Biomagnetics Diagnostic Corp. (BMGP) is working to revolutionize the current diagnostic industry with its patented technologies.
The High Throughput Screening Magnetic Testing Platform (HTS-MTP) will be Biomagnetic’s first product to be released into the market. The HTS-MTP has been designed to detect a “target virus/bacteria” by measuring and defining a single paramagnetic microsphere attached to each virus/bacteria molecule. Rather than taking days or even hours for results of a virus presence, the HTS-MTP has the ability to detect the virus and count the viral load in minutes.
As stated above, the HTS-MTP has the ability to detect both bacterial and viral pathogens. It also has the capability to detect the presence of illicit drugs through blood, serum, saliva, urine, and spinal fluid samples. The HTS-MTP can be designed to identify the presence of countless drugs and bacterial and viral pathogens, as each will have a specific software program written to identify its unique pathogenic array.
Since the HTS-MTP has the ability to measure a load within minutes, the equipment can be utilized to assist the medical and drug industry to monitor the effectiveness of new drug formulations, vaccinations, and treatments on a real-time basis. There currently are no screening or confirmatory tests applied during treatments that have the ability to measure viral load. Having detailed measurements available would be a critical addition in the development of new drugs and vaccines.
Biomagnetics has decided that the Latin American and Asian markets will be their initial target markets for the HTS-MTP. The company has partnered with the Instituto Mexicana del Seguro Social (IMSS) to conduct clinical trials in Mexico. It has also completed due diligence on Shanghai Jing Ying Biotechnology, Ltd, to perform clinical trials in China. The company is also working with other companies to lay the groundwork for product distribution and manufacture in Thailand, China, and India.
Once the clinical trials in Latin America and Asia are complete, the company will market its HTS-MTP system in the United States, Sweden, China, Mexico, Thailand, and India. The company anticipates a commercial launch in the first quarter of 2009.
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