Printer Friendly

BioMag Files Application for a Revolutionary Multi-Assay Diagnostic System Designed Specifically for Blood Banks.

ORANGEVALE, Calif. -- BioMag Corp. (OTC: BMGC) announced today that it has filed for a new patent for a revolutionary multi-assay diagnostic system designed specifically for blood banks, by turning what currently takes eight separate tests into one procedure.

After extensive research and design, including in-depth patent searches, the company made the decision to move forward and file for its third patent, "SYSTEM AND METHOD FOR DETECTING SPECIFIC BINDING REACTIONS USING MAGNETIC LABELS." Currently blood banks across the United States have to conduct eight different tests for different diseases and STDs to ensure that the donor blood is not tainted and that it meets the strict standards that of the FDA.

The specific tests currently performed are listed below:

--Hepatitis B surface antigen (HBsAg)

--Hepatitis B core antibody (anti-HBc)

--Hepatitis C virus antibody (anti-HCV)

--HIV-1 and HIV-2 antibody (anti-HIV-1 and anti-HIV-2)

--HTLV-I and HTLV-II antibody (anti-HTLV-I and anti-HTLV-II)

--Serologic test for syphilis

--Nucleic acid amplification testing (NAT) for HIV-1 and HCV

--NAT for WNV

Clayton Hardman, president and CEO of BioMag Corp., stated, "In today's marketplace most blood banks operate at a loss every year having to extrapolate eight different tests per donor that arrives at their centers. Providing a single test that can screen for all of the above listed tests, which can produce results in minutes rather than days, has the potential to immediately reverse the losses that these blood banks experience into profits."

The American Association of Blood Banks estimates that eight million volunteers donate blood each year. According to the National Blood Data Resource Center (NBDRC), about 15 million units of whole blood and red blood cells were donated in the United States in 2001.

About BioMag Corp.

BioMag Corp., through its wholly owned subsidiary, Biospectrum Technologies Inc., 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.biomagcorp.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.
COPYRIGHT 2006 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 
Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Jul 24, 2006
Words:470
Previous Article:VIASYS Healthcare Selected as Primary Ventilator Supplier to Kindred Healthcare, Inc.
Next Article:AuthorHouse(R) to Showcase at National Speakers Association Annual Convention; Author Services Company to Highlight NSA Member-Authors.
Topics:


Related Articles
STUDY USES BIOINFORMATIC SOFTWARE TO ANALYZE SERUM COMPONENTS.
GENECOR/GYROS FORM TECHNOLOGY COLLABORATION.
IGENEON AND IMMUNICON FORM DEVELOPMENT ALLIANCE.
BioMag Corporation Acquires Biospectrum Technologies, Inc., a Biomedical Company That Designs and Patents Diagnostic Equipment and Immunoassays.
BioMag Receives Second Patent on Its High Throughput Screening - Magnetic Testing Platform (HTS-MTP).
BioMag Engages Dr. Manuel Lopez-Portillo to Coordinate Clinical Trials and Subsequent Sales in Mexico.
BioMag Enters Memorandum of Understanding with Bangkok RIA Group.
BioMag Finalizes Agreement with Bangkok RIA Group to Establish Clinical Trials in Thailand.
BioMag to Pursue Clinical Trials in China.
BioMag Attending the World's Largest HIV/AIDS Conference in Toronto, Aug. 13-18.

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters