LONDON, Dec. 21, 2011 /PRNewswire/ -- Bio-AMD, Inc. ("Bio-AMD" or the "Company) (OTCBB: BIAD) today announces an update on progress on a Digital Strip Reader ("DSR"), one of the three core Point Of Care ("POC") diagnostic device technologies owned by its 63% owned subsidiary, Bio-AMD Limited.
The Company believes that DSR can be applied to semi-quantitatively read lateral flow test strips for multiple diagnostics, particularly in established pregnancy and women's wellbeing tests market, where there is a shift toward digital devices. Bio-AMD Limited is developing strategic relationships in the cardiovascular, cholesterol and infectious diseases markets where there are clear commercial and medical advantages to quick, accurate and affordable diagnosis results, without the need for laboratory intervention.
In response to discussions with potential commercial partners Bio-AMD Limited has further developed its single test DSR device to include a proprietary sensor array element. This improves sensor sensitivity, reliability and output matching. It also offers a 70% cost of manufacture saving and a wider universe of potential component suppliers, compared to previous designs. Bio-AMD Limited expects to make a patent application for this technology.
Bio-AMD Limited has also further refined its multi test DSR technology to address specific commercial needs. This now offers an up to 40% cost of manufacture saving and is more environmentally friendly, with very low power requirements, compared to previous designs. An increased number of common components in the multi test device also allow further economies of scale across multiple DSR applications. This is believed to precisely address the needs of key commercial players seeking to licence this type of technology. Bio-AMD Limited intends to make a further patent application for its multi-test cartridge/reader mechanism.
The Company is confident that Bio-AMD Limited has every
|SOURCE Bio-AMD, Inc.|
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