Biomagnetics Diagnostics Corp., (PINK SHEETS: BMGP) a developer of
revolutionary diagnostic systems and technology for HIV, hepatitis,
tuberculosis, and malaria detection, today announced it has submitted an
application to the Bill & Melinda Gates Foundation for a grant to
further develop the Integrate Optical Biosensor Sensor (IOBS) technology
it is plans to bring to market. The topic for the Grand Challenge Grant
is Low Cost Diagnostics for Global Priory Health Conditions, which
includes both malaria and tuberculosis.
“The availability of low cost diagnostics for malaria and tuberculosis
are major concerns for not only health care professions, but also for
the Gates Foundation. The technology we plan to introduce reduces the
cost of traditional malaria testing by up to two-thirds,” commented
Clayton Hardman, CEO of Biomagnetics Diagnostics. “The IOBS platform
produces test results measured in only minutes, whereas traditional
methodologies often take many days. Additionally, the handheld IOBS
platform can be utilized in the field at point of care by relatively
untrained personnel. We believe the IOBS platform holds the promise to
revolutionize testing for not only malaria, but also for many other
diseases including tuberculosis and HIV/AIDS. We believe the Gates
Foundation had a device such as IOBS in mind when it devised the
specifications for the Challenge Grant.”
According to the World Health Organization, some 3.2 billion people, or
about half the world's population is at risk of malaria transmission in
107 countries and territories worldwide. While there are between 350
million and 500 million new cases of malaria each year, there are very
few reliable and field deployable diagnostic tools available. In the
case of malaria, early detection substantially improves treatability and
survivability. Field deployable Integrated Optical Biosensor Systems
(IBOS), such those Biomagnetics Diagnostics is planning to soon
introduce hold the promise to significantly speed the diagnostic testing
process and to meaningfully lower costs and improve lives.
About Biomagnetics Diagnostics Corp.
Biomagnetics Diagnostics Corporation is an advanced medical device and
biotechnology company. The Company’s revolutionary diagnostic systems,
which are based on advanced magnetics, test for any viral or bacterial
disease using any body fluid. The Company's technology allows
laboratories to perform far more tests in the same amount of time it
takes to do a single test. The HTS-MTP platform is designed to detect
the actual virus and viral load in body fluids and not just simply
screen for the presence of viral antibodies. More information on
Biomagnetics Diagnostics Corp. can be seen at www.BiomagneticsBMGP.com.
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