gained 36.5% in a year’s time compared with the industry’s growth of 23.8%.
Zacks Rank and Key Picks
Currently, the company carries a Zacks Rank #5 (Strong Sell).
Image: Shutterstock
Thermo Fisher's (TMO) Rapid DNA Solution Gets FBI Approval
Thermo Fisher Scientific Inc. (TMO - Free Report) recently announced the receipt of the Federal Bureau of Investigation (FBI) approval for the company's Applied Biosystems RapidHIT ID DNA Booking System for use by law enforcement booking stations. RapidHIT ID DNA will enable booking stations to automatically process, upload and search DNA reference samples from qualifying arrestees against the U.S. National DNA Index System (NDIS) CODIS database.
The RapidHIT ID DNA Booking System supported by a world-class network of training, service and support experts allows law enforcement agencies to conserve valuable investigative and DNA laboratory resources, minimizing criminal justice system costs and at the same time increasing public safety.
With the recent achievement, Thermo Fisher’s Human Identification business will get a significant boost. This will help the company remain committed to partnering with the criminal justice community to ensure success of booking station implementation and to maintain the standards of quality and integrity described by the forensics community.
More on RapidHIT ID DNA Booking System
The RapidHIT ID DNA Booking System is a fully automated, sample-to-answer genetic analyzer that processes DNA samples and enrolls arrestees and searches in CODIS in nearly 90 minutes. This offers actionable information to rapidly inform investigations, capture repeat offenders and exonerate the innocent, thus supporting to make communities safer.
The company also noted that the system was developed specifically with the requirements of booking stations in mind. The system works with a wide range of commonly used DNA collection swabs, enables seamless integration of DNA profiles with Live Scan terminals and other biometric information systems to align with FBI, state, and agency requirements and allows for real-time analysis of single samples.
Additionally, the embedded auditing, reporting, and training tools help maintain security and compliance with FBI guidelines.
Significance of the Approval
Per Thermo Fisher’s management, NDIS approval of the RapidHIT ID DNA Booking System is a crucial step in supporting the FBI's vision of searching CODIS while a qualifying arrestee is in police custody.
The rapid DNA analysis at the point of booking is a powerful investigative tool that can rapidly and safely link arrested individuals with other serious crimes, thus providing significant benefits to public safety. DNA processing and searching, while the suspect is in custody, considerably reduces the time to spot or eliminate a potential suspect and decreases the opportunity for reoffending or fleeing.
Industry Prospects
Human identification is widely used in forensics, paternity testing, disaster victim identification, and anthropology, with DNA analysis/profiling being a key tool.
Per a report by MARKETSANDMARKETS, the global human identification market is expected to reach $1.74 billion by 2022 from $0.92 billion in 2017, at a CAGR of 13.4%. The government initiatives focused on market players on expanding their presence, reach and technological advancement are driving the market.
Notable Developments
In June 2021, Thermo Fisher launched the new Quick to Clinic solution to help biologic drug developers accelerate preclinical development. To accelerate the journey from DNA to drug product, new and emerging biopharma companies working on early development can now leverage a better lab to clinic drug development solution.
In May 2021, Thermo Fisher entered into an alliance with the University of California, San Francisco (UCSF), to open a cell therapy cGMP manufacturing and collaboration center. Notably, the new facility will offer end-to-end solution to boost development and manufacturing of cell-based therapies.
Price Performance
Shares of the company have gained 36.5% in a year’s time compared with the industry’s growth of 23.8%.
Zacks Rank and Key Picks
Currently, the company carries a Zacks Rank #5 (Strong Sell).
A few better-ranked stocks from the broader medical space are Envista Holdings Corporation (NVST - Free Report) , BellRing Brands, Inc. (BRBR - Free Report) and Laboratory Corporation of America Holdings, or LabCorp (LH - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of Zacks #1 Rank (Strong Buy) stocks here.
Envista Holdings has an estimated long-term earnings growth rate of 26%.
BellRing Brands has an estimated long-term earnings growth rate of 22%.
LabCorp has a projected long-term earnings growth rate of 11%.