Flex Fuels Energy, Inc., COAG Proof of Concept Success
LONDON, Apr 14, 2011 (MARKETWIRE via COMTEX News Network) —
Flex Fuels Energy, Inc. (“Flex” or the “Company”) (OTCBB: FXFL) announces a development milestone at its 63% owned subsidiary, BioAMD Holdings Limited (“Bio-AMD”).
Bio-AMD is targeting its medical diagnostic device technologies at the fast growing Point of Care market.
COAG blood coagulation monitor — Proof of Concept Success
Bio-AMD is pleased to announce that the novel magnetic drive system and detection method integral to its planned handheld COAG monitor has passed proof of concept testing.
Patients with cardiac problems are often medicated with life-long oral anticoagulation therapy, commonly Warfarin. COAG is designed to address the largely unmet need for cost-effective, convenient and frequent monitoring of blood coagulation rate (Prothrombin Time, “PT” or International Normalized Ratio, “INR”) so that a patient may potentially self regulate doses of anticoagulation medication.
Bio-AMD’s COAG technology applies a combined magnetic drive system, double optical and magnetic detection techniques and a unique micro-fluidic strip design which requires minimal blood sample volumes.
The COAG technology has performed to design, testing having been carried out with reagent, demonstrating viability and validating the novel aspects of Bio-AMD’s COAG patent claims.
Dr Nasser Djennati, Managing Director of Bio-AMD, commented, “This is a very significant milestone in the development of our COAG device. Current testing methods are generally inconvenient, expensive, and require larger blood volumes. By this benchmark we can confidently progress toward a production ready prototype to address the need for cheaper, improved testing in this large market.”
Bio-AMD’s product lines in advanced development include a patented universal digital strip reader (“DSR”) capable of reading a variety of lateral flow strips to detect differing conditions. The DSR platform technology is a method for reading and semi-quantifying traditional chromatography based lateral-flow immunoassay tests to provide an indication of the presence and / or concentration of a substance tested in a sample. DSR is based on a unique triple optical sensor arrangement, offering an improved, simplified, fully disposable and cost effective disposable reader.
Dr Nasser Djennati, Managing Director of Bio-AMD, added, “We are pursuing a commercialisation strategy to obtain the optimum mix of partners, resourcing and financing to take each of our product lines to market. We anticipate announcing further milestone achievements for our product pipeline during 2011.”
More information and contact details for Bio-AMD can be obtained at www.bioamd.com
About Flex Fuels Energy, Inc.
Flex has two majority owned UK subsidiaries: Bio-AMD (www.bioamd.com), a technology developer for medical diagnostic devices; and the WDX Organisation 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 Flex Fuels Energy (OTCBB: FXFL), visit our website at www.flexgp.com.
Forward-Looking Statements
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CONTACT: Flex Fuels Energy, Inc. Tom Barr CEO +44 (0)8445 861 910
SOURCE: Flex Fuels Energy, Inc.
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