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Biomagnetics and Los Alamos National Security, LLC Reach Major Milestone in Development in New IOBS

^{Published on 2010-10-11 06:10:31 - Market Wire}
 

SAN FRANCISCO--([ BUSINESS WIRE ])--Biomagnetics Diagnostics Corp., (PINK SHEETS:[ BMGP ]) a developer of revolutionary diagnostic systems and technology for HIV, hepatitis, tuberculosis and malaria detection, today announced the completion of a major milestone in the commercialization of the worlda™s first handheld Integrated Optical Biosensor (IOBS) for the diagnosis of diseases and detection of viral and bacterial pathogens in humans and animals. The scientific team at Los Alamos National Laboratory (LANL) has recently completed development work on a new bench top of the IOBS system. Validation of the cholera assay begins while ongoing research continues to isolate specific tuberculosis biomarkers. Upon completion of this validation studies the system will be sent to Lathrop Engineering for miniaturizing into our hand held battery operating unit.

"With the new unit at Los Alamos National Laboratory (LANL) completed we will be able to accelerate further product development toward the release of this groundbreaking technology"

aWith the new unit at Los Alamos National Laboratory (LANL) completed we will be able to accelerate further product development toward the release of this groundbreaking technology,a commented Clayton Hardman, CEO of Biomagnetics Diagnostics.

This work is the result of the recent signing of a new Cooperative Research and Development Agreement (CRADA) with Los Alamos National Security, LLC for the development for the commercialization of a waveguide-based integrated optical biosensor platform for the detection of disease causing pathogens. Biomagnetics plans to release this groundbreaking technology, initially targeting cholera and tuberculosis, into the public sector upon completion of this work.

About Biomagnetics Diagnostics Corp.

Biomagnetics Diagnostics Corporation is an advanced medical device and biotechnology company. The Company is currently developing a waveguide-based advanced integrated optical biosensor through its cooperative research and development agreement with Los Alamos National Security, LLC, which will initially be used for cholera, tuberculosis and malaria diagnosis. More information on Biomagnetics Diagnostics Corp. can be seen at [ www.biomagneticsbmgp.com ].