Biomagnetics Diagnostics Corp., (PINK SHEETS:BMGP) a developer of revolutionary diagnostic systems and technology for HIV, hepatitis, tuberculosis and malaria detection, today announced its accelerated timetable for delivery of the world's first handheld, integrated optical biosensor. Through joint development efforts with its world-class research laboratory and engineering partners, Biomagnetics Diagnostics now plans to deliver a fully functioning, handheld diagnostic device capable of tuberculosis and cholera detection during the summer of 2010.
“Patent License Agreement with Los Alamos National Security.”
Biomagnetics will be working directly with its research laboratory partner to develop an additional bench top prototype unit that will be used as a platform for test cartridge assay development. This bench top prototype should be completed within 90 days of signing of final development contract. Over the subsequent 90 days this prototype will be used at the research laboratory to develop the assays for both tuberculosis and cholera pathogen detection. Biomagnetics currently plans to have fully functioning tuberculosis and cholera pathogen detection capabilities available for commercial sale at the end of this 180-day period.
Over the coming weeks, Biomagnetics management and personnel from the research laboratory partner will be meeting with both the National Tuberculosis Institute and the National Malaria Research Institute units of the Health Ministry of India. The purpose of these meetings is to set up collaborations in development of the malaria specific testing assay and to organize clinical trials for both Tuberculosis and Malaria.
“We are very pleased to announce that we have made significant progress toward organizing our research, engineering and clinical trial partnerships in order to accelerate the timeframe for delivery of the world's first commercially available integrated optical biosensor,” commented Clayton Hardman, CEO of Biomagnetics Diagnostics, Corp. “We believe the availability of this type of diagnostic tool will be instrumental in significantly lowering the costs associated with malaria, tuberculosis, cholera, and HIV/AIDS detection. With this device, personnel with only minimal amounts of training will be able to screen patients in the field for a variety of diseases. Whereas currently available diagnostics technologies and techniques often take days or weeks to produce results, integrated optical biosensors used in the field will be able to deliver results of similar or superior quality in a matter of only minutes and at only a fraction of the current cost.”