Binax was founded in 1986 by Roger Piasio and Myron Hamer with a vision of developing a diagnostic company that is dedicated to providing the tools for health care providers to accurately assess patients' diseases at point-of-care facilities and improve global health. With a background in industrial science at Becton Dickinson and Corning Glass Works, and prior to founding Binax, Roger Piasio was one of the co-founders of Ventrex, one of Maine's first biotechnology companies.

Binax's mission is to develop fundamentally new diagnostic tools that facilitate pathogen identification, thereby allowing targeted treatment for infectious diseases and promoting better patient management.

In 1990, commensurate with the development of the Company's ICT NOW^® platform and the launch of its first test, the Binax NOW Strep A Test, the Company recognized that rapid diagnostic testing could have a great impact on curbing the ever-increasing spread of antibiotic resistant bacteria. Since then, the Company has systematically introduced the medical and scientific communities to the reality of identifying the etiology of pneumonia through the use of the NOW Legionella Urinary Antigen Tests and NOW Streptococcus pneumoniae Antigen Tests.

The rapid ICT platform, combined with Binax's demonstrated reagent technologies, inherently allows for a paradigm shift in function and delivery of diagnostic devices. The platform allows for accurate, reliable tests that can be performed at any location – the laboratory, clinic, bedside, or in the field. The World Health Organization (WHO), as well as physicians and scientists, see the value of rapid diagnostic testing for pathogen identification, as evidenced by our clinical involvement with researchers around the world in the areas of pneumonia, otitis media, chronic obstructive pulmonary disorder and tuberculosis.

Binax currently focuses on tests that identify the causative pathogen of respiratory tract infections. Because clinicians are able to rapidly assess whether a disease is of viral or bacterial origin, proper use of antibiotic therapy can be implemented. Not only do accurate, rapid diagnostics empower health care providers to tailor an appropriate treatment plan, the resultant decrease in the inappropriate use of antibiotics has been shown to slow the spread of antibiotic resistant bacteria.

Binax is at the forefront of technological advancements in the rapid diagnostic test market. We have a portfolio of patents and patent applications that position us as a leader in the market. Our core business is antigen-based diagnostic tests for rapid detection of causative pathogens of infectious diseases utilizing innovative technology.

In 1986, the Binax NOW Strep A Test received FDA clearance. In 1994, the world's first Legionella ELISA test was introduced to detect the causative pathogen of Legionnaires' Disease. In 1997, our NOW Strep A test was CLIA Waived, granting access to physicians' office laboratories. Other milestones in 1998 and 1999 included FDA clearance of two urinary antigen tests, NOW Streptococcus pneumoniae Antigen Test, for the detection of the most common cause of bacterial pneumonia, and NOW Legionella Urinary Antigen Test.

In 2000, Binax acquired the ICT division of Australian-based AMRAD, expanding the NOW product line to include NOW Malaria Test and the NOW Filariasis Test. The following year, we received FDA clearance of the NOW RSV Test, and FDA clearance for the expanded use of the NOW Streptococcus pneumoniae Antigen Test with cerebrospinal fluid (CSF) to detect pneumococcal meningitis.

In 2002, NOW Flu A and NOW Flu B received FDA clearance. In 2003, these tests in addition to the NOW RSV Test, received CLIA Waived status for use in physician office laboratories.

In 2004, Binax received FDA clearance for the BinaxNOW^® Influenza A & B Test. This test allows for the differentiation of influenza A and influenza B virus on a single test device. Later that year, Binax also recieved CLIA Waived status for the BinaxNOW Influenza A & B Test which allowed for its use in physician office laboratories.