Press Release: Biomagnetics Presents First Handheld Optical Biosensor for Malaria, TB and HIV/AIDS Diagnostics in New Video Series

SAN FRANCISCO-- May 24, 2010 (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 the availability of a new series of video taped interviews of CEO, Clayton Hardman where he presents the world's first handheld Integrated Optical Biosensor (IOBS), which was recently licensed under an agreement with Los Alamos National Security LLC.

In the first video, Mr. Hardman introduces the Company and the IOBS unit that was recently obtained from Los Alamos. In the second video, he provides a demonstration of how the device can be used in the field by relatively untrained personnel to test patients for malaria, tuberculosis and for many other diseases. Additionally, Mr. Hardman demonstrates the unit’s additional operations and explains the significant clinical advantages and meaningful cost saving benefits inherent to this revolutionary diagnostics technology.

"Having recently received the unit from the scientific staff at Los Alamos we wanted to explain how the unit operates and how we plan to market the technology to the marketplace. We decided that a series of videotaped interviews would be the method best to communicate this message, commented Clayton Hardman, Chief Executive Officer. “We believe this technology holds the promise to rewrite the methodologies for pathogen detection. With IOBS, relatively untrained personnel can be utilized to quickly, easily and most importantly, very inexpensively, diagnose a variety of medical conditions, in the field, without the use of additional and expensive laboratory equipment."

While Biomagnetics Diagnostics will be targeting tuberculosis and cholera detection in its first release, which is due for release later this year, and malaria diagnosis, which is slated for release toward the end of the year, the Company will not be limiting its product releases to only these diseases. With the flexibility of the underlying technology Biomagnetics will be able to adapt the IOBS to detect almost any pathogen in human or animal blood or other body fluids.

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 (IOBS) 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.

Contacts:
Joe Noel, 925-922-2560
Biomagnetics Diagnostics Corp.