Navigation Links
CardioGenics Announces Further Update Regarding Status of Merck Agreement
Date:3/10/2010

MISSISSAUGA, Ontario, March 10 /PRNewswire-FirstCall/ -- CardioGenics Holdings Inc. (OTC Bulletin Board: CGNH), a developer of technology and products targeting the IVD segment of the Point-Of-Care (POC) diagnostic market, announced today a further update regarding the status of its agreement with Merck Chimie s.a.s. ("Merck Chimie").

As mentioned in the Company's prior announcement and Current Report on Form 8-K filed on November 24, 2009, Merck Chimie completed their encapsulation of a "test batch" of CardioGenics' proprietary paramagnetic beads (the "CardioGenics Beads") and targeted December 2009 for delivery of the CardioGenics Beads to the Company for "bench testing" to determine adherence of the encapsulated beads to specifications established jointly by Merck Chimie and CardioGenics for the commercial product. In December 2009, the Company received the encapsulated "test batch" of the CardioGenics Beads from Merck Chimie and performed the necessary bench testing.

After analyzing the bench test results, the Company reported its findings to Merck Chimie and both parties agreed that Merck Chimie would undertake technical adjustments to the encapsulation process to meet the specifications. Consistent with the Company's recommendation, Merck Chimie will now encapsulate a second "test batch" of the CardioGenics Beads, incorporating such technical adjustments, and deliver the second "test batch" of the encapsulated CardioGenics Beads to the Company for what the parties anticipate will be the final bench test.

The Company expects to receive the second "test batch" of the encapsulated CardioGenics Beads from Merck Chimie during May, 2010. The Company will shortly thereafter perform its second bench test with those beads and anticipates meeting with Merck Chimie also during May, 2010 to discuss the bench test results and Merck Chimie's efforts for "scaling-up" production of the final encapsulated CardioGenics Beads for commercialization.

While being extremely close to satisfying the jointly developed specification for the commercial product, the Company nevertheless felt that some additional minor technical adjustments were necessary in the encapsulation process in order to optimize performance of the CardioGenics Beads during commercial use.

Dr. Yahia Gawad Chief Executive Officer of CardioGenics Holdings Inc., stated, "We are extremely satisfied with the efforts of Merck Chimie and the talent of their team who are working with our team to commercialize a superior product to meet market needs."

About CardioGenics Holdings Inc.

Through its CardioGenics subsidiaries, the Company develops technology and products targeting the immunoassay segment of the In-Vitro Diagnostic testing market. It has developed the QL Care Analyzer, a proprietary Point Of Care immuno-analyzer, which will run a number of diagnostic tests under development, the first of which will be a series of cardiovascular diagnostic tests. As part of its core proprietary technology, the Company has also developed a proprietary method for silver coating paramagnetic microspheres (a fundamental platform component of immunoassay equipment), which improve instrument sensitivity to light. The Company's principal offices are located in Mississauga, Ontario, Canada.

Safe Harbor Statement - Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995 and may contain forward-looking statements, with words such as "Anticipate, "believe," "expect," "future," "may," "will," "should," "plan," "projected," "intend," and similar expressions to identify forward-looking statements. These statements are based on the Company's beliefs and the assumptions it made using information currently available to it. Because these statements reflect the Company's current views concerning future events, these statements involve risks, uncertainties and assumptions. The actual results could differ materially from the results discussed in the forward-looking statements. In any event, undue reliance should not be placed on any forward-looking statements, which apply only as of the date of this press release. Accordingly, reference should be made to the Company's periodic filings with the Securities and Exchange Commission.

SOURCE CardioGenics Holdings Inc.

Back to top
'/>"/>
SOURCE CardioGenics Holdings Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. CardioGenics Holdings Inc. Provides Update on FINRA Submission Regarding Name Change
2. CardioGenics Holdings Inc. Announces Letter to Shareholders
3. CardioGenics Announces Completion of Cartridge Design for QL Care Analyzer
4. CardioGenics Holdings Inc. Featured in Medical Device Daily
5. Dr. Yahia Gawad, CEO of CardioGenics Holdings, Inc., Interviewed in MedTech Executive
6. CardioGenics Provides Update on Agreement with Merck Chimie for Its Silver Coated Paramagnetic Beads
7. Dendreon Announces Publication of Phase 1 Study Highlighting Immunologic and Clinical Activity of Lapuleucel-T (Neuvenge(R)) in Advanced Breast Cancer Patients
8. EDAP Announces Launch of Clinical Study Combining HIFU and Chemotherapy for Localized Aggressive High Risk Prostate Cancer
9. Cephalon Announces Positive Results from a Pivotal Study of FENTORA in Opioid-tolerant Patients with Non-cancer Breakthrough Pain
10. ADVENTRX Announces Fast Track Designation Granted By the FDA For CoFactor For the Treatment of Metastatic Colorectal Cancer
11. DOV Pharmaceutical, Inc. Announces Successful Phase Ib Results for DOV 21,947
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/12/2016)... 12, 2016 /PRNewswire/ - Demers Ambulances announces its first delivery in ... Okaloosa County Emergency Medical Services (EMS) consisting ... one LT2 van. Quality Emergency Vehicles in Lecanto, ... the sale.  This is the latest in Demers, ongoing expansion ... President at Demers. --> Benoit LaFortune , Executive ...
(Date:2/12/2016)... , Feb. 12, 2016   HeartWare International, ... conference call and webcast to discuss its financial results ... 2015, on Thursday, February 25, 2016 at 8:00 a.m. ... prior to the conference call and webcast.  On the ... financial results, highlights from the fourth quarter and business ...
(Date:2/12/2016)... ALISO VIEJO , Kalifornien, 12. Februar 2016 ... es mit der Aufnahme von Patienten für eine ... Embolisation von Aneurysmen („WEB") speziell für die Behandlung ... Laurent Spelle , MD, Leiter der Neuroradiologie an ... , Frankreich, und Hauptprüfarzt der CLARYS-Studie hat den ...
Breaking Medicine Technology:
(Date:2/12/2016)... (PRWEB) , ... February 12, 2016 , ... CDRH Enforcement Trends: , Back to the ... , As Winston Churchill said, “Those who don’t learn from history are ... what to expect when they come knocking this year. But that takes time. , ...
(Date:2/12/2016)... ... February 12, 2016 , ... Each year, the American Physical ... in Anaheim, CA at the Anaheim Convention Center. Almost 10,000 physical therapists across the ... products in action, learn more about their chosen field and network with their colleagues. ...
(Date:2/12/2016)... CULVER CITY, California (PRWEB) , ... February 12, 2016 , ... ... to announce their participation in Red Carpet Events LA GRAMMY’s Style Lounge Event. Coco ... and healthy way to stay hydrated before the big event. The invitation-only gifting suite, ...
(Date:2/12/2016)... ... February 12, 2016 , ... The ThedaCare ... San Francisco General Hospital on April 5-7. The series is a multi-day, multi-workshop ... habits. The workshops cover a broad range of topics, including coaching skills, the ...
(Date:2/12/2016)... ... 12, 2016 , ... Every winter, someone is killed, injured or loses a ... Burn Center, part of the Allegheny Health Network, has partnered with Etna Volunteer ... Heaters Need Space” campaign. , “Space Heaters Need Space” aims to bring ...
Breaking Medicine News(10 mins):