LONDON, May 8, 2012 /PRNewswire/ -- Bio-AMD, Inc. is pleased to announce that Bio AMD Limited, our majority owned medical devices subsidiary ("Bio-AMD", "We" or the "Company" OTCBB: BIAD.OB, OTCQB: BIAD) has submitted a UK Intellectual Property Office patent application for a replaceable Cartridge Test Cap ("Cap") component used in its Digital Strip Reader ("DSR") device.
Competitive devices, particularly in pregnancy and ovulation testing applications, typically require a sample to be applied to a test strip unit prior to insertion into a disposable battery powered digital reader. This method can introduce contamination errors inaccuracies and false positives due to delay in reading the activated test strip, and generates battery life and recycling issues.
Bio-AMD's Cap is a replaceable, disposable unit. The Cap comprises a cartridge mounted test strip with an interlocked test strip cover that can only be removed after the Cap is engaged with the DSR. Engagement of the Cap automatically powers up the DSR and allows removal of the Cap cover. This permits a sample to be immediately read without any further procedural step, minimising contamination potential and false positives. Numerous disposable Caps can be read by a single solar powered DSR device, reducing test costs and eliminating battery shelf-life and disposal problems.
The DSR technology is a patented method of reading and quantifying traditional chromatography based, lateral-flow immunoassays including pregnancy and fertility testing, cardiac markers, infectious diseases and drug testing. Compared to existing analog tests DSR offers increased sensitivity and semi-quantitative measurement, allowing earlier diagnostic testing with improved accuracy.
The DSR hand-held reader device incorporates portability, scalability and repeatability with low manufacturing costs. Our technology also runs on photo-electric power, avoiding the need for chemical batteries and the disposal issues arising from them.
About Bio-AMD, Inc.
Bio-AMD has two majority owned UK subsidiaries: Bio AMD Limited, a technology developer for medical diagnostic devices; and the WDX Organisation Ltd, the owner of the WOCU®, a global currency data reference source for application in financial markets. (www.wocu.com).
To find out more about Bio-AMD (OTCBB: BIAD), visit our website at www.bioamd.com.
Statements in this news release that are not statements of historical fact are forward-looking statements, which are subject to certain risks and uncertainties. Forward-looking statements can often be identified by words such as "expects," "intends," "plans," "may," "could," "should," "anticipates," "likely," "believes" and words of similar import. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Actual results may differ materially from those expressed or implied by forward-looking statements due to a variety of factors that may or may not be foreseeable or within the reasonable control of the Company. Readers are cautioned not to place undue reliance on such forward-looking statements. Additional information on risks and other factors that may affect the business and financial results of the Company can be found in filings of the Company with the U.S. Securities and Exchange Commission, including without limitation under the caption "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2011 filed on March 29, 2012. Except as otherwise required by law, the Company disclaims any obligations or undertaking to publicly release any updates or revisions to any forward-looking statement contained in this news release to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
Tom Barr, CEO
+44 (0)8445 861 910
|SOURCE Bio-AMD, Inc.|
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