ChroMedX Corp. Awarded Two New Patents on Ultra-Filtration Technology
TORONTO, ON / ACCESSWIRE / September 30, 2015 / ChroMedX Corp. (CSE: CHX) (OTCQB: MNLIF) (FSE: EIY2) (the “Company”), a developer of in vitro diagnostics and point-of-care testing (POCT) is pleased to announce that the Company has been awarded two additional Canadian patents on its Automated Ultra Filtration (AUF) technology.
These patents demonstrate the novelty, inventiveness and usefulness of the AUF technology, and are listed below:
1. CA No. 2,876,445 entitled “AUTOMATED ULTRA-FILTRATION SYSTEM”, and
2. CA No. 2,876,602 entitled “AUTOMATED ULTRA-FILTRATION WORKSTATION”.
Similar patents are pending in US, Europe and India.
The AUF is a potentially disruptive technology which will allow the preparation of samples for immunoassay of free therapeutic drugs and hormones to be done quickly as part of an automated system, replacing the current manual centrifugation preparation step.
The immunoassay market comprises approximately one-fourth of the IVD market and was estimated at $12.0 billion in 2014. Therapeutic drug monitoring alone was estimated to reach $335 million in 2014 while endocrine (hormone) testing was valued at $1,537 million in 2012 with a forecast 4.3% CAGR. Preliminary market study has shown that there are approximately 100,000 independent and hospital laboratories in the US, not including physicians’ offices, many of which could benefit from the AUF technology by reducing costs and reducing time required for sample processing.
The AUF patent application is a part of the Company’s suite of issued and pending patents covering all of its technologies. A complete list of the Company’s intellectual property can be found on the ChroMedX website at www.chromedx.com.
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 and pending patents, dealing with blood collection, analysis and plasma/serum processing.
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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.