Press Release: Source Los Alamos National Laboratory
Biomagnetics Receives Commitment for Malaria and Tuberculosis Diagnosis Clinical Validation Testing in India Using World's First Integrated Optical Biosensor
SAN FRANCISCO-- April 19, 2010 (BUSINESS WIRE)--Biomagnetics Diagnostics Corp., (PINK SHEETS: BMGP - News) a developer of revolutionary diagnostic systems and technology for HIV, hepatitis, tuberculosis and malaria detection, today announced it has received important commitments from two leading research laboratories in India for clinical validation testing for malaria and tuberculosis (TB) detection and diagnosis.
During a recent trip to India, Company personnel secured a commitment from the National Institute of Malaria Research, an autonomous department of the Health Ministry of India for validation of the Company’s malaria test assay to be used in conjunction with the Company’s Integrated Optical Biosensor (IOBS) platform that will be launched later this year. Additionally, Biomagnetics Diagnostics, Corp. has also received a commitment from the National Hospital & Medical Research Center, a nonprofit foundation for the Hinduja Group of Mumbai, India. The research center has agreed to perform validation testing of the IBOS platform for human tuberculosis diagnosis.
Successful completion of this validation testing will allow Biomagnetics Diagnostics to market this revolutionary, low-cost handheld diagnostic tool throughout India without additional clinical testing being required for both malaria and tuberculosis detection and diagnosis.
"We are very excited about these developments as the National Institute of Malaria Research in India is on the forefront of diagnostic research within this field of study. Additionally, the Hinduja Group is a leader in the field of tuberculosis research. Completion of the testing will not only allow us to sell the product throughout India, but will also lend additional credibility to our overall story enabling us to accelerate sales relating to malaria diagnostics in other countries, commented, Clayton Hardman, CEO of Biomagnetics Diagnostics, Corp. “We believe the validation testing will be an important step to the overall commercialization of this life-saving technology and will allow us to forgo additional validation testing in many countries around the world."
The Company recently announced it had 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. 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.
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.
Joe Noel, 925-922-2560
Biomagnetics Diagnostics Corp.