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Biomagnetics Begins Miniaturization Process for Biosensor a" Major Step Toward Commercialization

^{Published on 2011-03-15 06:05:32 - 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, and other innovative technologies, today announced it has begun the process of miniaturizing the optical biosensor platform developed in cooperation with Los Alamos National Laboratory. The Company has selected Silicon Valley-based Lathrop Engineering to assist in the finalization of the design.

"Once Lathrop has the required documentation, they will submit a budget and timeline of the engineering requirements for both the hand held and laboratory systems of the IOBS unit. This is a major step in commercializing the IOBS system."

On March 16^th three engineers from Lathrop Engineering and personnel from Biomagnetics will meet with scientists at Los Alamos National Laboratories. Biomagnetics Diagnostics believes our portable, handheld technology will substantially lower the cost and raise the detection levels of, malaria, tuberculosis, HIV/AIDS and cholera diagnosis throughout the world, potentially saving hundreds of thousands of lives each year.

aThis trip to Los Alamos will involve a complete update on our CRADA agreement, demonstration of our instrument and transfer of all design specs for the IOBS system to Lathrop Engineering,a commented Clayton Hardman, CEO of Biomagnetics. aOnce Lathrop has the required documentation, they will submit a budget and timeline of the engineering requirements for both the hand held and laboratory systems of the IOBS unit. This is a major step in commercializing the IOBS system.a

About Biomagnetics Diagnostics Corp.

Biomagnetics Diagnostics Corporation 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 ].