Press Release: Source Biomagnetics Diagnostics Corporation

Biomagnetics Diagnostics Enhances Intellectual Property Package from Los Alamos National Security Targeting Multi-Test Blood Bank Screening Biosensor Thursday Dec 03, 01:58 pm ET

SAN FRANCISCO--(BUSINESS WIRE)--Biomagnetics Diagnostics Corp. (PINK SHEETS:BMGP), a developer of revolutionary diagnostic systems and technology for HIV, hepatitis, tuberculosis and malaria detection today announced it has acquired additional intellectual property rights from Los Alamos National Security. The Company intends to utilize this intellectual property for the development of a revolutionary integrated optical biosensor capable of screening blood donors for HIV/AIDS, hepatitis and tuberculosis in a single test at the point of collection.

The technology, originally developed at Los Alamos National Laboratory is for the “Quantitative Multiplex Detection of Pathogen Biomarkers” and is protected through a U.S. patent application filed in October 2009. When utilized with the Integrated Optical Biosensor System (IBOS) licensed by the Company from Los Alamos National Security, this technology is capable of detecting multiple pathogens from a single blood sample. Importantly, Biomagnetics Diagnostics plans to integrate these technologies into a handheld blood diagnostic device that can be utilized by relatively unskilled personnel to screen potential blood donors for various pathogens at the point of collection.

The call, which will be open to all investors, will be held on Thursday, December 3rd at 4:30 EST. Interested parties may dial into the Biomagnetics Diagnostics Corp. conference call using the toll free dial-in number (US & Canada) of (877) 274-7449 or the local/international dial-in number of (763) 488-8345. The conference ID number to access the call is 45166038. (The call, previously scheduled for today, Wednesday December 2nd, was rescheduled for tomorrow, Thursday December 3rd, when an apparent attempt by National Public Radio (NPR) to cover and record the Biomagnetics Diagnostics Corp. conference call caused technical difficulties.)

The Company recently announced on November 30th that it has finalized a “Patent License Agreement with Los Alamos National Security.” Under the agreement, Biomagnetics will have access to the Triggered Optical Biosensor and Integrated Optical Biosensor System (IBOS) technology developed at Los Alamos National Laboratory.

About BioMag Corporation

Biomag Corporation, through its wholly owned subsidiary, Biospectrum Technologies, Inc., a company that has designed and patented revolutionary diagnostic equipment and immunoassays, will identify market inadequacies and fill those needs with new technologies and highly specific and sensitive assays that are qualitative, (yes/no) and quantitative (viral load/degree of infection), easily performed and cost effective.

Contact: Biomagnetics Diagnostics, Corp
Joe Noel, 925-922-2560