Biomagnetics Diagnostics Corp. (OTC:BMGP) Clayton Hardman, President of Biomagnetics Diagnostics states, “As we begin this New Year, I feel it is important to enumerate on what we have accomplished and its relevance in the diagnostics industry."
"The medical device market is a $200 billion dollar industry. We have designed and patented (two patents have been issued and a 3rd is pending) a system we call the HTS-MTP (High Throughput Screening - Magnetic Testing Platform). The (HTS-MTP) can detect ANY pathogen (viral or bacterial) using any body fluid. The test results will be qualitative (screening) as well as quantitative (confirmatory) and also provide viral load (degree of infection) results; all for the same price of an initial screening test."
"Today, the lab wholesale cost of a screening test (qualitative) ranges between $2.00 - $5.00; the confirmatory (Western Blot) test is $35 - $50; however, any positive or indeterminate result must be confirmed increasing those costs to $37 - $55. Additionally we provide viral load (quantitative) results which wholesale for $50 - $80. Our HTS-MTP will provide all these tests for approximately $2.50."
"Our HTS-MTP can also test for the virus or antibodies and give the results in minutes, not hours – days or in some cases weeks. Testing for the virus not the antibody will DRASTICALLY reduce the time a disease can be detected. The quicker individuals are diagnosed the sooner they enter the health care system increasing their chances of recovery."
"We have completed our first phase of development and expect to complete clinical trials with Lathrop Engineering, Inc. and begin commercialization of our product in the fourth quarter 2008 or first quarter 2009. Lathrop Engineering, Inc., a Silicon Valley company established in 1982 has functioned as a product engineering and development team member serving over 300 clients ranging from start-up Biotech’s to FORTUNE 500 firms.”
About Biomagnetics Diagnostics Corporation
Biomagnetics Diagnostics Corporation, a company that has designed and patented revolutionary diagnostic equipment and immunoassays, will identify market inadequacies and fill those needs with new technologies, and highly specific and sensitive assays that are qualitative (yes/no) and quantitative (viral load/degree of infection), easily performed and cost effective.
For more information please visit: www.biomagneticsbmgp.com
Forward Looking Statement:
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.