Bio-AMD, Inc.; MIDS Patent Grant in People’s Republic of China
Daresbury, England March 3, 2016; Bio-AMD, Inc. and Bio-AMD Holdings Ltd., our majority owned medical devices subsidiary (together “Bio-AMD”, “We” or the “Company” OTCQB: BIAD) is pleased to confirm that it has received a Certificate of Grant of a patent in the People’s Republic of China (“PRC”) for our Magnetic Immunoassay Detection System (MIDS) technology platform.
Patent Number ZL201180025701.5 was granted by the State Intellectual Property Office of the PRC, covering our MIDS “Immunoassay Apparatus Incorporating Microfluidic Channel”.
The Company is delighted to have obtained this first territorial protection for its MIDS technology platform. The Company expects to receive further MIDS patent grants, having concurrently applied for protection in a global package of similar applications; in the U.S.A., the European Union and India. The Company believes that the PRC patent grant is indicative of the likelihood of grant in other territories, the PRC grant merely being “first past the post”.
MIDS is an early stage technology platform capable of performing a wide range of immunoassay tests with significant potential for the Point of Care sector, expected to offer quantitative results and gold standard, “laboratory accuracy”, at the patient’s bedside, over a wide range of tests. Subject to resources being available, the Company intends to start work on the production of a MIDS technology bench demonstrator this year.
About Bio-AMD, Inc.
Bio-AMD has two majority owned UK subsidiaries: Bio-AMD Limited, a technology developer for medical diagnostic devices; and WOCU Ltd, the owner of the WOCU®, a global currency data reference source for application in financial markets. (www.wocu.com).
To find out more about Bio-AMD (OTCQB: BIAD), visit our website at www.bioamd.com.
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CONTACT: Bio-AMD, Inc.
Tom Barr, CEO
+44 (0)8445 861 910