Bio-AMD, Inc. Patent Application for Immunoassay Result Reading Apparatus
LONDON, Dec. 28, 2012 /PRNewswire/ — Bio-AMD, Inc. is pleased to announce that Bio AMD Limited, our majority owned medical devices subsidiary (“Bio-AMD”, “We” or the “Company”) (OTCBB: BIAD.OB), (OTCQB: BIAD) has submitted a UK Intellectual Property Office patent application for an Immunoassay Result Reading Apparatus (“IRRA”).
The IRRA has been developed alongside the work on our Digital Strip Reader (“DSR”) technology platform. The Company is in commercialisation discussions regarding DSR which digitises and semi-quantifies the results of existing lateral flow tests, significantly enhancing diagnostic capability for the end user.
The Company believes that the IRRA technology can be applied to any current analogue lateral flow test strip. These types of tests are generally characterised by the appearance of a coloured line when the test is positive. However, where the substance of interest is present in relatively low concentrations (for example in the early days of pregnancy) the coloured line may not be well defined and difficult to assess, making conclusive testing difficult. The IRRA technology addresses this problem by significantly enhancing readability, reducing this uncertainty.
Lateral flow tests with optical read results are used in a variety of diagnostics (the most common being pregnancy testing) including growing areas such as infectious diseases and drugs of abuse testing.
Dr. Nasser Djennati, Managing Director of the Company’s medical devices subsidiary, commented; “The patent application for IRRA highlights the expertise of our small team, adding neatly to the growing patent portfolio we have created since our inception. We plan to make further patent applications to consolidate our technology platforms as we enter new development programs, specifically around our quantitative measurement technology, the Magnetic Particle Reader.”
About Bio-AMD, Inc.
Bio-AMD has two majority owned UK subsidiaries: Bio AMD Limited, a technology developer for medical diagnostic devices; and the WDX Organisation Ltd, the owner of the WOCUÂ®, a global currency data reference source for application in financial markets. (www.wocu.com).
To find out more about Bio-AMD (OTCBB: BIAD), visit our website at www.bioamd.com.
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CONTACT: Bio-AMD, Inc.
Tom Barr, CEO
+44 (0)8445 861 910
SOURCE Bio-AMD, Inc.
December 28, 2012 – 8:30 AM EST
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