Navigation Links
CardioGenics Announces Update Regarding Status of Merck Agreement
Date:5/27/2010

MISSISSAUGA, Ontario, May 27 /PRNewswire-FirstCall/ -- CardioGenics Holdings Inc. (OTC Bulletin Board: CGNH), developer of the ultra-sensitive QL Care™ Point-Of-Care analyzer and products for the immunoassay segment of the In-Vitro Diagnostics (IVD) market, announced today a further update regarding the status of its agreement with Merck Chimie S.A.S. ("Merck Chimie"), one of the largest manufacturers and distributors of magnetic beads for the diagnostics market.

This week the Company received from Merck Chimie a second shipment of CardioGenics' proprietary silver-plated magnetic beads (the "CardioGenics Beads") encapsulated by Merck Chimie and will begin bench testing those beads this week. This shipment includes 10 different sets of the CardioGenics Beads, encapsulated by several processes by Merck Chimie. The testing process determines the chemical stability and biological compatibility of the encapsulated beads.  After completing the testing of the encapsulated beads of this shipment, the Company will review the testing results with Merck Chimie. If the parties determine that no further technical adjustments are necessary to the encapsulation process, the Company and Merck Chimie intend to finalize commercialization plans by which Merck Chimie would increase production of the final encapsulated CardioGenics Beads to commercial size lots for distribution to Merck Chimie's customers.

In the Company's prior announcement on this matter, the Company noted that, after analyzing the first shipment of the CardioGenics Beads that were encapsulated by Merck Chimie, both parties agreed that Merck Chimie would undertake certain technical adjustments to the encapsulation process to optimize performance of the CardioGenics Beads during commercialization and then deliver to the Company a second shipment of encapsulated CardioGenics Beads for further testing by the Company.

About Merck Chimie S.A.S.

Merck Chimie S.A.S. is part of the Chemicals business sector of the Merck Group. The Merck Group is a global pharmaceutical and chemical enterprise operating in 64 countries with total revenues of approximately euro 7.7 billion (2009). The Pharmaceuticals business sector comprises innovative prescription drugs as well as over-the-counter products. The Chemicals business sector offers specialty products for the electronics, printing, coatings, cosmetics, pharmaceutical and biotech industries. Merck Chimie S.A.S. includes R&D and production activities for Estapor Microspheres, which are sold all over the world, primarily to the diagnostics market.

About CardioGenics Holdings Inc.

Through its operating subsidiaries, the Company develops its Point-Of-Care analyzer and products targeting the immunoassay segment of the IVD market. It has developed the QL Care™ Analyzer, a proprietary and ultra-sensitive 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 magnetic beads (a fundamental platform component of immunoassay equipment), which improve instrument sensitivity to light. The Company's principal offices are located in Mississauga, Ontario, Canada. For more information please visit www.cardiogenics.com.

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.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. CardioGenics to be Spotlighted in Three Publications During Month of April
2. CardioGenics Announces Lock-Up Agreement with Dr. Yahia Gawad
3. CardioGenics Announces Further Update Regarding Status of Merck Agreement
4. CardioGenics Announces Completion of Cartridge Design for QL Care Analyzer
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. CardioGenics Holdings Inc. Featured in Medical Device Daily
8. CardioGenics Holdings Inc. Announces Letter to Shareholders
9. CardioGenics Holdings Inc. Provides Update on FINRA Submission Regarding Name Change
10. Xanodyne Announces Planned President & CEO Succession
11. CSL Behring Announces Completion of National Marketing Authorizations of Berinert® After MRP in 23 European Countries
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... 23, 2016 Research and Markets ... Market by Type (Organic Chemical (Sugar, Petrochemical, Glycerin), Inorganic ... Coating, Parenteral) - Global Forecast to 2021" report ... The global pharmaceutical excipients market is projected to ... of 6.1% in the forecast period 2016 to 2021. ...
(Date:6/23/2016)... 23, 2016 Research and Markets has ... 52" report to their offering. ... creates a favourable commercial environment for MedImmune to enter. The ... that will serve to drive considerable growth for effective anti-influenza ... to cap sales considerably, but development is still in its ...
(Date:6/23/2016)... 2016 Revolutionary technology includes multi-speaker ... , industry leaders in advanced audiology and hearing aid ... Opn ™, the world,s first internet connected hearing aid ... devices.      (Photo: http://photos.prnewswire.com/prnh/20160622/382240 ) ... of ,world firsts,: , TwinLink™ - the ...
Breaking Medicine Technology:
(Date:6/25/2016)... ... ... The temporary closing of Bruton Memorial Library on June 21 due to a possible lice ... overlooked aspect of head lice: the parasite’s ability to live away from a human host, ... a necessary one in the event that lice have simply gotten out of control. , ...
(Date:6/25/2016)... ... ... As a lifelong Southern Californian, Dr. Omkar Marathe earned his Bachelors in ... School of Medicine at UCLA. He trained in Internal Medicine at Scripps Green Hospital ... at the UCLA-Olive View-Cedars Sinai program where he had the opportunity to train in ...
(Date:6/25/2016)... ... June 25, 2016 , ... Conventional wisdom preaches the ... In terms of the latter, setting the bar too high can result in disappointment, ... just slow progress toward their goal. , Research from PsychTests.com reveals ...
(Date:6/24/2016)... ... June 24, 2016 , ... June 19, 2016 is World Sickle Cell Observance ... and the benefits of holistic treatments, Serenity Recovery Center of Marne, Michigan, ... Disease. , Sickle Cell Disease (SCD) is a disorder of the red blood cells, ...
(Date:6/24/2016)... MIAMI, Fla. (PRWEB) , ... June 24, 2016 , ... ... Florida Trend magazine’s 2016 Legal Elite. The attorneys chosen by their peers for this ... of Florida. , Seven Greenberg Traurig Shareholders received special honors as members of this ...
Breaking Medicine News(10 mins):