Bio-AMD, Inc.; United States Patent Granted for PT/INR Technology
London, England July 16, 2015; 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 announce that it has recently received formal notice of a grant of a United States Patent (“Grant”) for its Low Volume Assay Apparatus used in its point of care system for the measurement of Prothrombin Time / International Normalized Ratio (“PT/INR”).
The PT/INR test is standard for patients typically on life-long oral anticoagulation therapy, enabling the regulation of therapeutic dosage to optimise their rate of blood clotting. The market for PT/INR Point of Care (“POC”) devices is estimated by BCC Research to grow to $1.1 billion globally in 2017.
The Grant, under U.S. Patent No. US 9,046,512 B2 protects twenty one claims central to the Company’s microfluidic strip and reader technology designed to test PT/INR by a POC device.
The Company’s patent protected technology requires only a very small, “finger-stick” drop of blood, with the sample’s clotting rate analysed using a disposable microfluidic strip and hand-held device. The Company believes that its patented method of PT/INR detection will enable the efficient manufacture of reliable test strips and hand held POC readers. The test is designed to match the accuracy of “Gold Standard” laboratory tests, producing automated results within minutes in the presence of the patient, at an economic cost.
Tom Barr, CEO of Bio-AMD Inc. said: "This is a major achievement for the Company. Dr Djennati and Dr Mitchell, the main inventors behind our growing patent portfolio, are to be congratulated in producing this outstanding technology and achieving the first patent grant. I expect further patent grants in other key territories related to this unique technology in due course.”
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.
Statements in this news release that are not statements of historical fact are forward-looking statements, which are subject to certain risks and uncertainties. Forward-looking statements can often be identified by words such as "expects,” "intends,” "plans,” "may,” "could,” "should,” "anticipates,” "likely,” “believes” and words of similar import. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Actual results may differ materially from those expressed or implied by forward-looking statements due to a variety of factors that may or may not be foreseeable or within the reasonable control of the Company. Readers are cautioned not to place undue reliance on such forward-looking statements. Additional information on risks and other factors that may affect the business and financial results of the Company can be found in filings of the Company with the U.S. Securities and Exchange Commission, including without limitation the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 filed on March 30, 2015, and in Company reports filed subsequently thereto. Except as otherwise required by law, the Company disclaims any obligations or undertaking to publicly release any updates or revisions to any forward-looking statement contained in this news release to reflect any change in the Company’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
CONTACT: Bio-AMD, Inc.
Tom Barr, CEO
+44 (0)8445 861 910