Biomagnetics To Begin Engineering Phase of Biosensor Development

SAN FRANCISCO-- March 14, 2011 (BUSINESS WIRE)--Biomagnetics Diagnostics Corp., (PINK SHEETS: BMGP)a developer of revolutionary diagnostic systems and technology for HIV, hepatitis, tuberculosis and malaria detection, and other innovative technologies, today announced that on the 16th of March Lathrop Engineering, Biomagnetics and scientist with Los Alamos National Laboratory will be meeting to being the technology transfer phase Biomagnetics Diagnostics believes the availability of this portable, handheld technology will substantially lower the cost of, and substantially raise the availability of, malaria, tuberculosis, HIV/AIDS and cholera diagnosis and detection in many areas throughout the world, potentially saving hundreds of thousands of lives each year.

President of Biomagnetics Clayton Hardman states. “This trip to Los Alamos will involve a complete update on our CRADA agreement, demonstration of our instrument and technology transfer of our bench top model to Lathrope Engineers.”

Mr. Hardman continues. “Once Lathrop has the required documentation, they will be able to provide a budget and timeline of the required engineering for both the miniaturization of the IOBS unit as well as fortify our bench top model for shipping.”

 

About Biomagnetics Diagnostics Corp.

Biomagnetics Diagnostics Corporation is an advanced medical device and biotechnology company. The Company’s revolutionary diagnostic systems, which are based on advanced magnetics, test for any viral or bacterial disease using any body fluid. The Company's technology allows laboratories to perform far more tests in the same amount of time it takes to do a single test. The HTS-MTP platform is designed to detect the actual virus and viral load in body fluids and not just simply screen for the presence of viral antibodies. More information on Biomagnetics Diagnostics Corp. can be seen at www.BiomagneticsBMGP.com.

Contacts:
Paul Hardman, (916) 987-7078
Biomagnetics Diagnostics Corp.