QuantRx Biomedical completes clinical testing of Q-Reader thyroid testing system

QuantRx® Biomedical Corporation (OTCBB: QTXB), a broad-based diagnostic company focused on the development and commercialization of innovative diagnostic products, today announced that it has completed clinical testing of the Q-Reader™ thyroid testing system. QuantRx Biomedical Corporation is pleased to be at this regulatory stage, which follows the completion of studies showing that the innovative Q-Reader thyroid testing system is capable of providing healthcare practitioners with laboratory level quantitative results within minutes, rather than waiting for results to be returned from a commercial laboratory.

“The global in vitro diagnostics market has shown a consistent growth of 6.72 percent annually, a trend that is expected to continue until 2012. Point-of-Care (POC), the largest segment, is estimated to grow into an $18 billion market by 2012.”

"We are very excited about meeting this critical milestone," stated Walter Witoshkin, QuantRx Chief Executive Officer. "With the successful completion of our studies we believe we have made a significant step forward for the first of many planned diagnostic tests which are intended to provide rapid, low cost, quantitative results. The ability to introduce our proprietary technology, which will allow the healthcare professional to run in-clinic assays that had only been available from a commercial laboratory before, will be the basis of our market growth in both human and veterinary diagnostics."

The QN Diagnostics (QND) Q-Reader is a stand-alone instrument with a liquid crystal display (LCD) touch screen located on the top of the unit, and an integrated software analysis capability. Using QND's proprietary analysis software, the unit uses stored calibration data provided with each QND Assay Kit and an analyte concentration based upon the analyte-specific calibration curve to display a quantifiable reading to the healthcare practitioner on the LCD screen.

Proprietary QND Assays are housed within a plastic cassette, which contains a QND-lateral flow Assay Strip. The test system is intended for use at the point of care and to eliminate the need for samples to be taken from the patient and shipped with related documentation to an external laboratory, saving the time needed to return the test results to the health care practitioner.

According to Frost & Sullivan Senior Consultant, "The global in vitro diagnostics market has shown a consistent growth of 6.72 percent annually, a trend that is expected to continue until 2012. Point-of-Care (POC), the largest segment, is estimated to grow into an $18 billion market by 2012."

At present, large commercial laboratories dominate this market, but that will change as more innovative technologies enter the arena. While the standard infrastructure clearly defines the limitations between the healthcare practitioner and the laboratory personnel, rapid POC technology, such as the Q-Reader system, will soon blur these lines. POC rapid testing offering the potential for process simplification as well as the other factors, are poised to penetrate the diagnostics market aimed at the full spectrum of opportunities.

SOURCE QuantRx Biomedical Corporation