Iris Biotechnologies receives two new Canadian patents

Iris BioTechnologies Inc. (OTCBB:IRSB), a life sciences company focused on providing patients, doctors, and clinicians with improved methods of identifying effective treatment solutions, and recipient of the Frost and Sullivan 2008 Technology Innovation Award in Pharmacogenomics, today announced two new Canadian patents. This brings the company's total patent portfolio to four Canadian patents, four U.S. patents, and numerous other patents in the European Union, Asia, Australia and New Zealand.

“Over the past year, we have designed and built a patent-protected, advanced chip-making system which positions Iris in the forefront of personalized medicine. These patents protect our technologies improving our outlook for product, service, and licensing revenue streams going forward.”

"This is an exciting time for Iris BioTechnologies as we continue building our valuable portfolio of intellectual property not only in the United States but around the world," said CEO Simon Chin. "Over the past year, we have designed and built a patent-protected, advanced chip-making system which positions Iris in the forefront of personalized medicine. These patents protect our technologies improving our outlook for product, service, and licensing revenue streams going forward."

One of these two patents protects Iris's Nano-Biochip^TM enabling the use of probes with superior binding affinity and specificity to be incorporated into the technology platform. The second patent on the company's BioWindows^TM Informatics System enables a more effective diagnosis and targeted treatment for breast cancer, colon cancer, neurological disorders, heart disease, diabetes and gene-related metabolic problems. Data provided by the company's Nano-Biochip^TM, along with the patient's medical history, family medical history, life dynamic factors, and environmental exposures, are stored and analyzed by BioWindows^TM to help clinicians choose the most personalized protocol for their patients.

According to PricewaterhouseCoopers LLP, the annual market for diagnostic tests and drugs tailored to individuals was expected to total $24 billion last year and grow 10 percent annually, reaching $42 billion by 2015.

Source: Iris BioTechnologies Inc.