MISSISSAUGA, Ontario, June 21 /PRNewswire-FirstCall/ -- CardioGenics Holdings Inc. (OTC Bulletin Board: CGNH), developer of the ultra-sensitive QL Care™ Point-Of-Care (POC) analyzer and products for the immunoassay segment of the In-Vitro Diagnostics market, announced the selection of four sites for clinical testing of its patented QL Care™ Analyzer, a portable diagnostic platform designed to produce test results with central lab-like accuracy in 15 minutes using whole blood.
The QL Care™ Analyzer will be tested utilizing CardioGenics' Troponin-I test, the first in a series of four cardiovascular tests to be offered for use with the QL Care™ Analyzer. Troponin-I, a protein marker released into the blood by dying heart tissue, definitively confirms that a heart attack is in progress.
The four selected sites – two are in the US and two are in Canada -- are active hospital emergency rooms that routinely admit patients presenting with chest pains. Blood samples will be drawn from approximately 50 patients at each site. One portion of each sample will be run on the hospital's central lab analyzer and the other on a CardioGenics QL Care™ Analyzer installed at the site.
The results will be compared. The goal is to confirm that the results from the CardioGenics QL Care™ Analyzers and the central lab systems are the same. The head-to-head confirmation tests will commence during Q3, upon approval of the Institutional Review Boards, and take approximately 45 days to complete.
Upon successful completion of clinical confirmation, the Company will then finalize protocols and commence trials for the FDA application for approval of its POC analyzer and Troponin-I test. The testing is expected to start during early Q4 2010 and complete two months later.
These results, if successful, will be filed with the U.S. Food and Drug Administration ("FDA") as part of a 510-K submission seeking approval to market the QL Care™ Analyzer and the Company's first cardiovascular test, Troponin-I. Based on FDA statistics for FY 2008, 510-K applications receive a final FDA decision in an average of 109 days from the date of submission.
The capability of the CardioGenics QL Care™ Analyzer to generate accurate Troponin test results in 15 minutes (vs. an average of 2.8 hours required for central labs machines) is expected to play a central role in emergency rooms where it holds the potential to significantly decrease the time required to triage chest pain patients -- accelerating treatment to the 15 percent of the patients who actually are having a heart attack, while avoiding unnecessary treatments for the 85 percent who aren't.
Troponin testing, which is standard protocol in the U.S. for anyone presenting with chest pains, is an estimated $650 million test reagent market, predominantly served by tests performed in large central hospital labs.
The Company expects to enter into distribution agreements, in the U.S. and abroad, for the sale of the QL Care™ Analyzer and consumable reagent cartridges for its approved tests.
Further information regarding the QL Care™ Analyzer and CardioGenics' battery of cardiovascular tests is available at the Company's website (www.cardiogenics.com). A new "Company Profile" is also available at:
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