Press Release: Biomagnetics and Los Alamos National Security, LLC Sign Cooperative Research and Development Agreement

SAN FRANCISCO-- June 30, 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 signing of a new Cooperative Research and Development Agreement (CRADA) with Los Alamos National Security, LLC for the development of a waveguide-based integrated optical biosensor platform for the detection of disease causing pathogens. Biomagnetics plans to release this groundbreaking technology, initially targeting cholera and tuberculosis, into the public sector upon completion of this work.

The agreement calls for the scientific and engineering staffs at Los Alamos to produce a duplicate of the existing bench-top biosensor platform (currently being used for research), optimize and test the existing cholera assay, train Biomagnetics’ scientific staff, provide guidance to Biomagnetics to identify a list of potential sources from which to obtain human cholera samples, and to provide guidance on how to properly utilize the cholera test assays on human samples.

“This new agreement expands our original agreement with Los Alamos National Security, LLC that was signed near the end of 2009, that provides us with some of the most technologically advanced biosensor technology in existence,” commented Clayton Hardman, CEO of Biomagnetics Diagnostics. “Integrated optical biosensors are a relatively new classification of pathogen detection equipment that use advanced wave-guide technology to detect a wide variety of human and animal pathogens, holding the promise of lowering the cost and increasing the availability of diagnosis.”

Mr. Hardman, continued, “These devices are specifically designed to be field deployable and ultraportable, allowing for the rapid detection of various viral and bacterial pathogens by relatively un-trained personnel outside the laboratory setting at a fraction of the cost of traditional diagnostic technologies. We believe these devices hold the potential to revolutionize disease detection and diagnosis and save millions of lives. We are clearly honored to be working with the very prestigious and highly qualified scientific staff at Los Alamos National Security, LLC.”

 

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.