Biomagnetics’ Updates on Commercialization of the IOBS Unit
29 Mars 2011 - 3:00PM
Business Wire
Biomagnetics Diagnostics Corp., (PINK SHEETS:BMGP) a developer
of revolutionary diagnostic systems and technology for HIV,
hepatitis, tuberculosis, cholera and malaria detection, and other
innovative technologies, today announced further details in next
steps to be taken toward full commercialization of the Company’s
flagship Integrated Optical Biosensor (IOBS) diagnostic system.
Biomagnetics is currently in collaboration with Los Alamos National
Laboratory to develop the world’s first integrated optical
biosensor in a portable, handheld technology format designed to
substantially lower unit costs and raise the detection levels of
some of the world’s most prevalent diseases.
Clayton Hardman, CEO of Biomagnetics Diagnostics Corp. stated,
“We can now confirm that we are in the preliminary phase of design
engineering as we work toward actual commercialization of the IOBS,
a significant goal that represents the culmination of our efforts
over the past year. After conferring with our design partner,
Lathrope Engineering, we will be taking a twofold approach to best
reach sales as soon as possible.” Mr. Hardman continued,
“Specifically, we will “ruggedize” the design of our bench top
model for shipment and laboratory use, while concurrently
miniaturizing the IOBS technology to fit within an easy-to-use hand
held unit. We expect to receive a budget and schedule outlining the
time-frame-to-completion for this project from Lathrope Engineering
in the next two weeks.”
About Biomagnetics Diagnostics Corp.
Biomagnetics Diagnostics Corporation is an advanced medical
device and biotechnology company and an acquirer of other
innovative technologies. The Company’s revolutionary diagnostic
systems, which are based on advanced waveguide and magnetics
technologies, test for any virtually viral or bacterial disease.
The Company's technology allows laboratories to perform far more
tests in the same amount of time it takes to otherwise 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. Additionally, the Company is
currently developing a waveguide-based advanced integrated optical
biosensor through its cooperative research and development
agreement with Los Alamos National Security, LLC, which will
initially be used for cholera, tuberculosis and malaria diagnosis.
More information on Biomagnetics Diagnostics Corp. can be seen at
www.Biomagneticsbmgp.com
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