ChroMedX Reports on HemoPalm Development

TORONTO, ON / ACCESSWIRE / April 29, 2016 / ChroMedX Corp. (CSE: CHX) (OTC: MNLIF) (FSE: EIY2) (the “Company“), a developer of in vitro diagnostics and Point-of-care Testing technologies is pleased to report on the Company’s HemoPalm development programme.

During the first four months of 2016, ChroMedX focused on refining the HemoPalm cartridge design through machining, and developing essential components of the HemoPalm analyzer.

“We have made significant progress so far in 2016 and are very pleased that there have been several important developments which will expand the utility and market of the HemoPalm. We have successfully engaged new technical resources and have concentrated efforts on our cartridge and biosensor technologies. The Company is now focused on optimizing the cartridge development in order to shift to the process of molding, and completion of the breadboard analyzer for testing the cartridges,” said Dr. Wayne Maddever, President & CEO.

HemoPalm Development

The HemoPalm project has made progress on several key fronts. The HemoPalm system consists of a disposable single use cartridge and a handheld analyzer. The system utilizes both spectroscopic measurements for CO-oximetry and bilirubin, and biosensor measurements for blood gases and electrolytes.

Proof-of-concept for CO-oximetry and bilirubin was completed. CO-oximetry is the gold standard for hemoglobin and oxygen saturation measurements and the inclusion of this technology makes the HemoPalm the only hand held analyzer in the world to combine CO-oximetry, blood gases and electrolytes. In addition, the successful demonstration of the measurement of bilirubin, an indicator of liver function and essential for the detection of neonatal jaundice, will expand the market for the HemoPalm.

The other critical development area is that of the electrochemical sensors used in the cartridge. ChroMedX recently announced the addition of Conductive Technologies Inc. (CTI) of York, PA. to this effort that is led by Polygenesis. CTI, which produced the current gold sensor array on a polymer substrate brings over 60 years of sensor and electronics expertise to the project and is leading the development of automated deposition of the critical ion selective membranes to the sensor array. Polygenesis has a long history in the field and the principal was part of the development team that created the Abbott i-Stat analyzer.

The Company previously reported on the cartridge development work being undertaken with Shenzhen Hochuen Technologies Co. Ltd. of Shenzhen China. Led by Dr. James Samsoondar, ChroMedX CSO, the cartridge has undergone several iterations of design refinement and recently demonstrated blood flow into the optical chamber by capillary action, for subsequent spectroscopic analysis. Design of the microfluidics is a critical aspect of the cartridge design and is patent protected. Another patent protected aspect of the cartridge design will allow for sample collection from a simple finger prick, or heel prick in the case of neonates, directly into the cartridge without the need for collection with a capillary tube and subsequent transfer. This aspect of the HemoPalm cartridge is not available in any hand-held or lab blood gas analyzer.

After successfully testing cartridges on the breadboard analyzer as mentioned before, the next step would be to package the analyzer components into a hand-held analyzer, and proceed towards clinical testing of the HemoPalm system for FDA submission.

About ChroMedX Corp.

ChroMedX Corp. is a medical technology company focused on the development of novel medical devices for in vitro diagnostics and point-of-care testing. The devices are protected by the Company’s issued US and pending international patents, dealing with blood collection, analysis and plasma/serum processing.

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Website: www.chromedx.com
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Investor Enquiries:

Shawn Overton
d. 647-528-9344
o. 647-872-9982 ext. 2
TF. 1-844-247-6633 ext. 2
soverton@ChroMedX.com

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Except for statements of historic fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which filings are available at www.sedar.com

SOURCE: ChroMedX Corp.

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