Biomagnetics Applies for Gates Foundation Grand Challenge Grant

SAN FRANCISCO--(BUSINESS WIRE)--Biomagnetics Diagnostics Corp., (PINK SHEETS: BMGP - News) a developer of revolutionary diagnostic systems and technology for HIV, hepatitis, tuberculosis, and malaria detection, today announced it has submitted an application to the Bill & Melinda Gates Foundation for a grant to further develop the Integrate Optical Biosensor Sensor (IOBS) technology it is plans to bring to market. The topic for the Grand Challenge Grant is Low Cost Diagnostics for Global Priory Health Conditions, which includes both malaria and tuberculosis. “The availability of low cost diagnostics for malaria and tuberculosis are major concerns for not only health care professions, but also for the Gates Foundation. The technology we plan to introduce reduces the cost of traditional malaria testing by up to two-thirds,” commented Clayton Hardman, CEO of Biomagnetics Diagnostics. “The IOBS platform produces test results measured in only minutes, whereas traditional methodologies often take many days. Additionally, the handheld IOBS platform can be utilized in the field at point of care by relatively untrained personnel. We believe the IOBS platform holds the promise to revolutionize testing for not only malaria, but also for many other diseases including tuberculosis and HIV/AIDS. We believe the Gates Foundation had a device such as IOBS in mind when it devised the specificatio...
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Biomagnetics Concludes Contract Talks With U.S. Government Lab - Preparing Gates Foundation Grant Application

ORANGEVALE, Calif.--(BUSINESS WIRE)--Biomagnetics Diagnostics Corp., (PINK SHEETS:BMGP - News) a developer of revolutionary diagnostic systems and technology for HIV, hepatitis, tuberculosis, and malaria detection, today announced the Company has completed business negotiations with one of the U.S. Government's top national security research institutions regarding the acquisition of rights to the Integrated Optical Biosensor System (IBOS) technology developed by the laboratory personnel. Biomagnetics Diagnostics plans to utilize this technology to enter the significantly underserved market for handheld biosensors capable of detecting a broad range of disease-causing viruses, bacteria and fungi. nd. The topic of Round 4 is the creation of low-cost diagnostics for priority global health conditions, which include malaria, tuberculosis, and HIV/AIDS. The Gates Foundation states the proposed diagnostics will ultimately need to fill many of the criteria found in the acronym ASSURED: Affordable by those at risk of infection, Sensitive, Specific, User-friendly (simple to perform with minimal training), Rapid and Robust, Equipment-free or minimal equipment, and Delivered to those who need it. We believe the IBOS technology we plan to introduce to the market fills the criteria very adequately and thus, we believe our chances of winning a Gate’s Foundation grant are very high. We look fo...
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Biomagnetics Diagnostics Completes Equity Financing Round - Prepares Entry into Malaria and Tuberculosis Diagnostics Markets

SAN FRANCISCO--(BUSINESS WIRE)--Biomagnetics Diagnostics Corp. (Pink Sheets:BMGP - News), a producer of revolutionary diagnostic systems and technology for malaria, tuberculosis, HIV and hepatitis testing today announced the completion of its equity financing designed to fund entry into the Integrated Optical Biosensor Systems (IOBS) market. Through this round of equity financing the Company received cash and commitments of approximately $1 million from several private investors and a single philanthropic organization. “We view the market for both malaria and bovine tuberculosis testing to be significantly underserved with few viable field deployable technologies available. In 2010 we plan to introduce a new generation of products to target this area. This equity financing will be instrumental in this market entry,” commented Clayton Hardman, CEO of Biomagnetics Diagnostics. “We believe this technology upon commercialization will not only be profitable for Biomagnetics and our investors, but will also provide an important tool in the medical, research and anti-bioterrorism communities that can potentially improve and save lives.”According to the World Health Organization, some 3.2 billion people, or about half the world's population is at risk of malaria transmission in 107 countries and territories worldwide. While there are between 350 million and 500 million new cases o...
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New Technology Hopes to Change Field Diagnostic Testing as We Know It

LOS ANGELES, CA--(Marketwire - 10/14/09) - BioMedReports.Com, the news portal which covers Wall Street's biomedical sector and delivers financial and investment intelligence to a community of highly informed investors, has released an exclusive interview with a spokesman for Biomagnetics Diagnostics Corp. (Pinksheets:BMGP - News), the company behind a revolutionary diagnostic systems and technology for malaria, tuberculosis, HIV and hepatitis field testing. Several key developments have put this company on biotech investors' radar screens in recent weeks and according to one report, the low-float penny stock that is still trading well below analyst estimates.Diagnostics, the technologies and tools used to identify diseases and conditions in patients, make up the second-largest portion of the biotechnology industry, and this technology allows laboratories to perform far more tests in the same amount of time it takes to do a single test and is designed to detect the actual virus and viral load in any body fluid. Learn more about the company's goals to provide this innovative technology, which was originally developed by the U.S. Department of Homeland Security, via the special report interview which is available now at BioMedReports.Com:...
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Biomagnetics Diagnostics Corp. Subject of Cover Page Story in Prestigious BioMedReports Electronic Newsletter

SAN FRANCISCO--(BUSINESS WIRE)--Biomagnetics Diagnostics Corp. (Pink Sheets:BMGP - News), a producer of revolutionary diagnostic systems and technology for malaria, tuberculosis, HIV, and hepatitis testing, today announced the Company is the subject of a cover page story in the prestigious BioMedReports electronic newsletter and portal. BioMedReports covers medical news and the healthcare financial sector. The cover page story and associated audio interview can be viewed at http://biomedreports.com/articles/most-popular/12852-diagnostics-company-aims-to-change-lab-field-testing-otcbmgp.html. “The information contained in the BioMedReports article and interview provides an excellent overview of our strategic and product directions. We are very excited about our entrance into the integrated optical biosensor market, especially relating to the malaria and bovine ...
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Biomagnetics Diagnostics Corp. Appoints Charles Gregoire de Rothschild Special Adviser to Board

NEW YORK--(BUSINESS WIRE)--Biomagnetics Diagnostics Corp. (Pink Sheets:BMGP - News), a producer of revolutionary diagnostic systems and technology for malaria, tuberculosis, HIV and hepatitis testing today announced the appointment of international financier Charles Gregoire de Rothschild to the role of special adviser to the Company's board of directors. Mr. de Rothschild will support Biomagnetics’ continuing global expansion efforts by leveraging his extensive domestic and international financial expertise. “Western countries are finally waking up to the ongoing malaria crisis, which claims more than one million lives each year. While there have been some notable gains in malaria prevention over the past few years, the area of malaria testing and diagnostics has progressed very slowly. The world is in desperate need of low-cost, field deployable tools to diagnose malaria,” said Mr. de Rothschild.For nearly 100 years, the direct microscopic visualization of the malaria parasite on blood smears has been the accepted method of diagnostics of malaria in most settings. This process must usually be performed in a laboratory setting by trained personnel. While field deployable, non-microscopic tests have been introduced, the efficacy of these tests is often called into question.Mr. de Rothschild continued, “The Rothschild family wishes to do its part to advance this area of re...
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Biomagnetics Diagnostics Subject of a New Research Report

ORANGEVALE, Calif.--(BUSINESS WIRE)--Biomagnetics Diagnostics Corp., (Pink Sheets:BMGP - News) a developer of revolutionary diagnostic systems and technology for HIV, hepatitis, tuberculosis, and malaria detection, today announced the Company is the subject of a new research report issued by Emerging Growth Research, LLP. The report outlines the Company’s growth prospects in the next generation medical diagnostics systems market with a particular emphasis on integrated optical biosensor systems that Biomagnetics plans to soon introduce into the malaria and bovine tuberculosis testing markets. A full copy of the report can be viewed at http://www.thesmallcapinvestor.com/tsci_details.php?id=54. “We are very pleased to have this report available to current and prospective investors. We are planning to introduce some groundbreaking testing and diagnostic capabilities over the next few months and this report does an excellent job in explaining our strategies,” ...
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Biomagnetics Diagnostics Receives a Financing Commitment up to $1 Million to Speed Development of Malaria Testing Technology

GENEVA--(BUSINESS WIRE)--Biomagnetics Diagnostics Corp., (PINK SHEETS:BMGP - News) a producer of revolutionary diagnostic systems and technology for malaria, tuberculosis, HIV and hepatitis testing today announced it has received a equity-based financing commitment up to $1 million from investors and an anonymous philanthropic source. These funds will be used to further develop the company’s unique handheld testing platform targeting the areas of malaria and bovine tuberculosis testing. “We are very excited to be receiving this equity investment as it shows the significant commitment of our investors to furthering our corporate goals," commented Clayton Hardman, CEO of Biomagnetics Diagnostics. “We view our technologies as potentially revolutionizing pathogen testing in a variety of important markets. Our first goal is to finalize our government laboratory partnership, which we believe will be occurring over the coming weeks. We will then use these new funds to quickly move this technology into the field where we believe a significant market exists. We have already landed our first commitment from China's third largest dairy and we believe many other organizations are eagerly awaiting our market entry.”According to the World Health Organization, some 3.2 billion people, or about half the world's population is at risk of malaria transmission in 107 countries and territorie...
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A New Audio Interview with Biomagnetics Diagnostics Corp. is Now Available

AUSTIN, Texas--(BUSINESS WIRE)--www.TheGreenBaron.com and StrictlyStocks.com in association with SmallCapVoice.com is presenting this audio-taped webcast interview with Mr. Joe Noel of Emerging Growth Research, LLP to discuss Biomagnetics Diagnostics Corp., (PINK SHEETS: BMGP - News) a developer of revolutionary diagnostic systems and technology for HIV, hepatitis, tuberculosis, and malaria detection in now available. Please click on audio link below to listen to BMGP Webcast:To Listen in a Web Browser Click here or ...
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